how do i get a huge limit from one credit card and a lower from the next?

Question

2 months ago i recieved a 5k limit..then a i got a approved for 2 8k limits a month after that i get a card from another company with a 1500 limit. how did it go so low? regular payments on time here.

Answer 1

Because you have too many credit cards. Stop applying for them. Every time you apply, you lower your score a bit. Also, creditors look at your total possible credit limit. You had a $21,000 credit limit when you got approved for the $1500 card. They probably only approved that much because you now have the possibility of being over $20,000 in debt. They actually look at that as a negative.

Answer 2

More than likely the lower limit is a result of the three previous approvals, and inquiries, within the past two months. (a lot of credit in a short period)

Stop applying and let those accounts, and inquiries, age for at least six months.
Keep your utilization down, pay in full or at the most a couple payments and they may give you credit limit increases at the sixth month mark.

Answer 3

Each credit card company has its own policies, and they can vary a lot. In many cases, if you want a higher limit all you have to do is ask for it, as long as your credit rating and payment history with them are good.

VISA and Master Card typically start out with higher limits than retail stores, and tend to raise the limits fairly quickly if you have a good payment history.

Answer 4

Everything the previous answers have said is true. One thing that I did not see other people tell you is that credit cards with high interest rates are very eager to give cards to people and set higher spending limits. Before you take out a credit card...read the fine print...the interest rates, the annual fees, the late payment fees, are the interest rates fixed or variable. Trust me , in the world of finance if it's too good..there's a price to be paid. If they offer too much to the quick look....the fine print will tell you how it benefits them more than you....with credit cards that's a given.

Answer 5

could be because now you have all that credit with the potential on running it all up to the limit so now you cannot get a limit so high. it is your income to debt ratio. even if you don't use them you could run them to the limit the next day.