How To Get A High Limit Credit Card In 2019 Without Building Credit Card Debt - UltraFICO

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hello everyone this is Calmar also CEO

on sound of a 2d Club credit

consultation hope everyone is doing well

today we're going to talk about one of

my favorite topics and that is of course

credit cards not because you know credit

card get a very bad rap but mainly

because if you don't know how to use

them or because they can't qualify for

okay it's nothing wrong with OPM and

that's other people's money okay now I'm

a huge you know finance advocate Dave

Ramsey advocate Suze Orman things of

that sort but I would like to think that

people when they come into financial

education especially you know online

because everything is online and you

don't know what's true and things of

that sort so a lot of times people with

entry-level financial education normally

comes Norman air just finally got about

Suze Orman Dave Ramsey and those are

people say listen you need to get you

know your finances in order

if you create a budget you need to

understand how you know how things were

to say to the counts and different

retirement you know things like that and

how to bring down debt and I think

that's great that's a great start for a

lot of people especially they have no

plan at all but then you have that

different spectrum this is where we

start talking about you know stocks and

investing in real estate investing in

Robert Kiyosaki Rich Dad Poor Dad things

that's sort that's what I learned

OPM from because this is where I believe

the risk gets a lot gets a lot higher

Robert Kiyosaki

it doesn't necessarily talk about you

know stocks and bonds he talks about

real estate and you know other

investments and again it's not that one

better than the other again you have to

meet people where they are and a lot of

people going to well I want to say first

that if you don't like credit cards of

course this video is not going to be for

you but let's just cut all that out

let's get straight to the meter than why

you guys came here okay

how to find the book that's what I've

seen the companies that have the highest

credit card limits to their clients now

Marjorie I have over 300 clients and

I've seen a lot of different no credit

cards and credit reports and credit

scores and things of that sort so as of

this year 2017 a lot of the banks of

course given out huge

walking huge credit limits okay so first

off let's talk about how to qualify for

those credit limits because the bank

don't matter if you can't qualify

normally when I see higher limits I

would have to say the score is no

interviews and credit card as well too

because credit car loan is not fight go

fight those non credit Karma but we know

that it just goes around 670 on either

spectrum it's going to be close to 670

around that range we're talking on

overall score now I'm going to get


FICO has a score specifically for credit

cards so if you're looking to apply for

a credit card you can't talk about your

overall FICO score so if you get a free

score through a credit card or if you

get if you apply for an auto loan and a

table to score it that's not the same

school then a bank will see it's going

to be your credit card just so you know

that don't where I'm do another video on

how to read not how to read on how to

get all of your you get your FICO scores

and try to get an understanding of how

to read them okay so the even so number

one I would have to say that your school

has to be someone around I say about 670

667 ever turn around that range um and

you have to be at 660 that has had

previous credit cards prior to this

that's nothing even months when we're

talking about high limits let's just say

I would say a nice high limit will

probably like three thousand eighty five

thousand okay I'll stay higher don't

worry we'll get to that point but if

you're looking to get a credit card with

that minimum limit I'm talking like

right off the you get approval right off

the bat flying three thousand or

something like that that will have to

see your scores going to have to be

around 670 okay and everything 660 I've

seen or two you know depending on what

their previous history looks like again

if you've had a few credit cards you

kept the balances low things of that

sort and depending on who you built the

relationship with not just department

store credit cards department store

credit cards are cool you know but as I

say these are for departmental Target

Best Buy whatever it doesn't matter

um there's only one way to build credit

with department store credit cards

that's to use it guess we're at the

department store CA forcing yourself to

buy something to be afraid hope you have

to do this with your credit then you

just wasting an account of course if

you've got it just have

count or whatever that's fine but keep

in mind again even if you wanted to

build credit with that or you want the

full benefits of it you still have to go

out and force yourself to go purchase

something okay

but without notice is that if a person

is around six seventy or so with a few

credit cards in the past by one or two

with no something like that then

normally about it and every six seventy

around that range or higher that's the

limit right off the bat start as start

about three grand okay now so we're

going to talk about how did my client

add a client she got approved for a ten

thousand dollar limit okay she who

attend I was not a limit because no one

she had I believe about two or three

cards I've listed say three I had three

cars that she had prior to there was at

least a year old okay so she had

established three relationships with

three separate things okay know what's

hidden bank name because it really

didn't matter um and she built those

lists ship she was never late on any of

those and it's just within a year okay

so she applies to that fourth card and

she actually hey if I want to get like a

high limit what competition our goal

with so I told these three companies to

go with and sometimes the fourth and

I'll go into that a little bit uh

welcomes and now actually so number one

lately discovered has been giving a lot

of high limits okay

does not guaranteed of course Tom don't

even wrong

I'm sure they'll give no they give

people sometimes no limits of maybe

Senate fifty maybe five hundred maybe a

thousand but usually when a person gets

approved for discover I rarely see

anything understand a fifty to be honest

with you okay

the reason wanted ads because most of

the time with people even qualify for

discover by that time the first I mean

that first card that they may get and

we're talking about to discover it I

know they have and this is not much

discovered it for students that's

different we're some of the normal

discovered a card okay and we're talking

no we have I've seen limits and highest

I'm talking about ten to twelve to

