Credit Cards

[injustifiiable]

---

creditnocash wrote:

---

Jlu wrote:

It's a subjective question based solely on one's own income and financial obligations. 

For example, a $100 bill is worth more in the eyes of a homeless man than it is to Donald Trump. A $500 limit card held by a college student making $20k/year is going to be more useful than it is to a professional making $80k/year. This is along the same lines as the 'what makes a card prime' question that comes up every month here.

---

thats what i was trying to avoid prime vs sub.

this is solely for cl question. i know some people on here have cl on 20k+. 

a toy could be a macbook and that costs 2k for a standard one. 

@injustifiiable like stated macy's gave me my first non co signed card with 100 limit and now it sits at 3.5k  and they're cli are soft pull so i still see them as a plus in my book. 

---

Very true.

[maiden_girl]

---

injustifiiable wrote:

---

maiden_girl wrote:

I agree. Anything under $1k is usually considered a toy limit. If you have a long string of cards at $300, $500, $750, $800 it looks bad to other creditors. Most companies will try to match your highest limit card to compete for your business. The lowest credit line I've seen is $100! That's not even a credit line!

---

LOL...doesn't Macy's give out $100 limits to anyone with a pulse? Target isn't much better...giving $200 limits to those in the high 600's- 700's...

---

Haha basically! I started out with $100 at Macys--card is at $1k now. I don't think they periodically review accounts like they say...I had to call to inquire about it.

[nenuco]

By the title I thought you were taking about a Toys R Us card lol I think anything under 1000 CL would be considered a "toy" limit. An "ideal" limit I believe is 5k and up

[calihlove75]

What I consider toy or low limits has evolved over time .I remember when Amazon store card gave me $1000 and I thought that was the coolest thing. When Chase Freedom started me out at $3000, I remember coming on here and hyperventilating like I struck gold. When NFCU started me at $9000, I felt like I surpassed some magical plateau in my credit journey.  A few weeks ago, I applied for the Walmart Discover and they started me at $2000 and I had that  'what, that's all I get' attitude..lol.. and called and they upped to $5000. I imagine someone will those $20,000 + lines would consider some of my credit cards as toy limits!

[migliogiorni]

all cap one cards except for like 2.

[ItchyAppFingers]

I have to agree with JLU. YMMV on this topic but i am a full time college student working part time so making around 18k or less and I have various credit lines starting from my very from my very first credit card (orchard bank) $400 (never grew) to Capital one $500, Sony card $500, BOA $1,000, BBRZMC $800, Chase Freedom $800, Chase Amazon Visa $800 (chase matched up the cards) Amex Zync $500, Amazon Store Card $1,200, Macy's Store Card $1,500, Bloomingdales $400, Kohls $400, and my new Discover IT $1,700. I am more than content with my present credit lines at the moment due to my income. I use my credit wisely to what I can afford to pay in full on a monthly basis. To you it may look like toy limits but its all in the income too and scores. I know some of these cards will grow with me probably after college when I start working my profession and have more of an income. Again, everyones MMV depending on their situation

[nenuco]

@ ItchyAppFingers: First, awesome name. Second, congrats on the Discover IT

[jamesdwi]

I think the lowest card open limit is $50, because the merchant agreement states that all offline (when the merchant is unable to reach the visa or MC network for approvals) purchases of $50 or less are automaticly approved if its more you will have to call in and get approval for the purchases, this was about 8 years ago so it may of gone up by now. 

[somnipotent]

Lowest card limits I've personally had is $250.  It's not really "useless" unless it's combined with an AF, then it's just shooting yourself in the foot to rebuild your credit.  I used it for small purchases until my score improved.  My highest limit ever is my CSP and it's probably due to the fact I have a relationship with Chase (car loan).  I've never seen anyone with a lower CL than $250.

[Koop10010]

I would say a card has a toy limit if it doesn't provide enough credit for the customer to comfortably charge and pay-in-full his monthly expenses with one payment.  If you charge between $300-$500 per month, then a $1000 limit isn't really a toy limit.  If you charge $3,000 to $5,000 per month, then that $1,000 absolutely is a toy limit.