Low Credit Limits
My credit limits: BofA - $1500 Discover - $3000 Amex - $8000 Loans: Car Loan - $5k I spend on an average of $1500 - $2000 every month on credit cards and pay them immediately. Credit Score on Credit Karma - 785; Been in the US for 3+ years, never missed a payment. I tried to get a credit line increase from discover but they increased it to $3300. How can I increase my credit limits? TC: $180K
Get multiple credit cards from the same company and then merge the credit limits into an account. I've been doing this over the years and now have 250K+ in available credit and I keep my utilization at 1%
Have two cards from BofA and both combined give me $2500
Limits are determined at a customer level based on your debt capacity irrespective of number of cards, so this wouldn’t work. Having said that, all major banks have proactive line increase programs based on your usage/ behavior.
You need to keep your cc balance lower. Out money on your cc daily to keep your credit usage low
No. You need to keep your balances higher. Max out one card multiple months in a row. It will get its limit raised automatically. Just don’t do this for two months prior to opening a new line of credit or when shopping for a home/car.
You’re dealing with the wrong banks!! I’ve had my discover card for 10 years and my limit is still something dumb like 4K 😂. Opened a second discover card recently and they gave me 1k limit. So worthless for their 0% apr offer. Get a chase card or a couple. Doesn’t look like you have any. They will give you 10-20k limit. I have like 100k in credit lines just from my 6 chase cards. Citi also gives better limits. Also can try Barclay. My Amex and discover limits are much lower. I have about same credit score and have over 250k credit line and like 10+ credit cards. My TC is lower.
Depends on lender. I've noticed institutions where I had accounts as grad student with 25k income are less likely to give high limit. Try a new institution?
Looks like the same case, I opened accounts with them while I was a grad student
I just got a new card with Uber, benefits are good and they came back with a decent limit. Recommend if you eat out or travel but don't like the whole miles / points thing
Damn. I got 10k from BofA fresh off the boat in 2012
You need to apply for those premium credit cards that must have at least 5k to 10k credit lines. Try Chase Sapphire Preferred or BoA Premium Rewards.
You have to beat the system bro. I know a way to increase the limit in BOFA credit cards using the line increase application, that’s how we built it. There are some parameters that we need to enter in the application which will automatically approve the application :) DM me.
Its good not to have high limit, keeps your cc spending in check
No, you never keep a balance on credit cards (unless it’s 0% APR). Paying interest is for chumps. I use all credit cards as charge cards and autopay every one of them off every month.
Wtf, this is the kind of argument you use to not give a 10-year-old all their grandparent's birthday money at once. Don't apply it to adults.
Why do people care about having high credit lines? I have around 10k in credit and very rarely come anywhere near my limit.
Have you updated your annual income on the credit card sites? But also, why do you want more credit? I have 25K of credit but I never go over 4000 and I pay it off every month
Yes I did update the annual income. As my limits are low, utilization % is going up..
Pay off your balance a few days before statement close date - that should drive your utilization close to zero. Then again, you should be able much higher limits as it is. 🍆