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Valued Contributor
Posts: 1,363
Registered: ‎07-13-2013

What kind of limit is this?

Ok so people will pay their bills in store, they can bring their statement which we can scan. Well obviously the statement says the Limit. I saw someones limit and i must say my OCD would kick in if that was mine. I like all my limits rounded to the nearest 500. 

 

This persons limit was $2001 Yes $2001....whats the extra $1 for is what i want to know. 

Wallet: Chase Freedom, CSP, Discover IT
The Exiled Cards: Quicksilver, Target, Elan Financial Services, Best Buy, Sears MC, Chase Slate
8/11/14 EQ: 687
12/27/14 TU: 666
12/10/14 EX: 660 Lender Pull
CC Payoff Challenge 2015 lets do this!
Established Contributor
Posts: 711
Registered: ‎12-05-2013

Re: What kind of limit is this?


Skye12329 wrote:

Ok so people will pay their bills in store, they can bring their statement which we can scan. Well obviously the statement says the Limit. I saw someones limit and i must say my OCD would kick in if that was mine. I like all my limits rounded to the nearest 500. 

 

This persons limit was $2001 Yes $2001....whats the extra $1 for is what i want to know. 


Capital One Secured Card when I was approved for it, had a requirement of $49 for $200 of CL. So initially, I sent in an additional $600 which made the Credit Limit to $751 [200+(600-49)]=751. Sorry for the mathematical explanation at 4am.

 

Then to round it up to 1000, i sent back an additional $24 which made my limit to a round $1000.00

 

I am not saying that this is what happened for sure, but this is what happened to me, so it is possible. :smileyhappy:

FICO® EQ 721 (3/5/15); TU08 742 (3/5/15); EX: 720 (3/5/15) - Last app 12/22/14 (refinanced car @ 2.25%); Inquiries: A TON!

CITI ThankYou Preferred - CL: $2,000




Starting Scores: 590s on 12/2013. Hover over card image to view details! *After Amex approvals - [I was supposed to be] Gardening!*
Valued Contributor
Posts: 1,363
Registered: ‎07-13-2013

Re: What kind of limit is this?

Thats interesting from both of you. As for Secured Card, no this wasnt a secured card. It was a Sears MC. 

Wallet: Chase Freedom, CSP, Discover IT
The Exiled Cards: Quicksilver, Target, Elan Financial Services, Best Buy, Sears MC, Chase Slate
8/11/14 EQ: 687
12/27/14 TU: 666
12/10/14 EX: 660 Lender Pull
CC Payoff Challenge 2015 lets do this!
Mega Contributor
Posts: 16,663
Registered: ‎08-08-2011

Re: What kind of limit is this?

They may have asked for a CLI to make a purchase. PayPal smartconnect is (not!) great about doing that. You want to buy a product ask for a CLI and it asks how much more is needed. If approved that's how much is given and not rounded up to the even amount.

Established Contributor
Posts: 569
Registered: ‎04-02-2014

Re: What kind of limit is this?


Skye12329 wrote:

Ok so people will pay their bills in store, they can bring their statement which we can scan. Well obviously the statement says the Limit. I saw someones limit and i must say my OCD would kick in if that was mine. I like all my limits rounded to the nearest 500. 

 

This persons limit was $2001 Yes $2001....whats the extra $1 for is what i want to know. 


I agree about the odd number bothering me. I would probably ask for a CLD to $2,000 if it was mine lol.






EX FICO (myFICO): 742 (7/1/14) | TU FICO (Discover): 716 (2/8/15) | EQ FICO (Citi): 706 (1/27/15)
Regular Contributor
Posts: 320
Registered: ‎07-02-2014

Re: What kind of limit is this?

When I worked retail customer service, our financing bank told us that the 1 at the end meant that we could call for a same day CLI on the day they applied and they'd be instantly approved.


AMEX Green | Chase Sapphire Preferred $9000 | Discover IT $6000 | Marriott Premiere Rewards $5000 | Chase Freedom $4500 | Barclaycard Visa with Apple Rewards $2000 | CapitalOne Quicksilver One $2000 | US Airways Dividend Miles $2400
Established Contributor
Posts: 769
Registered: ‎06-28-2014

Re: What kind of limit is this?

My OCD would kick in big time if I had a limit like that


NPSL...................$15,300................$11,000................$7500..................$5000...................$5000..................$5000..................$500..........

21 year old college student. FICO 751 TU 757. Been building credit since age 17. Last APP 12/15/14

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