How To Get a Credit Limit of $100,000 FAST | Summary and Q&A

TL;DR

Learn how to diversify your credit card portfolio, demonstrate healthy spending habits, and strategically request credit limit increases to achieve a credit limit of $100,000 or more.

Key Insights

• 💳 Diversifying your credit card portfolio can help minimize risk and provide access to higher credit limits.
• 💳 Demonstrating healthy spending habits and consistently paying off balances in full can improve your credit score and increase your chances of obtaining a higher credit limit.
• 💳 Business credit cards often offer higher credit limits compared to personal credit cards.
• 💳 American Express and Chase are issuers known for providing generous credit limit increases.
• 💳 Waiting for a credit limit increase or applying for a new card are two strategies to achieve a higher credit limit.
• ✋ It is important to request credit limit increases strategically and avoid flagging the algorithm with excessively high amounts.
• 💳 Paying off your credit card balances in full is essential for maintaining a healthy credit card usage pattern.

Transcript

what is going on you guys welcome back to another video in today's video we're gonna be talking about how you guys can get over $100,000 worth of a credit limit amongst your credit cards now if you're new to the channel welcome my name is Brian I talk about credit cards personal finance and anything entrepreneurship related if any of that interests... Read More

Questions & Answers

Q: What are the benefits of diversifying your credit cards rather than relying on one card with a high credit limit?

Diversifying your credit cards helps minimize the risk of fraud or account closure, as you won't be left without credit if one card is compromised. It also shows lenders that you have healthy spending habits and can handle multiple accounts responsibly.

Q: How can I increase my credit limit without applying for a new card?

Demonstrating healthy spending habits and consistently paying off balances in full can improve your credit score, making you more likely to qualify for a credit limit increase. You can also strategically request a credit limit increase from issuers known for providing generous increases, such as American Express and Chase.

Q: Are business credit cards a good option for obtaining higher credit limits?

Yes, business credit cards often have higher credit limits compared to personal credit cards. If you have a legitimate business or side hustle, applying for a business credit card can be a smart way to increase your credit limit.

Q: Which issuers are more likely to provide higher credit limit increases?

American Express and Chase are known for offering higher credit limit increases, especially if you have demonstrated responsible credit card usage with them in the past. They consider factors like your income and credit score when determining credit limits.

Summary & Key Takeaways

• The content discusses the importance of diversifying your credit cards to minimize risk and avoid being left without credit if one card is compromised.

• Demonstrating healthy spending habits and consistently paying off balances in full can improve your credit score and increase your chances of obtaining a higher credit limit.

• Business credit cards often have higher credit limits compared to personal credit cards, making them a valuable option to consider.

• American Express and Chase are issuers known for providing generous credit limit increases, with American Express offering the "3x CL" option after waiting 61 days.