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Currently most of my cards are around $3K. Lowest is $500, highest is $8K.
When should I stop asking for CLIs? Or more importantly, is it seen as a bad thing if I have a very high limit and rarely use the card (do I risk a credit decrease?)?
NEVER!!!!!!!!!!!!!!!!!
As others have stated never quit asking. As far as a decrease if you use the card even for a few bucks there is little chance of a decrease as there is little risk with a low or 0 balance, this of course as long as your other accounts are in line as well.
@Croselx wrote:..is it seen as a bad thing if I have a very high limit and rarely use the card (do I risk a credit decrease?)?
+1
I am curious, too.
When increased limits will not improve the quality of your financial life.
@Swapmeet wrote:NEVER!!!!!!!!!!!!!!!!!
You took the works right out of my mouth!!!
+10000 on SP don't want to go over board it they are HP
@drkaje wrote:When increased limits will not improve the quality of your financial life.
+1. Or even, when the effort expended exceeds the possible gain. So at present I might click a link if it is a guaranteed SP, but certainly won't call to ask for one. And now I won't even click a link with Citi, as it creates too much followup hassle
To those who say "Never", I'm pretty sure that one day the excitement will wear off! Once you have "enough" credit (for your definition) adding an incremental bit more does nothing.
Thanks for the replies everyone! I'm asking because there are certain cards that I have used in the past for big purchases, but will not be used again other than to keep them active (unless they offer 0% financing or other type of benefit). Most of these cards do SPs for CLIs and currently sit at $5-8K in limits, but can go higher. My worry is that if the limits are too high that it will be seen as too high a risk.