Credit Tips: Qualifying for a Credit Card With a High Credit Line

Posted On: February 1, 2006

Author: Guest
Posted: Thu May 22, 2003 11:24 am
Post subject: Qualifying for a Credit Card With a High Credit Line
Hi, I’m new here but I’ve been a member over at creditnet and creditboards for about a year now. A friend of mine wants to balance transfer about $20,000 worth of credit card debt. Her FICO score is 716 (Experian), 709 (Trans Union) and 696 (Equifax). She lives in NYC. Her highest credit line is about 7k.

Michael
Posted: Thu May 22, 2003 2:15 pm
Post subject: Qualifying for a Credit Card With a High Credit Line

Your friend will have to do balance transfers with several cards to cover $20,000. Even with her FICO no card company (or at least I think none) is going to increase her limit from $7000 to $20,000. Be careful that the interest rates on the cards she is transferring TO are less (or better, 0%) than the one she is transferring FROM.

Author: Verne
Posted: Fri May 23, 2003 5:21 am
Post subject: Qualifying for a Credit Card With a High Credit Line

For high credit limits and good transfer offers, I like GM’s (Household Bank) Mastercard. My scores have been in the 695-735 range lately but when they weren’t that great (probably lower than 680) I was getting credit limit increases and balance transfer offers (low interest, no fees) at least once a year. $6,000 to $12,000 credit limit in less than 3 years - without asking. This was during a time when other card companies were changing terms and raising my rates.

But watch it with GM or Household Bank. They review the EQ credit report every month looking for negative information and reason to change terms. (although, of course, they don’t really need a reason - they’re just nice that way)