Credit Card Discussion Thread

[Spectre]

Always paid in cash but now realize credit cards are needed for future purchases like property etc. Got the Capital One Platinum but limit is like 500. How often should I ask for CLI and what other cards should I apply for? Score is 700 now due to little credit history but good stable income.

I want to ball out too.... wisely of course lol

 

[Obreh Winfrey]

Always paid in cash but now realize credit cards are needed for future purchases like property etc. Got the Capital One Platinum but limit is like 500. How often should I ask for CLI and what other cards should I apply for? Score is 700 now due to little credit history but good stable income.

I want to ball out too.... wisely of course lol

Every 6 months with Capital One. Make sure you put some spending through it. I tried to get an increase on my Quicksilver up to 2500 from 1000. Didn't expect to get it all, but maybe go up to 1500. They bumped me to 1100 . So I'm going to put the bulk of my spending on it over the next 6 months to make them think I use it heavy and see if I can get better than a 10% CLI. I have a bunch of inquiries on my credit report I want to drop off, so I'm 2 years out from looking for a new card that might get me a more substantial line of credit.

 

[Silkk]

Always paid in cash but now realize credit cards are needed for future purchases like property etc. Got the Capital One Platinum but limit is like 500. How often should I ask for CLI and what other cards should I apply for? Score is 700 now due to little credit history but good stable income.

I want to ball out too.... wisely of course lol

You should start with Chase as far as credit cards go imo. Especially with the 5/24 rule. You can probably start off applying for the Freedom & Freedom Unlimited cards.

 

[Spectre]

You should start with Chase as far as credit cards go imo. Especially with the 5/24 rule. You can probably start off applying for the Freedom & Freedom Unlimited cards.

Ok I'm gonna look into that. How do you move to the upper tiers of credit cards and credit scores? How long does that take?

I already got the money and discipline. I just don't know my options like what card to go for next, then the next after that, then cli, then another bank then etc it's like a game except it's real life.

I've seen guys have crazy credit limits and nice looking cards. I'm like I make more than y'all and am way more conservative with my spending. I gotta learn cuz nobody really teaches this and it's important for big wealth building purchases.

 

[Silkk]

Ok I'm gonna look into that. How do you move to the upper tiers of credit cards and credit scores? How long does that take?

I already got the money and discipline. I just don't know my options like what card to go for next, then the next after that, then cli, then another bank then etc it's like a game except it's real life.

I've seen guys have crazy credit limits and nice looking cards. I'm like I make more than y'all and am way more conservative with my spending. I gotta learn cuz nobody really teaches this and it's important for big wealth building purchases.

It honestly just depends, Credit score is of course going to play the biggest role but also income, banking relationship, collections, and recent inquiries.

I bank with Capital One and Chase and was able to get the best cards when I got my score up to 720-740 & applied for them. But I was also denied cards by Amex and Discover because I have no banking relationship with them and two collections on my accounts. Some people say its best to apply for one new card every 6 months, I like to apply for 2 at a time per bank when the time is right inquiry wise and I have my score topped out. Like right now im waiting until March when two inquiries come off my account then I will apply for 2 more with Chase and probably one more with Capital One/Amex.

 

[NeilCartwright]

How often do y’all ask for a credit line increase? And do they do a hard or soft pull?

I wanna get on a steady schedule to increase all my cards every 3 to 6 months.

 

[Astroslik]

CSR+ Amex gold or
Amex Plat+Amex Gold?

 

[Obreh Winfrey]

CSR+ Amex gold or
Amex Plat+Amex Gold?

They're kind all aiming at the same purpose, being travel rewards cards. If anything CSR + Amex Gold. No real reason to get the Gold and Plat together.

 

[Silkk]

How often do y’all ask for a credit line increase? And do they do a hard or soft pull?

I wanna get on a steady schedule to increase all my cards every 3 to 6 months.

Hard pull, I usually request mine same way I do cards. After i’ve applied for my cards and my score is at its peak.

 

[Obreh Winfrey]

How often do y’all ask for a credit line increase? And do they do a hard or soft pull?

I wanna get on a steady schedule to increase all my cards every 3 to 6 months.

Hard pull, I usually request mine same way I do cards. After i’ve applied for my cards and my score is at its peak.

Depends on the company. Capital One does soft pulls, supposedly Amex doex soft pulls unless you ask for too much, then they might do a financial review. Capital One is 6 months apart, i've heard Amex you can get them 3 months apart.

 

[OfTheCross]

BofA played me

They just lowered my limit to 5K

I applied for a joint card today for our household expenses, and instead of just giving me a new card, they split the one i already had in half.

So instead of having 1 card for 13K, I got two cards. one for 5K and the new card is 8K

 

[beenz]

Between all my four credit cards (Barclay, Costco Visa, Boa, Apple), I'm only carrying $300 balance. Which ain't shyt. I use my credit cards a lot barred on which one pays me the most rewards at that particular merchant.

Every year I get at least $300 check from Costco alone which means their credit card pays for my membership with like $250 left to spare. Same goes for my other cards. I never pay interest, so I'm getting cash back on all of them.

I only wish I could charge my mortgage to a credit card each month to get even more rewards.

 

[beenz]

The boa card was my most recent card and I got it cuz they said they'd give me $200 if I spent $1000 in the first 3 months. I made an $1100 purchase and paid it off in two weeks and collected the $200 a coupler months later. Haven't used the card since.

 

[Clark Wayne]

Got another increase on Discover. At 9k now.

Got the Apple Card a few weeks back and only use it for Apple Pay purchases.

 

[MoneyTron]

I've got an old Wells Card, and 2 Chase cards(Freedom and Sapphire). All in my limit is around 49K.

I run my work travel through the Sapphire card. The cash back pays out nice if you travel frequently.