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"TOY" Limits???

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Dustink
Valued Contributor

Re: "TOY" Limits???


@JSS3 wrote:

500 or below.

 

Anything someone else can rack up spending on and you don't panic too much. Not a lot of damage can be done with those limits.  I'd also be ok giving a 16 yr old a $500 credit card but not a $1000 one.


I like your example with the 16yr old, but maybe a 10 year old would make more sense.

 

If you are comfortable giving the card to a child, then it would be a toy limit. Although, some kids are more responsable than others...haha

 

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 11 of 19
bluesnowman
Frequent Contributor

Re: "TOY" Limits???

1,000 and under is a toy limit for me. But if the limit is say 1,500-2000+ then it I consider it useable. That and my monthly spending is quite erratic because of where I work, some months I have more tips and a bigger check so I spend more, whereas sometimes It's slow and I have a smaller amount of tips and a smaller check and therefore I have to cut my spending. It just depends really, but I use my Chase cards more since they offer me higher limits which in turn helps my UTL since I'm not a large spender.

Bank of America: Cash Rewards.- 4.2k. 4/25/12 (CLI Increase 6/15/13, CLI May of 2015, sept 2015), Citi: Forward- 4.5k. 10/27/12 (CLI on 2/8/14, SP, CLI on 9/26/15 sp). Discover: More- 7k, 10/27/12 (Increase 6/1/14, CLI in May of 2015, SP 9/2015) Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 5k (EX CLI HP 9/2015) Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-5k 12/8/13 (CLI on 9/2015) Capital one VentureOne Visa Signature-10k (9/6/15). Citi AAdvantage Platinum Select World MasterCard-4K. Last App: 9/6/15. Total cl: 45,300
Message 12 of 19
enharu
Super Contributor

Re: "TOY" Limits???

Honestly depends on the individual and/or business. For example if your work requires you to fly international frequently, one would find that a card that has a CL of 5000 to be insufficient because it's not even enough to cover the price of airfare alone. Whereas to a normal college kid without rich parents, 1000 would suffice.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 13 of 19
SunriseEarth
Moderator Emeritus

Re: "TOY" Limits???


@TheConductor wrote:

This question comes up frequently, and I don't think it ever proves useful to discuss it.  It might be an amusing thing to debate over coffee just to pass the time, but I don't see that having an established standard definition of "toy limit" is going to improve anyone's life or better their credit.

 

For what it's worth, I think the notion of a "toy limit" is very much a matter of relativity.  For someone who spends $5000 in a typical month, anything less than that might feel like a toy limit.  For someone who spends $500 a month, that more modest threshold might mark their definition of a toy limit.

 

But even then, it is also relative to where and how you are using the card.  A $500 limit on a Starbucks card is is hardly a toy, because in that context you are mostly going to be making small everyday purchases under $10.  Meanwhile, a $500 limit on an international airline card is almost a cruel joke, when the vast majority of the fares exceed the limit on the card. 

 

Ultimately, I think all that we learn from threads of this sort is that:

a) some of us are wealthier than others and therefore have a different perspective on what is a truly usable limit, and

b) some of us have different spending habits- some make lots of large purchases, others mostly just spend on everday necessities every month

 

As with many things related to credit, there is no "one size fits all" answer.


+1000

 

To someone rebuilding, a $250 store card limit can be a big deal when you've been denied and denied.  Yes, long ago, I sneered at my $500 AMEX Optima limit, so I cancelled and burned through my 5-digit limits with MBNA and Discover.  I probably wouldn't have gone through BK if I just stuck with that $500 AMEX.  



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 14 of 19
drkaje
Senior Contributor

Re: "TOY" Limits???


@SunriseEarth wrote:

@TheConductor wrote:

This question comes up frequently, and I don't think it ever proves useful to discuss it.  It might be an amusing thing to debate over coffee just to pass the time, but I don't see that having an established standard definition of "toy limit" is going to improve anyone's life or better their credit.

 

For what it's worth, I think the notion of a "toy limit" is very much a matter of relativity.  For someone who spends $5000 in a typical month, anything less than that might feel like a toy limit.  For someone who spends $500 a month, that more modest threshold might mark their definition of a toy limit.

 

But even then, it is also relative to where and how you are using the card.  A $500 limit on a Starbucks card is is hardly a toy, because in that context you are mostly going to be making small everyday purchases under $10.  Meanwhile, a $500 limit on an international airline card is almost a cruel joke, when the vast majority of the fares exceed the limit on the card. 

 

Ultimately, I think all that we learn from threads of this sort is that:

a) some of us are wealthier than others and therefore have a different perspective on what is a truly usable limit, and

b) some of us have different spending habits- some make lots of large purchases, others mostly just spend on everday necessities every month

 

As with many things related to credit, there is no "one size fits all" answer.


+1000

 

To someone rebuilding, a $250 store card limit can be a big deal when you've been denied and denied.  Yes, long ago, I sneered at my $500 AMEX Optima limit, so I cancelled and burned through my 5-digit limits with MBNA and Discover.  I probably wouldn't have gone through BK if I just stuck with that $500 AMEX.  


I also had less CC debt with lower limits.

 


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Message 15 of 19
takeshi74
Senior Contributor

Re: "TOY" Limits???


@TheConductor wrote:

This question comes up frequently, and I don't think it ever proves useful to discuss it. 


+1 It's a subjective matter so there is no single bar for everyone.  $500 to a builder/rebuilder isn't a toy limit.  For me, even $5K is a toy limit as it wouldn't even accomodate my monthly spend with 100% utlization.  My monthly spend is typically 10% utilization without any tinkering.

 

It really depends on one's credit, spend patterns, situation, needs, etc.  My highest CL's ($25-30K) are toy limits for Centurion holders. 

Message 16 of 19
navigatethis12
Valued Contributor

Re: "TOY" Limits???

I remember a time when I thought the 1000 limit I had made me a king. Now, anything below 10,000 I would consider a useless card.

Message 17 of 19
SunriseEarth
Moderator Emeritus

Re: "TOY" Limits???


@takeshi74 wrote:

@TheConductor wrote:

This question comes up frequently, and I don't think it ever proves useful to discuss it. 


+1 It's a subjective matter so there is no single bar for everyone.  $500 to a builder/rebuilder isn't a toy limit.  For me, even $5K is a toy limit as it wouldn't even accomodate my monthly spend with 100% utlization.  My monthly spend is typically 10% utilization without any tinkering.

 

It really depends on one's credit, spend patterns, situation, needs, etc.  My highest CL's ($25-30K) are toy limits for Centurion holders. 


I think you've worded it in a very fair way, takeshi

Some people think a $1500 CL is a joke.  I haven't had that kind of limit since 2008 (the time of my last big credit mistakes).  I'm just in the 3 digit club now, but I'm hoping a CLI from JCP puts me back in the 4 digit club.   So my $250 VS limits at VS and Gold Violin might be toys for some, but I'm proud of my toys.  And just as in real life, toys become collectibles, if you treat them well.



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 18 of 19
vanillabean
Valued Contributor

Re: "TOY" Limits???


@TheConductor wrote:

This question comes up frequently, and I don't think it ever proves useful to discuss it.  It might be an amusing thing to debate over coffee just to pass the time, but I don't see that having an established standard definition of "toy limit" is going to improve anyone's life or better their credit.


 

What happens if you take it up a notch and think of credit limits as simply an example of space? Some need more space, while others, being orderly, need less.

 

Message 19 of 19
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