Poll: What is the credit limit of your credit card?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities

What is the credit limit on your most frequently used credit card?

<$2500
8
3%
$2500-4000
7
3%
$4001-6000
10
4%
$6001-8000
13
5%
$8001-10,000
16
7%
$10,001-20,000
83
34%
$20,001-22,000
13
5%
$22,001-24,000
8
3%
$24,001-26,000
29
12%
$26,001-28,000
4
2%
$28,001-30,000
15
6%
$30,001-35,000
10
4%
$35,001-40,000
3
1%
$40,001-45,000
6
2%
$45,001-50,000
6
2%
>$50,000
14
6%
 
Total votes: 245

Topic Author
Tamales
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Poll: What is the credit limit of your credit card?

Post by Tamales »

I won't bore you with the back story on why I'm asking, so I'd just like to get an idea what people have as their credit limit on their most frequently used credit card.

Apparently I need to raise mine to make credit bureaus happy, so I'm wondering, how high is too high?
I've kept mine intentionally low to minimize potential fraud damage, but credit bureaus don't see it that way.

(I was also surprised to find that if you have no debt besides a mortgage and credit cards, and you pay off the mortgage, your credit score will often DROP if you pay off your mortgage.)
livesoft
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Re: Poll: What is the credit limit of your credit card?

Post by livesoft »

I actually do not know.
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JDDS
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Re: Poll: What is the credit limit of your credit card?

Post by JDDS »

My least used card has the smallest limit. My most used card has double that limit. My other card, which I used to use the most, but it is now not the highest reward card, has 4x+ the smallest card.
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Toons
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Re: Poll: What is the credit limit of your credit card?

Post by Toons »

I don't know ,I have to check it out. :happy
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curmudgeon
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Re: Poll: What is the credit limit of your credit card?

Post by curmudgeon »

We have an assortment of cards. Most probably have limits in five figures. Occasionally we might have $2-4K on a card during the month. I don't pay much attention to it, but our "utilization percentage" (balance/limit) is probably pretty low. I have the impression credit ratings care about utilization percentage.
Cash
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Re: Poll: What is the credit limit of your credit card?

Post by Cash »

Tamales wrote: I've kept mine intentionally low to minimize potential fraud damage, but credit bureaus don't see it that way.
You wouldn't be on the hook for that anyway. Just discover it before your payment is due. This is why I never use debit cards, which shift the risk to the consumer (i.e., you're out of money until the bank reimburses you).
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archbish99
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Re: Poll: What is the credit limit of your credit card?

Post by archbish99 »

I used to think that way, and actually called to complain at least once when they raised my credit limit without asking. But we've occasionally had to request increases to fit major purchases -- or rather, make major purchases without that being the only thing in the card -- and I know at least one card is over $10k.
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Re: Poll: What is the credit limit of your credit card?

Post by German Expat »

Used to play the credit card sign up game before going to Switzerland, now still more then 10 open and they have between 10k to 40k limit. My most used ones are now the ones with no foreign transaction fee (mainly Chase Saphire). Curious why you are asking :-).
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Re: Poll: What is the credit limit of your credit card?

Post by Lynette »

.....
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Re: Poll: What is the credit limit of your credit card?

Post by Jack FFR1846 »

I use the card that gets me the most cash back. So I actively use at least 3 cards. The only time I check the credit limit is when I pay my son's semester college bill (around $16k with no fee).

All cc limits together are probably $200k (well over my yearly income)
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Grt2bOutdoors
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Re: Poll: What is the credit limit of your credit card?

Post by Grt2bOutdoors »

I have 2 cards with what I feel are ridiculously high limits compared to my annual spending. Fine, you want to give me the credit, I'll take it.
Doesn't mean I'll spend it though. :twisted:
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SmileyFace
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Re: Poll: What is the credit limit of your credit card?

Post by SmileyFace »

Which one? Mine have quite the range (lowest is $12K and highest is $42K).
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SmileyFace
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Re: Poll: What is the credit limit of your credit card?

Post by SmileyFace »

Grt2bOutdoors wrote:I have 2 cards with what I feel are ridiculously high limits compared to my annual spending. Fine, you want to give me the credit, I'll take it.
Doesn't mean I'll spend it though. :twisted:
I never said no to a credit increase but I had a friend who did. I was at work at the time in an open office environment and I heard him tell the bank "No I didn't want you to raise my credit limit - I've got a wife with bad spending habits - please lower it back down".
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Re: Poll: What is the credit limit of your credit card?

