Generous Credit Limit

For just about anything you want to get off your chest about credit cards.
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chooseausername
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Generous Credit Limit

Postby chooseausername » Fri Mar 14, 2014 4:31 pm

I have excellent credit and a debt to credit ratio of around 0%. No bankruptcies, no liens, no loans, no accounts sent to collections, no loan defaults, no home foreclosure, no judgements, never maxed out credit cards.

Which cards tend to be the most generous with the credit limit for new applicants?

In order to get a higher credit limit, is it better to get a second card from the same issuing bank or pick a different issuing bank?

Would a co-applicant, co-signer help increase the credit limit provided that the co-applicant, co-signer also has an excellent credit score, a debt to credit ratio of around 0%, and no bankruptcies, no liens, no loans, no accounts sent to collections, no loan defaults, no home foreclosure, no judgements, has never maxed out credit cards?


MemberSince99
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Postby MemberSince99 » Fri Mar 14, 2014 6:00 pm

If you can figure it out, let me know. I haven't got a clue.


Discover seems to at least have a good chance of offering high limits to people with sub 700 scores if you have no other cards with high limits based on my looking at the results of people getting approved for that card. If you are over 700 and have cards > 5k then you aren't as likely to bag a high limit with them.


Otherwise, high limits beget high limits as companies compete for your business. GE is known to be generous with CLIs on their cards every 4 months if you use heavily and PIF. I went from 3k to 5600 in 4 months with no hard pull with them by using it a lot and paying in full before the statement date.


Also Amex on their revolvers offers very generous CLIs without a hard pull as well if they feel you qualify for it.


A co-applicant isn't going to help so far as I know. Can't say I've ever done it, but that's just considered an authorized user mostly.


If you want a high limit, just get a card and demonstrate responsible use for a while and ask them to increase. There are few shortcuts.

thom02099
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Postby thom02099 » Fri Mar 14, 2014 8:54 pm

chooseausername wrote:I have excellent credit and a debt to credit ratio of around 0%. No bankruptcies, no liens, no loans, no accounts sent to collections, no loan defaults, no home foreclosure, no judgements, never maxed out credit cards.

Which cards tend to be the most generous with the credit limit for new applicants?

In order to get a higher credit limit, is it better to get a second card from the same issuing bank or pick a different issuing bank?

Would a co-applicant, co-signer help increase the credit limit provided that the co-applicant, co-signer also has an excellent credit score, a debt to credit ratio of around 0%, and no bankruptcies, no liens, no loans, no accounts sent to collections, no loan defaults, no home foreclosure, no judgements, has never maxed out credit cards?


What's your score? What's the source of it? Any cards now and if so, who and what limits? Folks are gonna need to know a bit more about your CR to advise. One the surface, since you mentioned co-signers/applicants, sounds like you have a thin file. They serve a purpose, but maybe not what you think.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

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Vattené
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Postby Vattené » Fri Mar 14, 2014 9:31 pm

I don't have much expertise in the matter, so I'll just share my experience for what it's worth. I would second MemberSince99 and say you should seriously consider Discover. I recently got a Discover card with a $4,200 limit, and I've also seen a lot of anecdotes on here from people with generous limits from Discover.

I am recently out of college and this Discover card was my first major one. Prior to it I had 9 accounts totaling a roughly $9,000 credit limit, and my credit score was in the mid-700s. Don't know how comparable your situation is to mine, but there's the background info for context.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

FutureBillionaire
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Postby FutureBillionaire » Sat Mar 15, 2014 1:14 pm

chooseausername wrote:I have excellent credit and a debt to credit ratio of around 0%. No bankruptcies, no liens, no loans, no accounts sent to collections, no loan defaults, no home foreclosure, no judgements, never maxed out credit cards.

Which cards tend to be the most generous with the credit limit for new applicants?

In order to get a higher credit limit, is it better to get a second card from the same issuing bank or pick a different issuing bank?

Would a co-applicant, co-signer help increase the credit limit provided that the co-applicant, co-signer also has an excellent credit score, a debt to credit ratio of around 0%, and no bankruptcies, no liens, no loans, no accounts sent to collections, no loan defaults, no home foreclosure, no judgements, has never maxed out credit cards?


Bank of America gave me the highest starting limits. I think they tend to be very generous.

Chase was very generous with me, and I picked up their cards after having several others.

Discover started me out low, but has grown over time.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape



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