lubic4sho wrote:Alright, let me add some details. My credit limit on my single Visa card was $500 this past Sunday. So after reading the forum posts, I decided to go for a credit limit increase, I'm way over due anyway.
After calling them, I got an $8k limit increase. In total my credit limit is $8,500 solely on the Visa. Naturally AMEX won't say what my limit is, so that doesn't count.
So do you guys think that makes a much bigger difference?
It has been discussed on several boards that Chase likes to see at least one other creditor that has given you $5K + so based on that, yeah, I think it makes a difference. Also discussed on these boards is that it is believed that the partners (ie Marriott) take some of the risk on these co branded cards; and therefore, the approvals are easier to get but as always, your mileage may vary. I got a Chase card at 22 (back in 2001) and at the time I had two other cards with $5K limits. Caveat: this was the real Chase Manhattan and not the current Bank One in disguise; and of course, things change in 12 years.
At the very least you will want to make sure your credit line increase is reporting before you app.
Of course, the only way to know is to just app for it. At 20 and with as little credit as you have, one inquiry isn't going to kill you. If you get approved, awesome, if not, no big deal.