rainman01 typed:

I'm wondering how much income plays into getting a large CL. I have great credit (over 800), but low income. FirstNational has an income of $230K?!?!? I don't think I'll ever get there (not because I'm uneducated, because I'm a biologist with a phd). Any ideas?
I think that's actually a good topic for a thread -- though perhaps it's a FAQ? I'm new around here.

My thought: a low risk, low margin business increases your top-line revenue (which is useful for business credit) even if it's not very profitable on its own. One example: if you're Web savvy, buy Google AdWords to drive traffic to an ad-supported site. (The key to managing risk: test and measure, only ramping up spending on things that pay off. I'll bet that a niche where you have some knowledge is better than a highly-competitive area like mortgages or medical lawsuits.)

Or, if you know and trust a small business owner who buys lots of things on credit cards (but doesn't read FW for all the tricks), you may be able to buy from their suppliers and turn around and resell, making a little margin via reward points and such -- and positioning yourself for higher CLs for AOR.

A related example: SIS pointed out in the real estate thread that breakeven on rent vs. expenses can still yield a profit via the tax deduction.

Snyder81 said:

When I requested a hard pull CLI from Citi on their website, they wanted my bank account number and the bank's phone number to confirm funds. I could see where giving an account number with 0% BT money could be very beneficial to getting even larger credit lines. We have about $20K in that account right now from wife's 0% BT money and I'm hoping to put in another 80K or so. That would probably look like a good chunk of change to a creditor when requesting a CLI.

Do you know which report Citi pull when doing hard CLI?

How many inquiries did you have before your aor?

tu/eq/ex

OK, this is weird. Today I received 3 separate AMEX Clear cards, all with different numbers. I also received a letter saying my application for the AMEX Clear card has been declined.

FirstNational said:OK, this is weird. Today I received 3 separate AMEX Clear cards, all with different numbers. I also received a letter saying my application for the AMEX Clear card has been declined.

go to the online application status and see how many apps they are showing that you submitted

Online today, all 3 AMEX Clear cards are showing the new CL of $8300.

FirstNational's FICOs are due for a steeper drop once his 0% balances start reporting.

Yeah only about $30K is showing up as of 1/1. But I'm am sticking to my 50% utilization to minimize the impact.

Looking through the links on SIS's pinned thread, I think some of the more agressive AOR's had drops of 100 or more. I think the higher your starting score, and the more agressive your AOR, the bigger the drop.

I plan to keep updating this thread to show the score impact. From what I've heard, the 6-month point is where inquiries start to decrease in impact. Since I had only 3 cards before (with no apps since 2001), I expect an improvement based on number of accounts. I would like to be in a position for a repeat after about a year (Nov 2007). But I really prefer the "rolling AOR" and I'd like to see more input here on that, how to be in a position to receive plenty of lucrative targeted offers.

NinjaPigeon said:FirstNational,

Now that you have gotten so many of your lines approved, can you give us an update on how much of the new available credit you actually got in BT? A total $ amount and also a list of all the fees you've paid so far would be really nice. Congrats on your AOR. Looks like it went well.

NP.

About $101K received, about $10K in transit. Currently in GMAC and E-LOAN MMAs. I don't have a total of the fees handy, I'm out of town at the moment, and away from my spreadsheet. I think it went well, no bad stuff so far, except that one of my Credit Reports has split. I also recently received my first check from cardoffers, that was $85 including the initial $10 first app bonus.

,m