Top 5 banks with big limits

Most people fill out applications incorrectly. The bank looks not only at the score: at income, utilization, inquiries, account history and even at how the application is filled out.

01Chase

• They like a clean credit history and a small number of new inquiries.
• Better to apply when utilization is below 10–15%.
• If you already have a Chase checking account, the chance is higher.
• State your real total income, including business income if you have it.
• Don't understate your income: banks often set the limit based on the stated income.
• If you rent, enter a real and stable monthly housing payment.
• Don't make 5–6 applications in a row before Chase: they look very closely at recent accounts.

02American Express

• They like clients who actively use the card and pay on time.
• Even if the starting limit is average, they often give an increase later.
• In the application, stable income and a normal payment history matter.
• They don't like missed payments even by a couple of days.
• If your first Amex card was handled well, the next ones are much easier to get.

03Bank of America

• They really like relationship banking.
• If you keep money with them in checking/savings, trust is higher.
• Income should look logical relative to your debts.
• They don't like credit cards that are too heavily used.
• They sometimes give very good limits to clients with normal cash flow.

04Wells Fargo

• They look at the debt-to-income ratio and the number of new accounts.
• It's better to apply when there aren't many recent inquiries.
• Job position and income should look stable.
• They don't like it when a person has opened many cards in a short time.

05Citi

• They look very closely at inquiries and new accounts.
• If utilization is low, the chance of a good limit is higher.
• For income, state your full real income.
• Better not to apply right after other banks.
• They often give good limits to people with a strong FICO and a long history.

What to write in applications

• Income. Full real income that you can explain.
• Housing payment. Don't write random numbers: the bank looks at the ratio of income to rent.
• Job title. A normal, stable job title, not vague wording.
• No errors in the address, phone and employment information.
• Business income can also be counted, if it's real.
• Lower your utilization before applying.

Mistakes that get your limits cut

• 10+ inquiries in a short time
• High utilization
• Late payments
• Too many new cards
• Incorrect income
• Applying to several banks at once