How big is your CC credit limit?
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Anonymous
| And is it worth trying to increase it if you don’t need to for a specific reason right now? |
Anonymous
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I think mine is 25-30k. I don’t request increases, the CC company just does it and I think they notified me.
I recently opened a new CC with a different company and upfront my limit was in the range above. I don’t know if banks track limit on your cards or not for them to give me this big limit from the start. |
Anonymous
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Too high, about $70k. I had them lower the one where I added DC as an authorized user.
About $50k I can take out as cash for 3-5% fee for a year. |
Anonymous
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My Mastercard has a $100k limit. My discover $45K and my Amex is currently cleared for $250k. All personal cards. I don’t carry a balance but we are extremely high net worth and income and I have charged as much as $200k in a single month when we were having interior design work done.
I am a firm believer in increasing lines of credit when you don’t need them. For this reason I also carry $250k in unsecured lines of credit (not helocs) spread across 4 banks. |
Anonymous
| $2,500. I don't know. |
Anonymous
Why are you a believer in doing this? I mean it looks like you do use them so I’m not sure why you’d say you don’t (although use vs need are two different things). Are the rates on these CC limits different from the regular rates on carrying a balance on the card? Are they introductory or 0%? Do you pay them off in full every month? |
Anonymous
| Mine is $25K and I thought that was a lot. Looks like I should ask for $50K even though I won’t use it. |
Anonymous
| Mine is $23K and I don’t ask for increases. I pay it in full every month. |
Anonymous
| Our main card is 60k, I don’t remember the others. We’ve never asked for increases. We’ve never needed more credit. We pay off our card in full each month. |
Anonymous
| 15-22K |
Anonymous
| We have so many cards (travel points) that I have no idea, but I’m guessing between the two of us across all the cards it’s over $100k. We don’t ever carry balances though and only charge $5-$10k per month total. |
Anonymous
| 75K on one and 50K on another. We don't typically carry a balance - they increase them often, but we asked them to stop a few years ago. |
Anonymous
Really? What if you need to pay for a big purchase? |
Anonymous
| For the past 25 years I’ve had a card with a $50k limit. I have a few others and I believe they total around $125-$150k. I don’t need that much credit but it’s nice to have it available in the event of an emergency. |
Anonymous
| Higher lines = > higher credit score |