Post by nisiprius »

I have twice turned down suggestions from my card company that they increase my credit limit ($20,000). IIRC the most recent was "we're about to do it" and I had to take positive action to tell them not to.

I haven't paid any attention at all to what the possible pros and cons of having it increased might be. I base it simply on a judgement that it is unnecessary and probably unwise to have a line of credit that I don't actually need. (I didn't personally experience any cuts or freezes circa 2006-2009 but certainly those years showed the folly of believing that a line of credit is equivalent to emergency cash).
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lthenderson
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Re: Poll: What is the credit limit of your credit card?

Post by lthenderson »

When I got my first credit card back in the day, they were forever jacking up my credit limit. It started out as a few thousand dollars and I'm pretty sure at one time it was around $30k. I'm not sure if it was because I called them to get it reduced a long time ago before buying our first house or if they simply stopped doing that but my credit limit has been about $13k for the last decade or so until last year. I tried to buy round trip tickets for everyone in my family plus our normal monthly expenditures and maxed out the card. When I called to increase my credit limit to get by through the rest of the month, I had to speak to several different people explaining why, etc. and then they would only raise it another $2k to 15k where it is now and then only if I paid off some of my balance prior to my next statement. I have never missed a full payment in my life so I was surprised at how much they have tightened things up.
scrabbler1
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Re: Poll: What is the credit limit of your credit card?

Post by scrabbler1 »

JDDS wrote:My least used card has the smallest limit. My most used card has double that limit. My other card, which I used to use the most, but it is now not the highest reward card, has 4x+ the smallest card.
For me it is just the opposite. My most used card, one I got in 2013, is a cashback card which has the lowest limit, while my previous card, one I have had for 25 years through several different banks (and is not a cashback card), has the highest limit. The current bank I have that card from (since the late 1990s) has raised my card limit a few times without any prompting from me.
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ResearchMed
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Re: Poll: What is the credit limit of your credit card?

Post by ResearchMed »

All of our cards have rather high limits, even though they are paid off each month.
There were very occasional times that there was a large monthly balance, like furnishing vacation property from scratch, or a luxury trip.
And DH usually charges his sometimes high-cost business travel on our personal cards, and gets reimbursed later. (We want those points, thank you...)
He's got lifetime elite status on several cards/airlines, but due mostly to total spending from some very intense travel years including extended hotel stays, not from total miles flown.

But much of the higher-cost spending is on Amex, due to the good consumer protections we've experienced the few times it was needed.
That doesn't have the same credit "limit".

Last year, before a trip overseas, I called to let them know to expect charges in specific foreign countries, and asked, just in case, "IF I decide to purchase something expensive, I'd like to be sure I'm not embarrassed by having the charge refused. How much would be okay?" or something like that.

The rep paused, and then asked if "$X" amount would be okay, and my jaw dropped with the high number.
I laughed and said that would certainly be fine.
(In fact, our total "take home" purchases didn't even exceed the customs allowance :wink: )

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bigred77
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Re: Poll: What is the credit limit of your credit card?

Post by bigred77 »

I had to fight tooth and nail to get a credit limit over 2500 dollars. I started working in 2008 and credit was TIGHT. I had to pay for a hotel stay on a business trip over 3 different credit cards! Now I finally have one card with a 20k limit and a couple others around 10k-15k.


For some reason they will give you a limit of X.
But wait, wait, wait... If you spend actually spend X or even X-1, they will punish you for it.
For sure your credit score will take a hit for having too high a utilization ratio.
I actually had AMEX cancel my first card with them because I spent up to my exact limit (I never went over). I have never been late on any payment in my life.
The games they make you play and the hoops they make you jump through...
jumpinjac
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Re: Poll: What is the credit limit of your credit card?

Post by jumpinjac »

What's with this scale? You start with increments of $2,500, then $1,500, the $2,000, then boom! $10,000, then back to $2,000, then $5,000????

It makes it appear like there’s significantly more people in the $10k to $20k category, when, actually, if you combine the FIVE categories you have for $20k to $30k you get almost the same number: 30 (at the current response)

A better method for a simple scale to get a general idea would have been increments of $10k. Based on the current responses, you get something that looks like this below, which gives us a much better idea of where people stand.

Image
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jhfenton
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Re: Poll: What is the credit limit of your credit card?

