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What kind of limit is this?

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Skye12329
Valued Contributor

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. 

BK7 - 2/21
Cap1 QS - 2k (4/21)
Mission Lane - 4k (11/21)
Venmo - 900 (11/21)
SavorOne - 2500 (12/21)
VentureOne - 2000 (7/22)
Message 1 of 7
6 REPLIES 6
IamB2
Established Contributor

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. Smiley Happy

FICO® EQ 717 (3/5/15); TU08 732 (3/5/15); EX: 723 (3/5/15) - Last app 3/15/15; 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!*
Message 2 of 7
Skye12329
Valued Contributor

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. 

BK7 - 2/21
Cap1 QS - 2k (4/21)
Mission Lane - 4k (11/21)
Venmo - 900 (11/21)
SavorOne - 2500 (12/21)
VentureOne - 2000 (7/22)
Message 3 of 7
coldnmn
Mega Contributor

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.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 4 of 7
14Fiesta
Established Contributor

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 (AMEX): 728 (4/29/17) | TU FICO (Discover): 737 (4/7/17) | EQ FICO (Citi): 746 (3/28/17)
Message 5 of 7
OHWWCB
Regular Contributor

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.


Hilton Honors $15,000 | AMEX Green | Chase Sapphire Preferred $9000 | Discover IT $6600 | Marriott Premiere Rewards $5000 | Chase Freedom $5500 | Barclaycard Visa with Apple Rewards $2000 | CapitalOne Quicksilver One $2000 | US Airways Dividend Miles $2400
Message 6 of 7
MT936
Established Contributor

Re: What kind of limit is this?

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

Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

Message 7 of 7
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