To maximize your credit limit on preset limit cards, follow the 3X CLI rule: 1. First month: Keep your balance between 10-30% of the maximum limit at any point during the billing cycle. 2. Second month: Increase your balance to 40-60% of the limit if desired. 3. Third month: Maintain a balance between 40-60% of the limit and ensure you meet any bonus requirements. 4. At the 91-day mark: Request a 3x increase on your current limit. Make sure your balance is $0 at the time of the request, and ensure all payments are fully posted, not just pending. 5. Once approved for the increase, mark a date on your calendar 181 days after this date to request the next CLI. 6. Months 4 to 9: Ideally, cycle the card once a month, but at minimum, do so every 3 months. 7. Your CLI will be 3x the newest limit. For example, if your limit is $2,000 on January 1st, you can request a CLI to $6,000 on April 1st, and then to $18,000 on September 29th. Please note that this strategy is specifically recommended for the Amex Blue Business Plus card. It is not necessary to follow this approach for personal cards, as Amex is not typically relied upon for high-limit preset cards. Regarding preset limits, it is advisable to not exceed a total exposure of $35,000 across all Amex preset limit credit cards, unless you are comfortable with potentially undergoing a financial review. For charge cards (such as Platinum, Gold, Green, Plum, and Black Card), there is no preset limit. The spending power on these cards automatically adjusts on a monthly basis, eliminating the need for CLI requests. I hope this clarifies the information for you. Let me know if you have any other questions!

Navy Federal Credit Union (NFCU) is the largest credit union in the nation and is known as "The House of High Limits." It is highly regarded for its ability to help individuals build credit. In this lesson, we will learn how to become a member of NFCU, even if you are not affiliated with the military or have any relatives in the military. NFCU has certain rules that should be followed when applying for credit cards or credit limit increases. The 91/3 rule suggests waiting at least 91 days and ensuring that 3 billing cycles have closed before attempting any other credit-related activities at NFCU. This rule emphasizes the importance of allowing sufficient time for billing cycles to complete. There is a belief that applying for credit cards during late-night hours when the NFCU credit underwriting office is closed may increase the chances of instant approvals and higher credit limits. However, the significance of the time of day is debated, and it is generally believed that credit approvals are primarily based on factors such as a solid credit report, verifiable personal identification information, and a good relationship with NFCU. NFCU offers various credit products with high limits and no documentation requirements. The Navy Federal Flagship Credit Card has a limit of up to $80,000 without requiring extensive documentation. Other cards, like Cash Rewards, have maximum limits of $50,000. It is recommended to stick to Visa/Mastercard network versions of the cards and avoid Amex network cards. NFCU also provides personal loans up to $50,000 with no documentation required, home improvement loans up to $50,000 without verifying home ownership, and auto loans up to $100,000 with excellent rates. NFCU offers credit builder products, such as the "Pledge Loan," which is a savings-secured loan that helps generate a positive installment account on your credit profile. This loan does not require a credit check and can be opened even with bad or no credit. Additionally, NFCU offers a secured credit card that helps build credit and can graduate to higher limits and better cards, such as the Flagship, after holding the Cash Rewards card for a year.

Hello everyone! My name is Joshua and I am in Philadelphia, pa and I’m here to learn more about credit, how to leverage credit, different CU’s, and creating a business account.