thirteen thousand and this is my back to

back to back to back so let's discover

um what else

Citibank they're doing is pretty big

chasing as well for those of you who

many of these made with chasing those

from Texas not every bit like it's a

pretty big deal in a lot of in a lot of

states under that put there by a lot of

other banks but chase I mean you know

right off the bat

again chase discover missing change the

reason why I think they're so big

mainly because of their approval process

is a lot different they only take

certain types of scores you know so they

don't take a lot of risk in the subprime

market that surprising iceberg doing

that don't have the best scores and no

the others which you chase look that

anything that's under 680 is just not

the best score for them so they're

probably not going to approve it if they

approve you it may be like an entry

level limit something like that me but

I'm sure you'll be like around 650 660

but most of the approvals going to

happen at 670 680 range or higher okay

and I've seen with no limits

six grand seven grand eight grand now

this income play a role I would have to

say so normally what I'm seeing is that

if you can pay your bills on time they

assume that if your score is of course

your score is going to be higher if

you're ten your bills on time but at the

same time you know most of it that can

do that they're usually at least at

about twenty-four twenty-five twenty-six

thousand dollars a year you know that

diplomats about twelve thirteen dollars

an hour so the kind of like an idea then

of course that's assuming that you're

full-time so it's hard to say income

does not play a role with these higher

limit credit cards mainly because again

if you're taking a billable time they're

more likely to score some be higher and

of course your score is higher more

likely has money to do so okay and when

I cut my astronomical you know you know

income I see a lot of people like you

know but if it's twenty-five twenty-six

thousand dollars a year and you know so

that kind of gives that plays a role as

well so again there will be discovered

in Citibank Chase Bank and of course the

fourth that I kind of see and sometimes

I don't

at least I don't see it that much is

because I don't apply for American

Express coming in American has two

different cards they have of course a

charge card where they have more than

two different cards but I mean they have

two different sections of cars you can

get a credit card letting you the charge

card and I'm going to charge card of

course you swipe it whatever their

building is you have a pad in 30 days

there is no carrying a balance that

throws a little carrying the balance is

at these five four thousand you get a

bill for let's say twenty five dollars

that's not going to happen like most

credit cards you so I put thousands give

you the bill four thousand okay and it's

due like right now okay

good but it's cool though because

instead of having to call a bank and

trying to be like a personal loan going

to that process no I'm

the more you actually long the process

is going to take I not take out a loan

that was pretty large you know recently

to help me know the home-buying itself

but I'll do videos on that to come no

but this took about a week and a half to

get that kind of money so if you assume

I'm doing the credit card that's

completely different you know begin that

payoff time is if we're talking about 30

days window

okay and of course their credit cards

I've seen high limits on their credit

cards to Peckham America does a pretty

good job again US bank there's a lot of

things that do but if you're looking to

have a high limit on a card not some

attention to a major bank Capital One

does it as well - but thanks that will

mount do it and I'm not trying to bash

them but if your credit is not the best

and you get those type of credit cards

banks that you can't really drive by

that don't do commercials things of that

sort then they probably won't give you a

higher limit later down the line without

some type of feet and then Thailand is

like 3,000 higher not too grand - very

cool you know but again it still to me

that entry level it's not bad

so that's just entry level kind of

beginning now that minute it comes we

can never do that not necessarily I have

clients that have Capital One they

started at 300 it was 500 750 and now is

always like five is it grass so it just

happen but if you're looking to get a

holiday run off the back and you know

where you need like we may need to put a

big purchase or something like that and

you you can see an advantage of the 0%

for certain bit of time to charge that

with a personal loan it may take a week

to get the money you got interests that

may or may not be a prepayment penalty

little thin bite that play a role okay

so forth I'll have a link up top where

you can apply for you know they're happy

those particular cards it could be

whatever cards you'll see they're going

to be in categories because I go back

credit so what's good credit excellent

you know there's nobody in that kind of

bracket it's not probably not going to

be a fair credit for its not bad but

fair is like there's no guarantees you

may get a higher limit

why would you need a higher limit what

do you think may need to make a quick

little purchase like right now flipping

a home so of course we have to go make a

three thousand dollar purchase so again

just swipe the cards

keep moving but the higher the limit the

lower your utilization is going to be

that you have to make a move like that

for example if you have a credit card

that has a ten thousand dollar limit you

have a thousand dollar situation you

swipe that car the creditor won't move

as much I'm talking like anything we

that 10% you know thousand over Sonora

thousand run by $10 but in if you have a

thousand dollar credit card you guys do

what I'm going to is down on the credit

card you swipe the four thousand you

just max that card out your school

something they hit all this other stuff

right so that's where higher limits

usually go for because things happen it

can be an emergency of the purchase

whatever if not getting into debt so and

then Robert Kiyosaki will tell you

that's good there's bad debt you know of

course if you have a say an investment

property they have a mortgage on that

property but you have two tenants living

on two separate no floors and you're

making money from that and of course

that would be an example of good debt

I'm not trying I don't want to go into

the whole credit warrior thing that I'm

saying and all that type of stuff

because that is not good at all but at

the same time you know there's an

investment and eventually emotion you

paid off okay it's the same thing as a

lower investment like stocks but you

can't control stocks and I did a video

on that you know nobody should you

invest in real estate or stocks is that

the wrong way either