Newby here, but wanted to ask a quick question. I have decent credit - low 700s last I checked. I didn't have much available credit in my name (had 1 card in my wife's name, i think $15K limit), so I put in for a Cap One card. Well, I was approved with a $30K limit.
Just curious if such a high limit will be an asset or detriment to my overall credit. Thanks!!
It is my first time seeing Cap One offering $30k initial CL for individuals.. That is a very good starting CL. I don't see negative sides of it unless you max out you limit or if you don't take good care of your credit.
This card likely will not get used. I just needed some available credit should I ever need it. We have that other card in my wife's name that we use instead and pay off each month - using it just for the points.
To keep it alive, use it sometimes. I put things like utilities and charitable donations on the cards I don't use - keeps them ticking over and I know exactly how much the bill will be every month
The slide from grace is really more like gliding And I've found the trick is not to stop the sliding But to find a graceful way of staying slid
Newby here, but wanted to ask a quick question. I have decent credit - low 700s last I checked. I didn't have much available credit in my name (had 1 card in my wife's name, i think $15K limit), so I put in for a Cap One card. Well, I was approved with a $30K limit.
Just curious if such a high limit will be an asset or detriment to my overall credit. Thanks!!
Are you kidding me! OMG! That is a GINORMOUS initial CL. Congrats! Cherry! You must own your house and make a lot of dough. Use it wisely and you should be fine.
Newby here, but wanted to ask a quick question. I have decent credit - low 700s last I checked. I didn't have much available credit in my name (had 1 card in my wife's name, i think $15K limit), so I put in for a Cap One card. Well, I was approved with a $30K limit.
Just curious if such a high limit will be an asset or detriment to my overall credit. Thanks!!
Sweet CL from CapOne!! That should help your score. Even though you get an inquiry and have to "reage" your history, 30k is a grip of available credit and should more than offset the hits you take initially. IMO...