Post by jhfenton »

I had to look, but our primary Amex limit is $22K. We run $3.5-5K through it most months, and I make $1,000-$1,500 payments every week or two. We've never paid a penny of interest to them, but they're undoubtedly happy with our annual spending and we're happy with the rewards. We have something like $18K and $12K limits on a MC and Visa that we use only occasionally.
cricket49
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Re: Poll: What is the credit limit of your credit card?

Post by cricket49 »

Mine are 21,000 and 27,000. I fought for years calling and getting the limit reduced due to
fraud. Finally gave up. We pay our balance off every month so it is not an issue.

I have been a part of 2-3 credit card breaches in the past few years so
it seems normal that this is our future. No fraud charges but I contacted the cc company
and they issued a new card and number.

I did, however, put a freeze on my credit at all 3 credit bureaus. We don't try to get
more credit cards or loans so it is an additional way to secure against identity theft.
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HardKnocker
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Re: Poll: What is the credit limit of your credit card?

Post by HardKnocker »

$40,000+

In the perverse logic of banking, give large amounts of credit to those who do not need it.
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Riceman
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Re: Poll: What is the credit limit of your credit card?

Post by Riceman »

Highest is 30k. My lowest (capital one quicksilver), which was my primary card for a while, only had a credit limit of 3000 for more than a year (now it's 7k). I actually got turned down twice for an increase on it while having one card with 30k and another with 20k. I did create a few new cards a the same time, but capital one's reluctance to increase my limit was still baffling.
nordlead
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Re: Poll: What is the credit limit of your credit card?

Post by nordlead »

The limit on a single card doesn't matter to the credit agencies. What matters is percentage used of the total credit limit (all combined cards). Also, some CC's don't report the limit, so the credit agencies use the highest number ever reported to them. This means that a CC that never gets used with a $15k limit could count as a $0 limit. Also, you don't really have to care about fraud with a CC as you are liable for $0 (or $50 at worst) regardless of how much is charged on the card.

My main card has ~$9k credit limit, but I have a bunch of other cards that I don't really use including one with a $15k credit limit.
sharpjm
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Re: Poll: What is the credit limit of your credit card?

Post by sharpjm »

Wow this is good to know and really puts things into perspective. My limit is $4400 and I typically have to pay off balance right before occasional big purchases to get my 1% rewards. I think I will request an increase on limit (also to help with % credit used statistic).
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rob
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Re: Poll: What is the credit limit of your credit card?

Post by rob »

I once called to REDUCE the limit I had on a card (I wanted a card to use in vending machines with a $500 limit ).... It was like I had 2 heads. The rep kept asking if I meant increase and was I really sure I wanted less :?
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protagonist
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Re: Poll: What is the credit limit of your credit card?

Post by protagonist »

The larger your limits the better, ultimately, is your credit rating, assuming you pay off your cards every month.
A fairly major component of credit score is the percent of your available credit that you use each month- the lower the percentage the better.
But if you don't pay it off each month religiously, beware!!! And PLEASE pay it off in full monthly ....no excuse to pay usurious interest rates and penalties. If this is an issue, keep your credit limit as low as possible or avoid credit entirely.
An aside- I don't think credit companies do anything to check whether your declared income on your credit application is accurate when you apply.
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Tamales
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Re: Poll: What is the credit limit of your credit card?

Post by Tamales »

Thanks for all the replies.

bigred77: "For sure your credit score will take a hit for having too high a utilization ratio."

This is the basis of my question. The irritating thing is that utilization ratio is not based on unpaid balance at the end of the month (which would be zero every month in my case), it's based on your balance on whatever day they choose to provide it. They don't tell you what number they use for a given month so you have no way of knowing.

About all I can guess is that typically they are providing the number mid-cycle, so it includes the prior month's balance due and half the current month's balance. While I think this is a ridiculous way to report the data (they should also be required to report the unpaid prior month balance after the due date), this makes my utilization ratio relatively high (my credit limits are set relatively low and I've rejected increases). So I guess I have to play their game and increase my credit limit, and like magic, by changing nothing else, my score should go up.

My Vantage 3.0 score (which one of my cards just started providing) says quite bluntly in its advice that my credit limit is too low. Here is their exact wording: "Your largest credit limit on open bankcard or revolving accounts is too low. Having higher limits gives you access to credit without seeking new loans or becoming overextended — which are triggers for higher risk."

Yep, they really just encouraged increased credit overextenstion risk on credit cards, and claimed it has just the opposite effect. All this without them knowing the slightest bit about my liquid assets, and absolutely no consideration of the fact that I always pay all balances in full every month.


jumpinjac: "What's with this scale? You start with increments of $2,500, then $1,500..."

