First of all, I have an outstanding Auto Loan that is $9,986.11; original amount of this loan was $17,677.51 with interest rate of 3.9% and I started paying this since 2004.
On my second loan I have $606.37 left; original amount of this loan was $1,500 with interest rate of 12.0% Which I started paying in November 2005.
I have been religiously paying on these loan because they are always taken straight out of my paycheck by my bank and I have never missed a payment. Also I used to have a $22,298 loan which was completely paid off in 2003.
I am 24yrs old, I have a $10,000 savings account and I am making about $24,000 a year.
Now, I don't know what my credit score is, but I'm thinking of getting a credit card for emergencies and I soon want to go on a vacation which is 3 years overdue. Is it possible that I can get at least $5,000 limit on a credit card? Or can I get more than $5,000 credit limit?
Please Help. Thank you beforehand.
2006-08-05 19:07:47 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I did got some pre-approved credit card but they are outrageous in APR rates.
2006-08-05 19:27:19 · update #1
By the way, I have not applied for any credit cards yet. So, my credit score is intact. My $10,000 savings account can't be touch untill 2008. The reason why I'm asking this question is because I need a credit card just incase for emergencies.
2006-08-06 03:36:10 · update #2
It Sounds like you are very well off in the credit section of things...as long as you dont have any loans in default and have payed them and not been late, you should be able to get a credit line of at least 5,000, if not much more...
The outstanding loans are the only thing that would bring your credit score down, but not to the level where it would affect the ammount of credit you could get.
Your best bet is to apply and see what happenst, most companies will get back to you realy quickly, some even pre approve you for a small credit line while they review your score.
2006-08-05 19:14:15 · answer #1 · answered by Firesoul 2 · 0⤊ 0⤋
Sounds like you have a good credit history. They like you to make regular payments, plus they like you do have some debt.
I don't think there would be any problem with a higher limit. Easiest way to find out is to call some companies.
2006-08-05 19:12:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
while you're attempt to make a funds strengthen, your card could be denied. yet once you do circulate over your cut back, you would be charged an overlimit value. probability is you would be hit with bigger interest to boot. extremely of overmaxing your credit card, do without or discover some wrong thank you to get funds -- have a storage sale, sell blood, deliver together alum cans, get a 2d interest -- pizza transport has versatile hours and you get funds information.
2016-12-11 07:49:05 · answer #3 · answered by ? 3 · 0⤊ 0⤋
please, do not apply for more credit card. you live on the shoe string. I know you have a tough time with that kind of salary. put off your vacation until you have enough cash. don't be a slave to debt. be debt free. take care of you debt first
2006-08-05 19:37:24 · answer #4 · answered by Hoa N 6 · 0⤊ 0⤋
good payment history but I don't see a 5k limit with a 24k a year job.
2006-08-05 19:13:23 · answer #5 · answered by ML 5 · 0⤊ 0⤋