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Regular Contributor
Johnny_Favorite
Posts: 266
Registered: ‎09-05-2012

For People with $25,000 and other High Credit Card Limits

How close do you think the CC company would allow you to get to spending 25 or 30 grand? Let's say you decided to get into debt and before you know it, you're up to $23,000 in debt.


Would they shut you down well before your limit? At 15k would you get a phone call or shut off?

 

How many of you have got close?

 

 




Frequent Contributor
hedgeclipper2
Posts: 421
Registered: ‎07-21-2010

Re: For People with $25,000 and other High Credit Card Limits

They wouldn't shut it down unless they suspected fraud.

 

i charged $21,000 in one charge on my Bank of America card with a $25,000 limit to pay back taxes on a property I got for a steal at a foreclosure auction.  Going on the market next week when the renovations are done.

 

Nary a word from them, charge went right through.

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My favorite card right now: Barclays Priceline Visa Signature
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: For People with $25,000 and other High Credit Card Limits


Johnny_Favorite wrote:

How close do you think the CC company would allow you to get to spending 25 or 30 grand? Let's say you decided to get into debt and before you know it, you're up to $23,000 in debt.


Would they shut you down well before your limit? At 15k would you get a phone call or shut off?

 

How many of you have got close?

 

 


I don't think this is particularly different from lower limit credit cards.  You see here people who have (hopefully mainly in the past!) maxed out or nearly maxed out a credit card.  It damages the score for that period, but it's allowed.  So Iwould expect it to be OK, with possibly a phone call.   Don't think I've gone more than about 10K on a 30K card though.  Hey, I'll give it a try now, what shall I buy.....

Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009

Re: For People with $25,000 and other High Credit Card Limits

As with all things credit, it depends.  Charging $23K on a $25K limit month over month and paying in full each time is not likely to be met with AA.  To the contrary, they'd probably up your limit.  Charging it up and starting to make minimum payments, especially if you are maxing out other cards as well, will most likely get you in trouble.  And then you've got a whole lot of gray in between.

 

That said, my Amex SPG has a $27K limit.  I don't think I've had it much over $13K.  I'm not afraid to do it, I just haven't had the occasion to. 

 

I have let 0% cards sit close to maxed out for multiple months without hearing anything from other lenders.  But my overall utilization was still no higher than about 20% when that was going on, and my other lenders were getting paid in full, so I doubt they would be spooked.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Valued Contributor
navigatethis12
Posts: 1,860
Registered: ‎01-24-2012

Re: For People with $25,000 and other High Credit Card Limits

The only lender I have read people reporting this with is American Express for charge cards. If a lender didn't trust someone to borrow 25000, why give them that limit?

Valued Contributor
Duncanrr
Posts: 2,825
Registered: ‎06-08-2012

Re: For People with $25,000 and other High Credit Card Limits

Got NFCU in nov with 25k CL. Dec I put 12.5k on it and it reported that on 1/2/13. I've paid it down to 8k this month and will report that on 2/2/13.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 688 TU 727 EX 704 CK 696 (FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Valued Contributor
Epcot
Posts: 2,760
Registered: ‎10-10-2012

Re: For People with $25,000 and other High Credit Card Limits

I have my AA card with a mid 20's CL and have charged it up to near the CL a few times over the years. Sometimes it took me a few months to pay it back down. I have never had an issue with Citi yet regarding my charging habits. Just my horrible APR.

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 780 EX 770 TU 774
App free since 4/11/13
Established Contributor
cashnocredit
Posts: 929
Registered: ‎07-18-2009

Re: For People with $25,000 and other High Credit Card Limits


hedgeclipper2 wrote:

They wouldn't shut it down unless they suspected fraud.

 

i charged $21,000 in one charge on my Bank of America card with a $25,000 limit to pay back taxes on a property I got for a steal at a foreclosure auction.  Going on the market next week when the renovations are done.

 

Nary a word from them, charge went right through.


I made a similar tax payment using Amex for a property in my LLC that was over 50k.. Went right through.  Way higher than any other charge I've made.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Regular Contributor
McArthur
Posts: 249
Registered: ‎12-24-2012

Re: For People with $25,000 and other High Credit Card Limits

Not sure about all lenders, but I suspect that they are similar to Chase.  Chase wouldn't bat an eyelash.  If your limit is that high then chances it's a soggy or WEMC and they usually allow you to even go over the limit.

Valued Contributor
CreditScholar
Posts: 2,277
Registered: ‎01-22-2012

Re: For People with $25,000 and other High Credit Card Limits

[ Edited ]

Walt_K wrote:

As with all things credit, it depends.  Charging $23K on a $25K limit month over month and paying in full each time is not likely to be met with AA.  To the contrary, they'd probably up your limit.  Charging it up and starting to make minimum payments, especially if you are maxing out other cards as well, will most likely get you in trouble.  And then you've got a whole lot of gray in between.

 

That said, my Amex SPG has a $27K limit.  I don't think I've had it much over $13K.  I'm not afraid to do it, I just haven't had the occasion to. 

 

I have let 0% cards sit close to maxed out for multiple months without hearing anything from other lenders.  But my overall utilization was still no higher than about 20% when that was going on, and my other lenders were getting paid in full, so I doubt they would be spooked.


+1. This is exactly right. If you charge a lot and PIF, you'll probably get a CLI. If you carry that balance then that's a huge red flag that may result in AA. Every December I charge between 40-50k and always PIF. It doesn't seem to bother them one bit.

FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL

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