The highest initial CL.

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Replied by ColoNative on topic Re: The highest initial CL.

I concur. to have a $100K limit you have to make at least $500K. Too much available credit can be looked upon as "Having the opportunity to get into trouble at any given point" Then again Colonative, if they look at your history of purchases/payments and they see you have managed this kind of limit with frugality and responsibility then if some large purchase were to take place they might give you the benefit of the doubt and watch your repayment plan before doing a CLD or scold you about your instant utilization percentages.

I'm trying to lay the foundation to get an AMEX Green or Gold Card in the near future plus I have my eye on a 6 Series BMW three years from now that I want to lease. If I can continue to manage my credit limit and maintain low utilization, extremely high monthly payments I will be able to achieve these goals with little friction from either of these two merchants.


Oh man, I love the 6 Series-from the 70's and 80's. You should save some cash and get a 3 Series coupe. Do you have that BMW Visa?
10 years 10 months ago #16

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Replied by ColoNative on topic Re: The highest initial CL.

I've herd about Chase's Auto CLI's.
I've had Chase for 2 years and no auto CLI.



I've had two from them automatically since 2001 and one that I requested this spring. They like to see usage, you can't buy small things on the card and sock drawer them and expect an increase. What is your usage like?
10 years 10 months ago #17

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Replied by wmarat on topic Re: The highest initial CL.

RivasGlo, how often do they give auto-CLI's? Once ever 6 months? Once a year?

I've herd about Chase's Auto CLI's.
I've had Chase for 2 years and no auto CLI.
10 years 10 months ago #18

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Replied by smcc on topic Re: The highest initial CL.

I concur. to have a $100K limit you have to make at least $500K. Too much available credit can be looked upon as "Having the opportunity to get into trouble at any given point" Then again Colonative, if they look at your history of purchases/payments and they see you have managed this kind of limit with frugality and responsibility then if some large purchase were to take place they might give you the benefit of the doubt and watch your repayment plan before doing a CLD or scold you about your instant utilization percentages.

I'm trying to lay the foundation to get an AMEX Green or Gold Card in the near future plus I have my eye on a 6 Series BMW three years from now that I want to lease. If I can continue to manage my credit limit and maintain low utilization, extremely high monthly payments I will be able to achieve these goals with little friction from either of these two merchants.
10 years 10 months ago #19

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Replied by ColoNative on topic Re: The highest initial CL.

ColoNative, no limit is dangerous, be it $1000 or a million. I have learned to treat $41K like I had only $4K. Meya and I disagree on this but if you can effectively manage $100K credit limit it looks good to lenders that you can manage that kind of limit without going over, making your payments on time and keeping your utilization under 5% Now obviously you will never need that limit but its good to know that if something monumental comes up you have an avenue to deal with the matter. It will probably be your last resort but you do have that option.

Think of it this way, an effectively managed high credit limit will open other financial doors that can help you and your family achieve certain goals.


Oh, I agree about keeping the utilization low. I just paid my $50 balance in full on my $19K BofA card. I guess my concern with such an obscene credit line like $100K is that unless you have the income to back it up, which I don't, it could be viewed as having too much available credit and it could be viewed as bad by other creditors. I believe I have seen Meya write about that: sometimes not having enough credit is bad and likewise, having too much can be bad. Not just an issue of self control but an issue as to how you will be viewed by other creditors. that is what I was trying to convey.
10 years 10 months ago #20

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Replied by smcc on topic Re: The highest initial CL.

ColoNative, no limit is dangerous, be it $1000 or a million. I have learned to treat $41K like I had only $4K. Meya and I disagree on this but if you can effectively manage $100K credit limit it looks good to lenders that you can manage that kind of limit without going over, making your payments on time and keeping your utilization under 5% Now obviously you will never need that limit but its good to know that if something monumental comes up you have an avenue to deal with the matter. It will probably be your last resort but you do have that option.

Think of it this way, an effectively managed high credit limit will open other financial doors that can help you and your family achieve certain goals.
10 years 10 months ago #21

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Replied by hjm331 on topic Re: The highest initial CL.

RivasGlo, how often do they give auto-CLI's? Once ever 6 months? Once a year?
10 years 10 months ago #22

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Replied by RivasGlo on topic Re: The highest initial CL.

Unfortunately, can not share your love for Chase for only 1 reason


Now that I TRULY TRULY HATE. But they do Auto CLI so thats better than nothing!
10 years 10 months ago #23

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Replied by ColoNative on topic Re: The highest initial CL.

Cap 1 is far away from being an angel. It makes money on sub prime customers, means it willingly takes risk and often refuses to grow with good costumers.
At the same time some customers think that without them bank will go belly up and demand too much.
I have very limited experience with Cap 1 and it was mostly negative.


Sorry you have had negative experiences with them, but I have to say, they have been great. They were my first card nearly 11 years ago and they certainly grew with me. They lowered my APR twice to a low fixed rate and now my credit line is $10K.

I agree with HJM, it has been my experience that people who complain about Capital One usually did something they shouldn't have and Capital One did what they needed to do as any for profit business would. I am not saying that is what happened in your situation but I have seen it all too often.
10 years 10 months ago #24

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Replied by ColoNative on topic Re: The highest initial CL.

Meya, like I told HJM331, one day you both will say "been there, done that" I told HJM331 once Meya, "If I knew at your age what I know now" I would go for the 100K limit that my BankAmericard offers. I know you have your opinion Meya about having too much credit but you guys have time and knowledge on your side and with both of them working to your advantage the sky's the limit !


$100K is dangerous. My BofA is at $19K and that is ridiculous. I will let them go to $20K but anything over that I will have them decrease. I am happy at $10K on my major cards.
10 years 10 months ago #25

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Replied by hjm331 on topic Re: The highest initial CL.

Yeah but it seems like time isn't moving fast enough. :laugh:
10 years 10 months ago #26

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Replied by smcc on topic Re: The highest initial CL.

Meya, like I told HJM331, one day you both will say "been there, done that" I told HJM331 once Meya, "If I knew at your age what I know now" I would go for the 100K limit that my BankAmericard offers. I know you have your opinion Meya about having too much credit but you guys have time and knowledge on your side and with both of them working to your advantage the sky's the limit !
10 years 10 months ago #27

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Replied by hjm331 on topic Re: The highest initial CL.

If I had half of that limit, I would be one happy man! :laugh:
10 years 10 months ago #28

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Replied by Meya on topic Re: The highest initial CL.

Bank of America Signature Visa $41K


:relieved: GOOD LORD! You go smcc!
10 years 10 months ago #29

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Replied by Meya on topic Re: The highest initial CL.

Let me disagree. You can find gazillion threads all over the net claiming that Cap 1 is Crap 1.

Cap 1 is all good at FG. We have members who has posted in regards to cap 1 forgiving them, or approving them with a plan to pay old bill off. I have on some sites where they say Cap 1 was "crap one" but they hardly ever went into details to tell you why! I believe majority of those who says that are the one who screwed over cap 1 in the past and since they are rebuilding, they are mad because cap 1 is doing what any other credit will do, FIGHT FOR THEIR MONEY BACK or UPDATE A NEGATIVE CREDIT REPORT ON THE CB.
10 years 10 months ago #30

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