Re: What's your highest Credit Card limit?[ Edited ]
04-05-2012 11:15 AM - edited 04-05-2012 11:16 AM
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...
There aren't many times one needs a high limit card but there are a few. I had to charter a small air ambulence jet for my mom. It was literally a last minute thing and the charter service only took credit cards. As it was I fortunately had just opened a 25k secured Citi card and was able to negotiate a partial payment on the card and be billed for the rest. It would have been a lot easier if I had a 50k card. Apparently most all the charter services want to be paid with CCs unless you have some sort of longer standing arrangement with them or a prepaid jet card like net jets has.
I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.
WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k