I am mainly interested in how many people have limits in the 20-30k range since that's where I'd potentially increase it to. After I typed that in, with 2k increments, I decided to add "<10k" and "10k-20k" below that, and then decided instead to break out the sub-10k range with a few more increments. In retrospect I wish I had broken out the 10-20k range into 2k increments as well. Oh well. The choices above $30k were just added out of general interest, and I'm not considering an increase that high.


nordlead: "The limit on a single card doesn't matter to the credit agencies. What matters is percentage used of the total credit limit (all combined cards)."

From all I've read, the credit agencies consider the utilization ratio on both individual cards and collectively. I think the single combined approach you describe makes more sense, but that's definitely not what they all do. My Vantage 3.0 score "tips" make mention of both individual and collective ratios.
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goingup
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Re: Poll: What is the credit limit of your credit card?

Post by goingup »

Cash wrote:
Tamales wrote: I've kept mine intentionally low to minimize potential fraud damage, but credit bureaus don't see it that way.
You wouldn't be on the hook for that anyway.
Exactly right. I'm baffled why people are worried about minimizing fraud damage. I've had fraudulent charges on several cards over the years which required card replacement. It's an inconvenience but never cost me anything. This happens irrespective of any credit limit.

The reason to have a large credit limit is so that you never utilize more than 30% of it at any time. Greater than 30% utilization is not good for your credit score, as I understand it.
knowsnothing
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Re: Poll: What is the credit limit of your credit card?

Post by knowsnothing »

Way more than I'd ever use.

As far as utilization goes I think the biggest downside (for me) is the need to track multiple cards for potentially fraudulent purchases.
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nisiprius
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Re: Poll: What is the credit limit of your credit card?

Post by nisiprius »

protagonist wrote:...And PLEASE pay it off in full monthly ....no excuse to pay usurious interest rates and penalties.....
I agree completely.

But it's worth noting that credit card company consider people who pay off in full every month to be undesirable "deadbeats" because they are using the credit card but not letting the card company make money off them. I don't know if it's still true, or if it was ever a widespread practice, but at one point there were stories of credit card companies terminating the accounts of such "deadbeats" or forcing them into cards with annual fees. These days though I think they are happy enough just to be getting the fees from the merchants.
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Tamales
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Re: Poll: What is the credit limit of your credit card?

Post by Tamales »

According to this article: http://www.military.com/money/personal- ... on-be.html

"An ideal credit utilization rate would be less than 10% on individual accounts and overall, although less than 20% is still pretty good. Once your credit utilization rate goes over 40%, your credit score will be very significantly impacted. Depending on your starting point, the difference between 10% utilization and 100% utilization can be nearly 100 points."


I guess the downside in requesting a credit limit increase sufficient to get utilization below 10% most months would be that the request will prompt a hard pull of your credit report which in turn drops your credit score.
adamthesmythe
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Re: Poll: What is the credit limit of your credit card?

Post by adamthesmythe »

There is no option for "I don't know."

I'm not even sure where to find out.
Crow Hunter
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Re: Poll: What is the credit limit of your credit card?

Post by Crow Hunter »

$12-16k on 3 different cards.

I had to ask for it though on the 2 newest cards. I got them for the rewards and called right after getting them an told them that I was getting ready to make a large purchase and I would like to use their card but I needed a larger limit. They asked me a couple of questions and poof, there it was.

One of the cards I have had for a long time and it creeps up a little every so often but I only use it for one charge every month (Netflix) just to keep it from going dead in case I ever need it. It has poor rewards so I don't use it.

In one case we had a "credit hold" on one card due to suspicious activity and I didn't realize that was why the card wouldn't process. (My wife tried to purchase $600 of Subway food for a business meeting once and Chase thought that was suspicious and locked out the card :? ). It is nice to have a backup since neither of us carries any significant cash.

Our "normal" expenses are roughly $2,000 +/-600/month but on occasion I have used the credit card to pay expenses in the $8,000+ range to capture the points and then wound up having another large expense hit at the same time where I didn't have electronic access to my checking account and couldn't pay off existing balances before I wanted to make another large purchase. It is nice to have the extra "wiggle room".
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Re: Poll: What is the credit limit of your credit card?

Post by OatmealAddict »

$30K on our Capital One Venture card, though we'll never come close to the limit. I pay if off every Monday and it's never more than $1,000 or so.
protagonist
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Re: Poll: What is the credit limit of your credit card?

