Credit Cards

[youngman1234]

How does the hard limit work ???? I read on the forum that this happened to others and then a hard limit was placed...... What does that mean.... For example lets say if they put a limit at $2000. Does that mean u can only spend upto 2000 a month ??? or can you spend let say 2000 and then pay off mid month and then charge again..... or if they put a hard limit should I just sock draw it  and for get it and use another card... I basically want to find out what to do next ??? If a hard limit is placed what should I do to not get into a problem later on ...... 

[LS2982]

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youngman1234 wrote:

How does the hard limit work ???? I read on the forum that this happened to others and then a hard limit was placed...... What does that mean.... For example lets say if they put a limit at $2000. Does that mean u can only spend upto 2000 a month ??? or can you spend let say 2000 and then pay off mid month and then charge again..... or if they put a hard limit should I just sock draw it  and for get it and use another card... I basically want to find out what to do next ??? If a hard limit is placed what should I do to not get into a problem later on ...... 

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Lightly use it and PIF.

[youngman1234]

Its ok I am fine with and accept it and learned to live on... I try to read these forums to help me.... My brother helps to read them to me and help me with my credit... I am younger than him and disabled by have better credit than him....LOL 

[youngman1234]

Yes I have.... I submitted everything they asked for just waiting to hear back... They called on sat. my brother helped me to fax them all the stuff sat night, and then I called in on monday morning and a kind gentlemen told me that he will look it over and call me back tonight or tommorrow... Just waiting to hear back....Mean while I paid two payments since my FR.... One for $1k and another for $2k is that wrong ???? 

[youngman1234]

thanks for the info 

[Ron1]

Hard limit is like CL on the credit card. They might remove it when you use your card responsible.

Ron.

[Jake0215]

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youngman1234 wrote:

RON1 i have been reading this forum and over 2 years and always look at your comments and try my best to follow them. You really know alot about credit issues. So i dont understand though ur saying it is bad to charge after you paid the bill off ?? Like for example I charged 750 one week  until sunday.. waited until my check to clear the following thursday and paid off the balance. Meanwhile charged for the following week charges and then paid that amount off the next week. When you say they dont know how much you 're spending what do that mean ??  

Let me give you some of my history plz: 

Hello Everyone, 

First off just wanted to say thanks to this forum, I have learned alot in the past 2 years....  

A little info real quick:

Length of credit history - 1 year 7 months

AAOA: 8 months 

I am 22

2010 - 

Had a BOA secured card - $10,000 limit ( fell to $3,000 after graduating in 11/2011) 

Capital one - $500 ( now $750) 

Care Credit - $1000

Lord & Taylor - $1200 ( now $3,000) 

Macys & Bloomingdales 

2011 - ( In Nov 2011 added 11 new accounts)  Now have: 

BOA Plantinum Plus - 3000 ( the card that unsecured from a $10,000 limit) 

BOA CASH rewards - 2000

BOA Accelerated Amex- 2000

Discover- 1000

Amex SPG 

Penfed Promise - 9000

PNC Bank - 1500

Chase Slate - 3000

Wells Fargo Plat - 1500

Affinity CU - 1000

Barclays - 1300

walmart - 700

these are my cards that I have currently.... 

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I think the fact that you added 11 new accounts in one month is what you did wrong. Don't be surprised if you hear from Barclays as well.

[Ron1]

Don't worry. You will be fine. Let us know.

Ron.

[youngman1234]

Got it..... Im not going to use this card for work related expenses anymore..... Just for my personal stuff... Will hardly spend a thousand a month now.... lol There goes all the points... 

I thought that if you spend on it and pay it off, it will build your spending limit... 

[LS2982]

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Jake0215 wrote:

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youngman1234 wrote:

RON1 i have been reading this forum and over 2 years and always look at your comments and try my best to follow them. You really know alot about credit issues. So i dont understand though ur saying it is bad to charge after you paid the bill off ?? Like for example I charged 750 one week  until sunday.. waited until my check to clear the following thursday and paid off the balance. Meanwhile charged for the following week charges and then paid that amount off the next week. When you say they dont know how much you 're spending what do that mean ??  

Let me give you some of my history plz: 

Hello Everyone, 

First off just wanted to say thanks to this forum, I have learned alot in the past 2 years....  

A little info real quick:

Length of credit history - 1 year 7 months

AAOA: 8 months 

I am 22

2010 - 

Had a BOA secured card - $10,000 limit ( fell to $3,000 after graduating in 11/2011) 

Capital one - $500 ( now $750) 

Care Credit - $1000

Lord & Taylor - $1200 ( now $3,000) 

Macys & Bloomingdales 

2011 - ( In Nov 2011 added 11 new accounts)  Now have: 

BOA Plantinum Plus - 3000 ( the card that unsecured from a $10,000 limit) 

BOA CASH rewards - 2000

BOA Accelerated Amex- 2000

Discover- 1000

Amex SPG 

Penfed Promise - 9000

PNC Bank - 1500

Chase Slate - 3000

Wells Fargo Plat - 1500

Affinity CU - 1000

Barclays - 1300

walmart - 700

these are my cards that I have currently.... 

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I think the fact that you added 11 new accounts in one month is what you did wrong. Don't be surprised if you hear from Barclays as well.

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+1000