Do credit limits on existing cards affect limits on new cards?

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Postby MemberSince99 » Wed Nov 28, 2012 6:33 am

Sometimes. It depends. Some creditors such as Chase are known for doing this, where others like Discover and Barclays really don't.

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Postby Snowman » Wed Nov 28, 2012 9:33 am

paparoach429 wrote:How long have you had the more? How do you like the rewards as compared to the Forward, also the card in general compared to the Forward. Also, how has the card grown with you so far?

I've had the more for roughly over a month now. I would say that the Cashback is excellent if you sign up and use it for the right categories. Citi's whole personal account set up is a pain to deal with. Apparently, they keep saying I have to have a checking account with them in order to redeem my thank you points...etc. I plan to use all 4 of my cards in turn (Citi for food and movies, phone bill, Discover for the 5% back categories, Amex for higher priced things or going to go shopping (I went up to 300 on the check spending ability and am afraid to push it even more.) and my BOFA card for Gas unless the more offers it, and or I get the Freedom/BCE and use that for Gas.) it just depends. I am hoping to get CL's with both, and I had a problem with my Discover and their CS took care of it immediately. Neither have really grown with me yet, but over time I hope both will give me larger CL's because of my usage, I don't need more of a CL on either card right now because of my income, but it would be good to have.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

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Postby styilmaz1980 » Sat Dec 08, 2012 3:13 pm

I honestly believe the credit supplied has nothing to do with what other lenders have given you. It all boils down to your FICO credit score and annual income. Before last week, my highest card limit was $3000 via Capital One Venture. I worked on bringing was utilization down for the last month and a half from 44% to 7% then saw my FICO score jump from 670's to above 750!

I wanted to get higher limit cards and do away with the kids credit limits that had been given to me when I started rebuilding credit 5 years ago. First thing I did was call BofA and get my CL raised from the initial amount of $500 they'd given me in 2007. They asked what limit I wanted so I threw out a nice number at them: $10,000. They were very willing to work with me and approved it with no problem...honestly, I got the sense that if I had asked for more, they would've given it to me.

Then I applied for AMEX BCE, got approved for $9700, Chase Sapphire...approved for $12000, and the PenFed Ultimate Rewards for $20,000...all in the same week.

My FICO scores are EQ: 752, EX: 779(AMEX Pull), and TU: 759

Annual income is over $110K/year...household over $220K.

So if you want high limit credit cards, first thing is you need is high FICO scores...then a high income makes the icing on the cake.

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