Chse Frdm P.O.T. 6 Months - Too soon to Request a CLI?

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3 posts
I2Want850
 
Posts: 1
Joined: Sat Dec 10, 2016 9:05 pm

Chse Frdm P.O.T. 6 Months - Too soon to Request a CLI?

Postby I2Want850 » Sat Dec 10, 2016 9:26 pm

Hi!

I only have 3 CC Accounts...All Paid on Time
and the Oldest being 18 Months Old.

MC - $2500 Limit
Capital One - $901 Limit
Chase Freedom - $6500 Limit


In June of this Year, I got Approved for a Chase Freedom Card
at a $6500 CL. I have Purposely used it for Everything and Maxed
the Limit just about every Month.

I Pay "in Full" each time...and now, I just paid the 6th Payment
"in Full" and On Time.

My Score on Experian stays at around 650 and My Score
on EQ and TU are each around the 720-730 Range.

They are saying that I don't have enough CC Accounts and
that I need to Add a Minimum of 3 more Accounts...but I'm
Afraid to Apply too soon...because I don't want to get Denied.

Is it too soon to request a CLI on My Chase Freedom...and/or
possibly apply for a Chase Sapphire Card on the same Day??

What can I do here to Add some New Accounts while Minimizing
My chances for getting Denied?

Also...What Cards Should I be looking to Acquire?

All Feedback and Suggestions will be Greatly Appreciated.


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kcm7
Centurion Member
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Posts: 354
Joined: Wed Feb 19, 2014 10:05 pm
Location: TX

Re: Chse Frdm P.O.T. 6 Months - Too soon to Request a CLI?

Postby kcm7 » Mon Dec 12, 2016 9:53 am

They are saying that I don't have enough CC Accounts and
that I need to Add a Minimum of 3 more Accounts.


Who is "they"?

Honestly, you have a very short credit history, but you're off to a great start with some nice limits.

The issue here may not be "not having enough" cards. Is your utilization high? If you're maxing your Freedom card out every month, you might be having a high utilization reported which really hurts your scores. If you want to use your card for everything, make several payments throughout the month to keep your util below 30%. Yes, you can get more cards to have more available credit, which will also lower your utilization. But, if you're afraid to get rejected, just use the multiple-payments strategy to keep your util low on the cards you have. Personally, I got more score past 800 with just two cards.

Beyond that, just treat those three cards well and, as your credit history lengthens, your score will grow.
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

Taalar
Platinum Member
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Posts: 96
Joined: Thu Apr 02, 2015 6:50 pm
Location: New Braunfels, TX

Re: Chse Frdm P.O.T. 6 Months - Too soon to Request a CLI?

Postby Taalar » Tue Dec 13, 2016 11:33 pm

Why do you want a higher limit? I think your score would go higher faster if you got your other two card limits up as well, and as was just said, keep the limit down to under 30% when it reports.

I2Want850 wrote:Hi!

I only have 3 CC Accounts...All Paid on Time
and the Oldest being 18 Months Old.

MC - $2500 Limit
Capital One - $901 Limit
Chase Freedom - $6500 Limit


In June of this Year, I got Approved for a Chase Freedom Card
at a $6500 CL. I have Purposely used it for Everything and Maxed
the Limit just about every Month.

I Pay "in Full" each time...and now, I just paid the 6th Payment
"in Full" and On Time.

My Score on Experian stays at around 650 and My Score
on EQ and TU are each around the 720-730 Range.

They are saying that I don't have enough CC Accounts and
that I need to Add a Minimum of 3 more Accounts...but I'm
Afraid to Apply too soon...because I don't want to get Denied.

Is it too soon to request a CLI on My Chase Freedom...and/or
possibly apply for a Chase Sapphire Card on the same Day??

What can I do here to Add some New Accounts while Minimizing
My chances for getting Denied?

Also...What Cards Should I be looking to Acquire?

All Feedback and Suggestions will be Greatly Appreciated.
Chase Sapphire Reserve Visa Infiniti $59,500
Bank of America Cash Rewards Visa Signature $47,500
American Express Blue Cash preferred. $35,500
Capital one Quick Silver Visa Signature $25,000
USAA Limitless Cashback Visa Signature $25,000
Experian 838 Transunion 833 Equifax 855



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