Post by protagonist »

nisiprius wrote:
protagonist wrote:...And PLEASE pay it off in full monthly ....no excuse to pay usurious interest rates and penalties.....
I agree completely.

But it's worth noting that credit card company consider people who pay off in full every month to be undesirable "deadbeats" because they are using the credit card but not letting the card company make money off them. I don't know if it's still true, or if it was ever a widespread practice, but at one point there were stories of credit card companies terminating the accounts of such "deadbeats" or forcing them into cards with annual fees. These days though I think they are happy enough just to be getting the fees from the merchants.
I have heard the "deadbeat" argument before but only from acquaintances....what I have read online is that paying it off in full every month is good for your score.

My credit score, last checked, was 815. I have a lot more credit than I use, 15 open cards currently (because I play the churning/points/mileage game), I pay my cards off in full every month, and I have had several hard pulls over the past year as well as opened several new cards and cancelled others. I do not have a mortgage, car loan, or any other debt. So I don't think any of these practices are significant issues if you pay off your cards in full monthly and grossly underspend your credit limit.

To assure paying in full monthly I have all my cards on "auto-pay" via my Fidelity account. In the worst possible case, if I inadvertently overdrew the cash in my Fidelity account, I would wind up paying margin interest for the days or weeks before I noticed (once or twice this happened and I noticed a couple of days later....the interest amounted to pennies). I don't risk paying ridiculous penalties or interest to credit card providers (or penalties possibly charged by overdrawn bank accounts).
Last edited by protagonist on Thu Apr 09, 2015 12:19 pm, edited 2 times in total.
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CABob
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Re: Poll: What is the credit limit of your credit card?

Post by CABob »

adamthesmythe wrote:There is no option for "I don't know."

I'm not even sure where to find out.
Perhaps on your monthly statement?
:|
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Re: Poll: What is the credit limit of your credit card?

Post by The Wizard »

I have two cards: one MC, one Visa.
They have reasonably high limits and I generally request an increase in my credit limit online with each card once or twice a year.
I sometimes get denied an increase due to too soon after the previous one.

I have two "paychecks" per month in retirement, and I generally pay off the balance on both cards after each paycheck even before a bill has been sent.
This keeps my utilization percentage low...
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scone
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Re: Poll: What is the credit limit of your credit card?

Post by scone »

We didn't have any credit cards for years and years, just a debit card, but apparently that affected our credit rating. Now we have one, use it a little every month, and presto our credit rating is back up over 800. Perverse incentives. :annoyed
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dolphinsaremammals
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Re: Poll: What is the credit limit of your credit card?

Post by dolphinsaremammals »

nisiprius wrote:
protagonist wrote:...And PLEASE pay it off in full monthly ....no excuse to pay usurious interest rates and penalties.....
I agree completely.

But it's worth noting that credit card company consider people who pay off in full every month to be undesirable "deadbeats" because they are using the credit card but not letting the card company make money off them. I don't know if it's still true, or if it was ever a widespread practice, but at one point there were stories of credit card companies terminating the accounts of such "deadbeats" or forcing them into cards with annual fees. These days though I think they are happy enough just to be getting the fees from the merchants.
I have never had that happen to me and maybe once in ten years do I not pay in full every month. They still make money off the merchants, as you noted.
lack_ey
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Re: Poll: What is the credit limit of your credit card?

Post by lack_ey »

The one I use the most now has $3K as the limit, but I think one of the others has $5K. Or was it $10K? I think I went above 50% on a card once in my life.
rec7
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Re: Poll: What is the credit limit of your credit card?

Post by rec7 »

bigred77 wrote:I had to fight tooth and nail to get a credit limit over 2500 dollars. I started working in 2008 and credit was TIGHT. I had to pay for a hotel stay on a business trip over 3 different credit cards! Now I finally have one card with a 20k limit and a couple others around 10k-15k.


For some reason they will give you a limit of X.
But wait, wait, wait... If you spend actually spend X or even X-1, they will punish you for it.
For sure your credit score will take a hit for having too high a utilization ratio.
I actually had AMEX cancel my first card with them because I spent up to my exact limit (I never went over). I have never been late on any payment in my life.
The games they make you play and the hoops they make you jump through...
My credit is great but my income is low so my credit lines are low also. I also think companies are way tighter now than in years past.
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Johno
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Joined: Sat May 24, 2014 4:14 pm

Re: Poll: What is the credit limit of your credit card?

