Credit Cards

[bobebob]

My only real  goal for my limits were to be able to  charge most everything I need to without coming too close to the limits (Usually less than $5K).

(I pay off in full every month)

However to prevent that amount of spending from dragging down my FICO score, I've been raising them over time and now have $52,900 total limits.  Due to the way the NPSL BOFA Visa Signature reports to the CB's my total limit is about 41K for the purposes of calculating Util.

Now when I charge 5K, which is about the max I ever do now since I PIF every month, my Util only shows about 12%.  

Now my normal utilization won't impact my credit score too much and I don't have to pay the balance down prior to statement time to keep my scores up.

I'll probably ask for increases from time to time.  But I'm satisfied with what I have now.

[CreditScholar]

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distantarray wrote:

I have 55k+ now, I'm aiming for 100k+ mainly because I prefer my Fico score to fly first class in luxury, and not have to face the rocky roads of credit / debt ratios

Since I'm known to charge upto 10k a month or so, it's nice to not have to worry about paying my balance down RIGHT before the statement cuts to maximize my Fico score.

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I'm in the same situation and I'm looking for 100k. I average about 10k per month so that would keep my util under 10%, save December when I always have huge spending. I don't like  having too many cards, so I'd like the 100k to be spread over a maximum of 4 cards. This is easily done and I'll have it by the end of thIs year. I'm fairly conservative as far as applications go, so I'm not in any real hurry. 

[snowkitty]

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FutureBillionaire wrote:

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shakalaka wrote:

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Walt_K wrote:

I like having my limits high enough to be able to book airfare and hotel for family vacations without having to worry about multiple payments.

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That´s a good one.

In additon: Enough to not worry about UTIL if a balance reports. Still PIF of course, but not before statement cuts. Aiming to pay on due date.

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I agree with both of these thoughts.

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+1 

I have been thinking 5k was enough for most of my cards but I guess it would be nice to aim higher on at least one card for that purpose. We are planning a vacation across Florida this summer and I want to charge everything to one card to earn cash back and then pif when we get back. But I don't want to max it out.

[Revelate]

Short term, I'd like to get any national bank card above a 5K limit.  I'm hoping to do that within a year but it wouldn't surprise me if it takes two years with my profile.

Long term, I think I'd like to get to around 50K of available credit (we're talking YEARS in my case admittedly); I think this is enough float to cover me for six months if I'm unemployed for a non-trivial amount of time with theoretical expenses of marriage, kids, and mortgage all at some point in the future.  Probably longer than that even, but a six month financial defense position is an absolute minimum in my opinion for target aggregate limit.

[chnceit]

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chnceit wrote:

I want to break the $20K limit  I am currently at $16K! Hopefully this year 

Edit to add break the $100K barrier! Almost there 

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Alright y'all I have accomplished my goal of breaking the $100K barrier with my Cap One CLI today. Soo across all my cards including my biz cards I made it!! Whohoo!! Thanks to this board. Now to maintain it and hopefully no AA or CLDs!!

[BearsAndTurtlesRtheBest]

How about...... NO CL's ......ONE DAY........ONE DAY......ill own a credit card that doesnt have my name because im a AU....... someday.......

[Smug]

I am at 81K want to be above 100K

[visorboy1974]

I blew past my goal of $100K last year.  Now it's a matter of getting the right cards in my portfolio where the points actually mean something to me.  

[creditnocash]

im at 20k right now 

income is at 30k (before bonuses and 401k etc..) 

if i could have a 10k card for emergencies and some use that would be pif would be nice. 

currently have a 5k Mastercard and Amex Zync. (idk if id count walmart since i can only use it there)

[youngandcreditwrthy]

I think I'm at $128k+ of avail cred.

I have plenty of avail cred..LOL

I want to get my Paypal MC to $22,500 (two months)
And my Wmt Discover to $20,000(two months)
And my Amex BCE to $25k(5 more months)
Get Cap 1 Plat to $10k(5 months)

Get approved for a Citi Diamond Preferred account with a $10,000 limit (6 months)

Lol I don't have an overall avail credit goal.

I'm just focusing on certain cards for setting precedent for new approvals in the future limitwise :-)

Good luck everyone!