How To Get Credit Card With High Limit?

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mayluio145
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Postby mayluio145 » Wed Jul 09, 2014 8:47 pm

Chase Sapphire Preferred Card


The Chase Sapphire Preferred Card is a high limit credit card that offers more than just high credit limits. Users are given an automatic 15,000 bonus points if you spend $1,000 and 40,000 bonus points if you get to spend at least $3,000 in the first three months. Spending of at least $50,000 every year will get you an additional 10,000 bonus points. These bonus points are already equivalent to $500 worth of travel tickets. You are also provided an access to the Chase Ultimate Rewards program that provides 20 percent discounts on car rentals, cruises and airfares when you redeem your points. Every time you travel or eat out in a restaurant, you also get two bonus points. All other purchases are given one point. Points are also transferable to frequent flyer programs of British Airways and Continental Airlines, as well as to the programs of Marriott and Hotel Intercontinental, on a one is to one basis.


attrapereves
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Postby attrapereves » Wed Jul 09, 2014 9:53 pm

I have several cards with what I consider high limits (for my income of $38K/year)...

Chase Freedom: $7000
Citi Dividend: $5500
Cap One QS: $5000
Discover It: $5000

and then the problem card: Amex BCE: $3500

I'd REALLY like to get the limit increased on my Amex card to $5000 as I use it the most, but they denied my request 6mo after I had the card, and another 6mo later. I don't understand it as Citi, Discover, and Chase have raised my limit substantially since I've had the cards. In fact, I could probably get more limit increases from my existing cards.

iHackerSix
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Postby iHackerSix » Thu Jul 10, 2014 10:08 am

attrapereves wrote:I have several cards with what I consider high limits (for my income of $38K/year)...

Chase Freedom: $7000
Citi Dividend: $5500
Cap One QS: $5000
Discover It: $5000

and then the problem card: Amex BCE: $3500

I'd REALLY like to get the limit increased on my Amex card to $5000 as I use it the most, but they denied my request 6mo after I had the card, and another 6mo later. I don't understand it as Citi, Discover, and Chase have raised my limit substantially since I've had the cards. In fact, I could probably get more limit increases from my existing cards.


OMG, this is like DeJaVu (excuse me if I spelled that wrong but you get the drift), I currently carry a CSP (13,500 limit), Citi World MasterCard (5,200 limit), and Discover IT (5,000 limit), with an awesome Amex BCE card that I love and it's limit of a whopping 1,000!!! I have requested a CLI @ 62 days (Denied), 6 months later (Denied), and I'm currently waiting for my next opportunity at a CLI request but I'm sure they'll deny me again. I've seen Amex be awesome with CLI for most people but for some like me, not so much. Current Fico scores are 720, 710, and 732 so I'm not sure what's going on that's spooking them.

attrapereves
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Postby attrapereves » Thu Jul 10, 2014 10:43 am

iHackerSix wrote:OMG, this is like DeJaVu (excuse me if I spelled that wrong but you get the drift), I currently carry a CSP (13,500 limit), Citi World MasterCard (5,200 limit), and Discover IT (5,000 limit), with an awesome Amex BCE card that I love and it's limit of a whopping 1,000!!! I have requested a CLI @ 62 days (Denied), 6 months later (Denied), and I'm currently waiting for my next opportunity at a CLI request but I'm sure they'll deny me again. I've seen Amex be awesome with CLI for most people but for some like me, not so much. Current Fico scores are 720, 710, and 732 so I'm not sure what's going on that's spooking them.


They usually state my reason for denial as "high debt to income ratio". I do have student loans, but the payment is around $100 per month. My cars are almost paid off. In fact, they denied my CLI before I even had the car loans. I think the student loans are messing me up.

I wonder if threatening to cancel the card will see some results? It's pretty pathetic that Capital One gave me a higher limit and two CLI, but Amex has done nothing.

MemberSince99
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Postby MemberSince99 » Thu Jul 10, 2014 10:54 am

That's the thing guys - look at the reasons they give you for the decline and address those issues. With that particular one you have two options - increase your income or decrease your debt. DTI would be a combination of your mortgage/student/auto loans and credit card debt vs income. So you either need to boost your income or else pay down some of the debt.


Threatening to cancel isn't going to help with a CLI. You have to focus on the issues you point out.


