Re: What's your highest Credit Card limit?
02-15-2012 01:52 PM
I couldn't possibly see a bank wanting to give more than $25,000 ( nor have I heard of too many people with higher than this ), what could you possibly buy with that much on a credit card? Car dealers won't let you charge a car on it, they don't want to pay that fee! If I were a bank, I would be willing to give a generous limit, but what if you lose your job. Sure you might make $100,000 now, but what if you have to accept a job for only $60,000, first thing you stop paying is the credit card.. its unsecured.
**EDIT** I forgot Banks don't think when they lend LOL, retract that comment about if I were a bank... that's like saying If I was a Senator I would...
Just this past weekend I purchased a used pickup truck from a local dealer for $17,500 and put it all on a credit card. Then, I transferred funds from savings, paid the card and will enjoy the 17,500 rewards points after the statement drops. I know it is not a universal policy but some dealers will accept credit cards.
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