I think we can all agree that limits on new cards are set looking very heavily at limits on your old lines. ( Considering that your income is high enough not to be a problem.) Does anyone now the specifics? Is the age of the old credit line a factor? I applied for 2 chase cards one a month after the other. the first one was a 5k and the second was a 16k. If I remember right, the only difference on the report when the second inquiry hit was a 15k Discover. Your insight is appreciated. By the way, Discover is very generous with their limits in my experiences.
JUST LIKE F.I.C.O. SCORE, IT GETS PULLED OUT OF A HAT!!! I got a $500 card (REFUSED IT)...when the "NEXT" highest credit limit was $5,000...
Thats been pretty much the case with me. They always run 75% to 125% of my old limit. Of course, I always make sure my file is prime first; no inquires, low balances, etc.
My highest WAS $12,000. This summer I applied for and received Juniper and Citi Dividend Select. Juniper gave me $17,500 Citi only gave me $6,400. :-( From my experience, I have no clue on how they come up with the limits. I think Juniper takes into consideration your income and previous lines. I don't understand Citi's reasoning.
It also seems that when you do a large balance transfer upon applying the limit it higher. Opinions anyone? I got a 25k chase and 25k fleet that way.
