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Senior Contributor
youngandcreditwrthy
Posts: 6,137
Registered: ‎08-16-2012

Re: is it better to have...(something I was just thinking about)

LOL.... yes, but simply being responsible with credit may warrant add'l credit increases... lol

let's face it.... we don't always spend the credit that's avail.. in fact, that's the goal, right? to not max out every card you have haha.

 

however, typically, income becomes more important as limits get larger I've noticed. LOL :-)

 

+1

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: is it better to have...(something I was just thinking about)

[ Edited ]



youngandcreditwrthy wrote:

LOL.... yes, but simply being responsible with credit may warrant add'l credit increases... lol

let's face it.... we don't always spend the credit that's avail.. in fact, that's the goal, right? to not max out every card you have haha.

 

however, typically, income becomes more important as limits get larger I've noticed. LOL :-)

 

+1


Yeah, I am just saying income becomes a factor later. If income has not grown over time, eventually the limits will taper off as well.

 Can't have 20 cards with $50k limits and an income only $36k. Although, that income may support $100k in total revoloving limits.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Senior Contributor
youngandcreditwrthy
Posts: 6,137
Registered: ‎08-16-2012

Re: is it better to have...(something I was just thinking about)

Oh, I believe you LOL... pfftt... I WISH I had a $50k LIMIT on a card!!!!!

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: is it better to have...(something I was just thinking about)

[ Edited ]

youngandcreditwrthy wrote:

Oh, I believe you LOL... pfftt... I WISH I had a $50k LIMIT on a card!!!!!


I think that too, then realize what is the point? Am never allowed to spend it, because it would be terrible to have to pay back. Utilization isn't that big of a factor since we are paying in full each month.

 

My AAoA is around 6 months, and my total revolving limit is around $18k. I now have one card that is over a year old, so it seems like a pretty good start.

 

From your screen name I am assuming you are in a similar situation as I.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Senior Contributor
youngandcreditwrthy
Posts: 6,137
Registered: ‎08-16-2012

Re: is it better to have...(something I was just thinking about)

LOL.. well pif doesn't necessarily mean you have no util.... often times, statement balances are reported so even if you pif, your "reported balance" is what affects your util.

 

I'm actually 23 with aaoa of about three years.. and I do have a loooottt of cards and decent limits (avg. about $5k).. oldest account is like five or six years.

 

What card did you start building with? Cap One is good to build, but will not likely grow with you or increase your limit(s).

 

:-)

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: is it better to have...(something I was just thinking about)

Yeah, but with decent limits average spending won't harm utilization.

 

I started with a US Bank unsecured card with a $300 limit. After 6 months they increased the limit to $2500. Then after another 6 months they gave me a rewards card with a $3500 limit. Now they are being very strict with granting me more credit, so I am branching out to new banks.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Senior Contributor
youngandcreditwrthy
Posts: 6,137
Registered: ‎08-16-2012

Re: is it better to have...(something I was just thinking about)

VERY NICE!

 

:-)

 I have about $80k+ in avail cred... but it took me YEARS to get a limit that high LOL.. like... three or four years...

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: is it better to have...(something I was just thinking about)

When US Bank cut me off, I combined the limits on the two cards to form a $5000 limit flexperks signature. Now chase freedom gave me a $5000 limit as well, so that went well.

 

Do you have a goal you are working towards?

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: is it better to have...(something I was just thinking about)

Oh, and according to the credit card act. This month I offically became old enough to get a credit card woot! Somehow I managed with no coapplicants or income verification.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Senior Contributor
youngandcreditwrthy
Posts: 6,137
Registered: ‎08-16-2012

Re: is it better to have...(something I was just thinking about)

Luckily, I was 21 when that law took effect.

 

Well, my goal atm is to pay off my Travelocity Amex (I owe $4,600 at 0%) LOL...That'd also get my util well under the 10% I want

 

and then to get a 3xcli to $10,500 at 61 days on my Amex Blue Cash Everyday that I literally opened last week LOL... I might want the Citi Diamond Preferred in like Feb or March after a few inqs fall off, but not sure.

 

then I will just continue building.. might try for a 2013 Nissan Altima lease when I grad in about a year ... unless I stick to my plan of moving to NYC LOL then I won't need a car. I really just need to stay in the garden and build my lines further...and my aaoa needs to increase also. lol

 

What about you?

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

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