Have 9 cards, what should I do to improve limits and score?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Have 9 cards, what should I do to improve limits and score?

Postby mojobones89 » Sat Jan 12, 2013 8:52 pm

My cards are:

usaa mastercard rewards(7k)(2011)
GeMoney(1.4k)(2010)(never use it)
Military star(2.4k)(2011)
discover more(1k)(2012)
first premier(700)(2011)
chase freedom(500)(2012)
capital one(500)(2010)(oldest,but never use it)
orchardbank (300)(2010)(never use it)
credit 1 bank(300)(2013)(uhh how the hell did i only get approved for 300 LOL)

I've yet to have any auto credit limit increases. I've paid in full, kept zero balance, 20% balance, 50% balance and even came close to max out and paid them off to try and get their attention....AND NOTHING.

idk what im doing wrong or what i need to do? ive called and nope and i most definitely dont want to pull a hard inq.

i see people getting auto CLI left and right with hardly any income and with no credit history with that card they get the CLI...even reading how people call and recon and BAM CLI,counter offer,all these crazy stories....


CC Deville
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Postby CC Deville » Thu Jan 17, 2013 9:46 pm

Okay, you have USAA, Discover and Chase....why on earth did you apply for a cruddy Credit One account? Credit One is awful...they changed their name (nee First Bank of Marin) and logo to appear like those of Capital One (riding on Cap One's advertising coat tails) and most of their cards do not have grace periods...so you get charged interest from the moment you make a purchase.....

I do not know your age or whether or not you are rebuilding...but you have opened a lot of cards in a short amount of time. Credit card companies do not like to see a lot of recently opened credit. Especially when you have prime cards (USAA, Discover and Chase) and you go and open a sub prime account with Credit One (a subprime, bottom feeder bank) it appears as either desperate or is an indication that you may be a bust out risk.

In a post CARD Act world...auto CLI's are becoming rarer...a lot of banks (Discover and Chase to name a few) will usually perform 1 auto CLI within the first year of cardmembership provided you have good scores, good payment history and are utilizing the account. They are able to do this because they have your recent income on file. CARD Act requires that a bank/credit union/Savings and Loan collect your annual income to determine your ability to repay. Therefore, after the first year of cardmembership, the annual income provided on the application for credit is outdated and it would require you to provide the information for a credit line increase.

My advice is to start "gardening" (no more applications) and allow the cards to "grow." Your Discover and Chase were opened in 2012so there is a chance that you can get an auto CLI from them this year. GECRB (the issuer of your GE Money account) is notorious for generous credit line increases that you may easily initiate online through account management usually 4 to 6 months-but this usually requires the use of the account instead of letting it become dormant. Keep in mind too that GECRB is also notorious for automatically reducing credit lines on unused to accounts to a credit line of $124. This is why you should only apply for credit when you need it.

Credit One...SMH

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Postby Sevenfeet » Sun Jan 20, 2013 7:19 pm

I have to agree on this. I know it seems to be fun to play the card game around and the people on this forum do it better than most. But 9 cards in 2 years, most of which have tiny limits aren't helping your cause. From what I've read, financial companies like a little age on your credit profile and that just requires patience and paying your bills on time. I can remember getting cards with small limits in my 20's despite making good money. It was just that I was young and had an immature profile. I'm middle aged now and still make good money but it seems to be a lot easier getting what I want. The key is not asking for too much all at once.

I am going to get aggressive in a month of so and apply for two more cards but both of those cards will have specific uses (debt retirement and travel) and I'll still use the other three. After that, I'll refi my mortgage and do a little more "gardening".
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

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