okay, cough, i havn't applied for any more <personal> credit cards - however - I did apply for two business cards - and as much as I tried these past few days - I just can't HIDE that info from creditnet - SO DON'T JUDGE ME!!!! So here's the update Advanta Plat Business MC - 12.5K Amex Business Management OPEN - 19K I think I'm through with applying. I think I'm through with... I think I'm through... I think I'm... I think... I... Mark LA
I hear ya. I wish I'd get out of the habit of applying for new credit... but my credit union just approved me for a $1,000 VISA and a $2,000 unsecured loan. Now I have a $3500 Visa (lowered from $5,000) and the other 2 accounts. I closed out all the others. I'll be completely done with applying once I refi my car loan with HALF the interest rate.
Howdy Mark La, I'm not gonna judge you, in fact I am laughing right now at the fact that you are a brave man ;-) Seriously, I really admire that fact that you have a buffer of credit in case you need it, and you are applying because you WANT credit, not need it. I also like the way you manipulate your credit to make it work for you, not against you. Be good, and don't get into trouble with it!!! I for one, wish you luck........... By the way, someone posted, 'You can never have too much money or credit'. ;-)
Way to go Mark LA!! I still am behind you to get 200K in CL's. What kind of score did you have when you got the cards? Nice opening CL's. Charlie
Mark LA : Congratulations!!. Btw did you know that AC Federal pull two hard inquires on Equifax?. And Advanta pulled All three cr bureaus for me.
hey charlie well - the scores before those two new ccs were 712 on Ex and 747 on Eq I know that Ex fell to 709 - not sure about Eq yet. but i don't want to go below 700 so I'm going to cool it now - REALLY
Hi Geo Yeah - I saw that AC Fed pulled two - I thought it was because I asked for the lower apr - which they approved - but it looks like they pull two for eveyone - first time it's probably computer generated - the second time i'm guessing it's manual. I figure you probably could dispute the second one after you get the card. I'm probably just gonna let it go cause they did lower my apr. Advanta pulled all three? that seriously sucks. They pulled only Ex for me. did you get the advanta in the end?
hmm i applied with the AC site (669 score) and well i got approved for $5000 @ 13%. Not like i needed it, but the site seems a bit unprofessional, i hope this place is real and *green* and not a scam. Website looked a little sketchy imo, almost hinted of nextcard if i recall.
Hello There, I just apply online tonite after talking with Sam which he got approve and Congrats to you Sam! and you too Mark! anyways I did'nt ask for a high credit line I just ask for a small amount of $2000 which is the same as my Generations Bank Visa anyways I waited for under a minute and a Congratulations screen was shown... you have been approved for a visa card cr line $2000 that's what I ask for and the apr is 11.7% which is okay.... Thanks again Mark and Sam for this info... they pull efx on me by the way... score of 700 Thx, Kev
Hey Mark! I've posted here and there, but the frequency definitely has dropped. Since we didn't have to move, the close-of-escrow was kind of anti-climactic. No parade or anything. A couple of days later I woke up and wanted to turn the heater on for a few minutes to take the chill off. It didn't work and it suddenly dawned on me that this was totally my problem. So, I started a fire in the fireplace and went up in the attic and fixed the air handler. Then the garage door opener quit working. Fixed that too.... Between fixing broken things, every chance I get, I dig in the back yard getting ready to install patio pavers. Busy, busy, busy.... BTW, thx for the link.
Hey Mark.... someone said they liked how you manipulated credit to work for you and not against you....do tell your game plan! Inquiring minds want to know!
not really sure i'm a pro at manipulating credit - and everyone's situation is different. Mine is that I've never been late or had any derogs or bks or anything- but my credit history is relatively short - because I lived out of the country for many years. In the beginning I got a few low limit cards - and then after a few years - when my score got closer to the 700 mark - i got bolder - and started applying for cards which i thought would give me higher cls. that's hard to know - but after reading alot on this board i kind of got a feeling for who might be giving higher lines. Sometimes i lucked out - got 12K from Fusa - other times a bit less - 6K form citi. 6K from chase. Then i tried doing the - if i bt may i get a line increase. that's how i got citi up to 8K - and later - got an increase to 9.6K, Generations gave me 5K but upped it to 8.2K with a bt. Aside from that - I'm pretty much convinced that - in my case at least - credit utilization is one of the key factors in getting cl increases- so I have kept my entire credit utilization to no more than 20% - actually try to keep it lower - more towards 15% if i can. That's entire credit utilization - however - on a single card - I sometimes go up to 50% (never beyond tho - i think that scares the creditors). I think they like seeing your capability to pay back big lump sums - that can be difficult - but it's worth it, In other words - if your Amex Blue has a cl of 6K - spend 2.9K - but pay it back within the month. Your abiltiy to pay back big amounts is a biggie. I got a 10K increase (with a bt) on Blue - bring the total cl to 17.5K. I'm sure it's because I used it alot and paid it down quickly. also - and this may be obvious - when i apply for a card - i make sure i know which cra they're going to check. When I applied for the Atlantic Coast Federal Visa a few months ago - I knew they checked Equifax - and my score at that time was 749 - my Experian btw at that time was i think 695. Anyway - they checked Equifax and i got a 15K cl. Also - you gotta be realistic. In my income bracked and credit usage - i think I'm probably pretty close to the max amount i can get - which is about 100K in personal credit. Some one in a higher earning bracket - in other words can spend higher amounts than me and pay it back quickly - could get more - Wolverine - for example (damn him to hell asnyways - hope that put things into perspective for you. Good luck! Mark LA
I'm not so sure how important income is to credit limits. One of the people who works for me makes only about 40k, but has well over 100k in CC credit limits. He's only 27, but has a relatively long credit history because his parents had him as an auth user on their accounts when he was 16. His mother is a teacher, with an income of around 60k, but she has over 200k in credit limits on her cards. I wonder, then, how much income has to do with the limits companies will give you. From these two examples, it seems that length of credit history and overall behavior count for more than income.
Just my $.02, not worth much, but.... When you initially are approved for an account, income does play an important role. This is just a guess, but because his parents had him as an authorized user on their cards, the cc companies more than likely took into consideration his parents income also. Also, he probably received increases on his existing cards. (I don't think they really care about your income as much once you have an open account)
