The 35K Club

[scenery_guy]

Bank of America regular old Visa Platinum card (no rewards no anything). Got in 2002 with a $100K limit. Limit dropped to $25K during housing bubble pop in 2008-2009 but increased to it's current limit of $46K after a few tense phone calls right after I received the reduction notice.

I no longer bank much with Bank of America. I have this and one other credit card with them plus a lonely investment account. It's my next to oldest CC account and my largest line so I'm not poking the bear for a CLI or a PC. I only make a few charges per year on it and then PIF to keep it active. When and if it goes away or gets a CLD I will close all of my BofA accounts and move on. 

[HiLine]

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@scenery_guy wrote:

Bank of America regular old Visa Platinum card (no rewards no anything). Got in 2002 with a $100K limit. Limit dropped to $25K during housing bubble pop in 2008-2009 but increased to it's current limit of $46K after a few tense phone calls right after I received the reduction notice.

I no longer bank much with Bank of America. I have this and one other credit card with them plus a lonely investment account. It's my next to oldest CC account and my largest line so I'm not poking the bear for a CLI or a PC. I only make a few charges per year on it and then PIF to keep it active. When and if it goes away or gets a CLD I will close all of my BofA accounts and move on. 

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Here's to hoping BofA will give me $46k CL some day 

[onthemove]

@HiLine Nope...not yet, but closing soon!

@longtimelurker the reason why I say 35k is because there were few people out there that I saw with more than $30k and even less with $35k let alone $40k. I only saw three people with $40k. 

There are people with 2 or 3 cards from Bank "A" and they have 1-2 from another Bank "B" and bank "C" and "D". I know people say they have them for different reasons, I am NOT judging, it just seems easier to have a big trade line with bank "A", bank "B" and...ect. I've seen people out there with 10+ cards. Just seems like a lot of work to keep up with...

I believe in the KISS method (Keep It Simple Stupid)

[longtimelurker]

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@onthemove wrote:

@HiLine Nope...not yet, but closing soon!

@longtimelurker the reason why I say 35k is because there were few people out there that I saw with more than $30k and even less with $35k let alone $40k. I only saw three people with $40k. 

There are people with 2 or 3 cards from Bank "A" and they have 1-2 from another Bank "B" and bank "C" and "D". I know people say they have them for different reasons, I am NOT judging, it just seems easier to have a big trade line with bank "A", bank "B" and...ect. I've seen people out there with 10+ cards. Just seems like a lot of work to keep up with...

I believe in the KISS method (Keep It Simple Stupid)

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The "how many credit cards should have" question is a frequent thread, so I shouldn't really address it here, but hey, I will anyway:

Having them for different reasons can be totally valid.  Some banks have cards that sets of card that hardly overlap in rewards, so having several makes sense.  In my case, Citi Forward and Premier earn and redeem TYP in very different ways, so it makes sense for me to have both (+ the 5x TYP), and the Citi AA cards offer a different sort of reward, so I have that too.

In other cases, it is historical:  I have the Chase Amazon which I have no need for, which is why I put most of my limit on the CSP.   If I could have PCd the card to another Chase I would have done, but that card cannot be PCd.

Finally, if you aren't concerned with micromanaging your score, it is easy to set as many cards as you have on auto-pay, full balance on due date, and (providing you aren't overspending of course!) you don't have to manage anything.   Others use consolidators such as Mint, or spreadsheets.   But purely a personal decision, there is certainly a good argument to be made for a small set of cards making it very easy to track.

[armbenderc]

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@onthemove wrote:

Who out there has one credit card with a $35,000 line of credit or more? Please name the card and the amount. If you can, tell how long have you had the card. (Amex charge cars don't count)

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How about Amex Green with 35k POT?

Count it!

[LS2982]

Not even close here

[JonStur]

Not here..I guess if I pursued it I could make it happen, but I'm certainly not sweating it...

[MsLadyRover]

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@GatorGuy wrote:

Navy Federal Flagship Rewards with a CL of $55k. I've had it for about 2.5 weeks.

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WOW!

[anderl]

Chase AARP Siggie Visa 35k

[cashnocredit]

I had one over 40k and another over 60k back in the 80's. I used to marvel at the idea that I could charge more on a card than my house, bought in '77, cost (60k at the time). Like an idiot I completely stopped using credit cards in favor of a debit card for convenience. Nor did I finance anything subsequently. They were eventually closed and I had to reestablish credit after having increasing difficulty using debit cards for car rentals and hotels.  Since I've charged more than that on Amex I haven't pursued higher CLs except for the Chase card since my AU and I use it for household expenses.