Fast and HIGH credit line

Discussion in 'Credit Talk' started by jen, Sep 30, 2000.

  1. jen

    jen Well-Known Member

    I need some information. I need to know how fast I can get a card online, and how high I can get credit for. It's for my mom and she's still not "computer literate". Anyway, she has $1,000,000 in assets, home paid for, and works full time with about 50,000 annual income. Do you think she would qualify for a credit card with more than a $100,000 limit and which one could she apply for (with the criteria mentioned). Thanks. (also, point me in the direction so I can apply for her)

  2. Creditinsi

    Creditinsi Guest


    You may want to try:

    Use their "search" option, they list a lot
    of the major internet PRIME banks and you can apply online for most of them, It might help you find the right card.


    Free Credit Help!
  3. Michael

    Michael Guest

    Only problem is most cards do cap at about $20,000.00

    Maybe a local bank would do it if they had some security on assets!
  4. Jo

    Jo Guest

    Well, First USA, BofA, and I think Chase all have $100,000 caps, but the MBNA Quantam Card has a cap of $250K-$1M depending on who you ask. With $50K a year though, she won't get a credit line that high. There is no room on any credit card applications for assets, so you'll either a) need to lie about your income or b) do what Michael suggested and talk to a local branch of a huge bank like BofA, seeing as how a local credit union or bank probably won't be too keen on the idea of extending such a huge line with limited assets on their ends. If you don't mind my asking, what does she intend to buy that requires more than $100,000? Shouldn't something like that be bought with a loan of some sort? You'll be raped with interest charges....
  5. C

    C Guest

    If those $1M assets are liquid,eg. Cd's, money market, stocks, bonds, mutual funds, etc...the only way to get that high a line would be to open a brokerage account and borrow against the assets on margin. The rate will be low. No single bank will give someone with only a $50K income anywhere near the line you are looking for.
  6. Doris K.

    Doris K. Well-Known Member

    She would be better off checking with her bank to see if they have a co-branded Visa or Mastercard. As long as they are aware of her assets, she might have some success at beginning with such a high limit.
  7. dogman

    dogman Well-Known Member

    She could get a Cross Country Bank GOLD VISA!
    $1000 max line with that $1M deposit!
  8. MikeG

    MikeG Well-Known Member

    I think I agree with the trend suggesting that she might try a line of credit rather than a credit card. Then the house could be used as collateral.

    Mike G.
  9. Doris K.

    Doris K. Well-Known Member

    Ouch! Dogman! Who pissed in your Wheaties today? ;-)

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