I am trying to reach 100k in lines.My credit history has no lates and is 4 years and 7 months old!Here is my current situation,what should I do now? 1-providian 16.9%/700 bal/4060limit/open 4/96 2-target-21.69%/200 bal/500limit/open12/99 3-mbna gold option 17.96%/4000balance/13500limit/open 12/99 4-discover plat-13.99%/2000bal/7600limit3/00 5-citi plat-11.9%/4000bal/7000limit/open7/00 6-citi click plat-10.65%/700 bal/5000 limit opened 10/2000 7-juniper-12.99%/5600 bal/10000 limit/12/00 8-amex blue 9.99%/300 bal/10000 limit/1/00 9-nextcard 14.99/700 bal/2000 limit/12/99 With the exception off the first two all balances on intro rates of 2.9-4.9% Thanks for your help once again
RE: Limit experts needed again not sure i understand your question. you can let these grow or apply for new cards. looks like you have alot of recently established trade lines so you may want to space out new applications. you might want to apply for citibank aadvantage which comes with a high limit.
RE: Limit experts needed again I'm not trying to be nasty or anything, but unless you are a business owner or a millionaire, why would you want 100K in credit? What emergency in life could possibly arise where you'd need that much available credit? From what you've posted, it seems to me that you have more than enough to cover you butt if you needed it.
RE: MBNA bobbi, i have an MBNA gold option account too and am curious about increases. if you don't mind, what limit did you start off with and how often did you get increases?
RE: Limit experts needed again Thanks for the explanation! Like I said, I wasn't trying to be a smart ass, I was just curious.
RE: MBNA thank you bobbi. that is useful information. you might want to ask them to lower the APR too. they will probably do it.
RE: to dave and bobbi i'm not sure what their credit standards are. i responded to a preapproved offer,called them and answered a bunch of questions and they set up the account on the spot. the apr was 17.9. a few months later i got another preapproved offer for an APR of 11 something. i may call and ask them to lower as part of my current campaign to slash the rates on all of my credit accounts.
RE: MBNA They have already lowered it 4 times from 26.99.I wonder if I pay it off if they will offer me a lower rate!
RE: Limit experts needed again As of right now because Juniper hasn't shown up on reports owing them 5600 is a plus toward reaching your goal of 100K. Total owed is only 12,600 because of Juniper which should grant you approvals on applying for additional unsecure credit lines. Work on bringing balances down some as you are reaching a point where creditors might shy away some. You should easily reach your goal this year.
Close Providian and NextCard? Excluding MBNA, your highest interest rates on bank cards are with NextCard and Providian. Coincidentally, your lowest credit limits on bank cards also with those two banks. Does that tell you something? I encourage you to negotiate with MBNA as Dave suggested. Other than that, you may want to close those two accounts, either to look good for limit increases on the other cards or to make room for new cards with higher credit limits. Your stated goal is more credit, and too many open accounts may be detracting from that goal.
RE: Limit experts needed again Excellent. The only way to grow this kind of credit is to exercise it. Borrow close to the limit and pay it back in large installments, carry a balance for 3-12 months. Move the money around to take advantage of any lower rate offers and you will see your limits climb. I did just that and started CreditWorks, LLC with my sister almost 5 years ago. Credit Works. http://www.creditsense.com