In my case it's just the opposite - Discover gives me smaller limits and no CLIs, where Amex gives me higher limits and approved my 3X CLI earlier this year. My DTI is about 10% and I don't carry revolving debt (I have a car payment and student loans). Plus I have a track record with them over the last year of using my cards with them and paying in full as soon as the charges post. That's what they like. With Discover I have not figured out what they like, but it's obviously not me. And at this point I am not going to worry about it I've made my lending choices.


But that's what you need to do to get what you want, if you want that from Amex. Threatening to close isn't going to give you a CLI.

Ikarus
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Postby Ikarus » Thu Jul 10, 2014 11:53 am

attrapereves wrote:They usually state my reason for denial as "high debt to income ratio". I do have student loans, but the payment is around $100 per month. My cars are almost paid off. In fact, they denied my CLI before I even had the car loans. I think the student loans are messing me up.

I wonder if threatening to cancel the card will see some results? It's pretty pathetic that Capital One gave me a higher limit and two CLI, but Amex has done nothing.


I wouldn't threaten AMEX. You'd lose, not them. Great card with great perks and customer service.

AMEX denied my CLI after 61 days, telling me I need to pay down my balance. I got a sweet balance transfer deal and took full advantage of it. I guess it's true that AMEX does not like you to leave balances on their cards.
Merrick Bank (Hooters) 4100
Cap One Quicksilver 2800
Discover it 2500
Citi Forward 5400
Chase Freedom 1000
AMEX Blue Cash Everyday 5500
Citi Dividend 5600
Cap One Visa Platinum 750 (CLOSED)

attrapereves
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Postby attrapereves » Thu Jul 10, 2014 12:11 pm

Understood. However, I still don't understand why Discover has given me an increase from $3500 to $5000, Chase from $3000 to $7000, Citi from $4000 to $5500, and even Cap One from $3000 to $5000. Meanwhile, Amex refuses to budge. I use my Amex a lot, anywhere between $600 and $1000 per month is put on the card and the balance is PIF every month.

As my student loan balance is somewhat high, it will be 5 years before my debt to income ratio is lower. I'm also thinking about getting a mortgage once my cars are paid off. At this rate, I don't see getting a CLI from Amex for the next 5 years. I will try again in six months or a year and if they don't give me an increase, I'm cancelling it. It's amazing that in this case, Capital One is actually BETTER than Amex in terms of increases.

Using a combination of my Chase Freedom, Discover IT, and Bank of America cards, I can get the same rewards as what Amex gives me. Plus, I can still receive CL increases. American Express doesn't count Walmart as a grocery store (whereas Visa does), so I only get 1% there. I get 3% on gas purchases with BoA, so I use it when Chase and Discover aren't in 5% gas categories.

jrmsu
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Postby jrmsu » Thu Jul 10, 2014 12:54 pm

sputNick wrote:I would like to get one credit card with a high limit as opposed to several cards with only low limits. What is the best way for me to do this? I have a credit score a little under 700 last I checked. Thanks


What cards and limits do you already have? What is your income?
My Cards:

Discover It - $8,450 (9/13)
BankAmericard Cash Rewards Visa Signature - $5,000 (4/14)
Chase Freedom - $3,000 (5/14)
AMEX Hilton HHonors - $16,500 (6/14)


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nismoZtuner
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Postby nismoZtuner » Thu Jul 10, 2014 2:16 pm

my highest limit is $5800 on one cards and $5k on another- all of my other cards are under $3k.

my highest limit was $2k at the time I deiced to apply for a visa signature with chase-they gave me a $5k limit, then half a year later I applied for another visa signature card and they gave me $5800 on that second card-so i don't know how you would make such a huge jump!

---BUT good luck with $10k!
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

Darrvao777
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Postby Darrvao777 » Wed Sep 17, 2014 7:23 am

fffresh wrote:We From my experience Bank of America and Chase tend to be more conservative with their credit limits. American Express has been known to be very generous with their cards but that may have changed with this economy.


I know this post is many years old now but I feel chase has been very generous with me and I'm now inclined to keep both my chase cards open

Gave me my largest crediting with a new app for the United card one month ago and gave me an auto CLI of 10k to the Marriott card this AM!
- Citi Double Cash
- Visa Fidelity



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