Post by Johno »

Most frequently used is pretty new, $20k, second most frequently used is older $35k, another fairly new one (I got just to see if Credit Karma's simulator was right, saying my score would go up if I got another card... which it apparently did) is fairly little used, $27k.

Credit scoring is an inherently weird process because they have comprehensive access to info on only one side of your balance sheet, debt, not assets, nor income besides what you say it is. So there's no use trying to make sense of it. Higher limits lead to a higher score eventually if you spend the same amount and pay in full on time. But that's further enhanced if you use as little of the higher limit as possible. I pay the primary card in advance based on what I estimate we'll spend or specially for any big purchase, and keep the balance negative most of the time. I try never to let it get over $2k, though I pay for everything possible with CC, unless it's not accepted or I can get a discount for cash bigger than the cash back. So lately there's $82k of line and at most ~$4k outstanding on the three cards during the billing cycle, so the agencies say I'm an even better boy than I used to be and my score has risen from borderline good-excellent to excellent. The previous score seemed to be hurt by no other debt ever (as far as they're concerned, had a mortgage many years ago), no late payments ever. It's kind of ridiculous, but you have to go with it.
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8foot7
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Re: Poll: What is the credit limit of your credit card?

Post by 8foot7 »

I have a $5,000 credit union Visa and an American Express charge card with no pre-set limit but that will let me put through at least $35,000 in a single charge, perhaps more. I have never deigned to try a higher amount.

My wife has a $20,000 Chase Visa limit.
adamthesmythe
Posts: 5761
Joined: Mon Sep 22, 2014 4:47 pm

Re: Poll: What is the credit limit of your credit card?

Post by adamthesmythe »

CABob wrote:
adamthesmythe wrote:There is no option for "I don't know."

I'm not even sure where to find out.
Perhaps on your monthly statement?
:|
Thanks, didn't know that. I only look at the number after "this amount due" so I can pay the right amount.
keystone
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Joined: Tue Aug 28, 2012 12:34 pm

Re: Poll: What is the credit limit of your credit card?

Post by keystone »

I never paid much attention to it until this thread. The lowest is $7,200 on a card I just opened, but the highest is $20,000 and that is the card I use most frequently.

I used to look at credit limits when I was in college because my first credit card had a $500 limit and I would push it near the limit some months. I remember the feeling of jubilation when the limit would periodically increase.
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Tamales
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Joined: Sat Jul 05, 2014 10:47 am

Re: Poll: What is the credit limit of your credit card?

Post by Tamales »

I am surprised that nearly 10% of responses have over a $40k limit on a single credit card! Is this due to running balances that have accumulated, or do you want the ability to impulse buy a car or what exactly?
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prudent
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Re: Poll: What is the credit limit of your credit card?

Post by prudent »

One issue I didn't see mentioned is that each bank has its own criteria and methods of giving credit limits. Some are stingy, others are generous. It's a waste of time to chase a large limit from a stingy issuer. Also, once you get a large limit, other issuers are more likely to give you large limits if they give them. If your highest limit is $8K, it's unlikely another issuer will give you $30K even if that issuer is known for being generous. But if you already had a $20K limit, the $30K might happen. But as has been mentioned, in the current environment I think most issuers have tightened up.

And a consequence of tightening is the risk of issuers cutting your limits if they see you are near your limit on someone else's card, which is another reason to stay way below your limit all the time. If you are going to charge up near your limit and plan on paying in full, make a large payment before your statement closes so the balance reported isn't as high. Most issuers report balances when the statement closes but not all do.

Once I got a $30K limit from a generous issuer, every card I got after that had limits of $15K-$25K. The only reason I want to have high limits is to make sure my % utilization stays low.
harikaried
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Joined: Fri Mar 09, 2012 2:47 pm

Re: Poll: What is the credit limit of your credit card?

Post by harikaried »

Tamales wrote:I am surprised that nearly 10% of responses have over a $40k limit on a single credit card! Is this due to running balances that have accumulated, or do you want the ability to impulse buy a car or what exactly?
I just applied for a new credit card for sign up bonuses and was surprised it came back with $50k limit. I don't plan on having cumulative spending ever on this card more than $3k.
Caduceus
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Joined: Mon Sep 17, 2012 1:47 am

Re: Poll: What is the credit limit of your credit card?

Post by Caduceus »

I've declined all the credit limit increases available to me. I don't see a point in having a credit line that I won't use. Once they automatically increased my limit by a ridiculous amount. I called to tell them to revoke the limit and to leave a note to stop raising it.
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