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Low Limits???

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gtnitright
Regular Contributor

Low Limits???

So I recently applied for a credit card. I got approved for the retail card but not their MasterCard because they said my credit limits were low???
Is a card with $5k in it considered low. I know I've seen some folks limits as high as $25k but geesh, I didn't think $5k was considered a low credit limit.
Starting Score : EQ 635. TU 632 EX 635
Goal Score: 700. br >
.Nordstrom $800 Loft/$800 Cap 1/$3900 Amex BCE $9000br >
Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Low Limits???

No, a $5K limit is not low. Although there are people here who think it is. 

 

They may be looking at your overall card portfolio, which does appear to have a low average.

Message 2 of 6
navigatethis12
Valued Contributor

Re: Low Limits???

Low is relative. A 30000 limit could be considered low for someone that spends more than that a month, but someone else could think that's astronomical. 5000 must be considered low to them.
Message 3 of 6
Anonymous
Not applicable

Re: Low Limits???


@gtnitright wrote:
So I recently applied for a credit card. I got approved for the retail card but not their MasterCard because they said my credit limits were low???
Is a card with $5k in it considered low. I know I've seen some folks limits as high as $25k but geesh, I didn't think $5k was considered a low credit limit.

Looking at the limits on your cards in your siggy, I wouldn't consider that a low limit.

Message 4 of 6
empiror22
Regular Contributor

Re: Low Limits???

maybe it looks at the aveage, its looks like you have 9 or 10 cards and a total of 20k ish in limits there the avg is somewhere in the 2-2.5k range.... maybe they think that is low. 

Message 5 of 6
gtnitright
Regular Contributor

Re: Low Limits???

Thanks everyone. I'll try to upgrade next year.
Starting Score : EQ 635. TU 632 EX 635
Goal Score: 700. br >
.Nordstrom $800 Loft/$800 Cap 1/$3900 Amex BCE $9000br >
Message 6 of 6
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