topic Re: Low Limits??? in Credit Card Applications

Low Limits???

gtnitright — Sat, 16 May 2015 16:53:50 GMT

So I recently applied for a credit card. I got approved for the retail card but not their MasterCard because they said my credit limits were low???
Is a card with $5k in it considered low. I know I've seen some folks limits as high as $25k but geesh, I didn't think $5k was considered a low credit limit.

Re: Low Limits???

Anonymous — Sat, 16 May 2015 17:47:19 GMT

No, a $5K limit is not low. Although there are people here who think it is.

They may be looking at your overall card portfolio, which does appear to have a low average.

Re: Low Limits???

navigatethis12 — Sat, 16 May 2015 18:44:45 GMT

Low is relative. A 30000 limit could be considered low for someone that spends more than that a month, but someone else could think that's astronomical. 5000 must be considered low to them.

Re: Low Limits???

Anonymous — Sat, 16 May 2015 19:55:42 GMT

@gtnitright wrote:
So I recently applied for a credit card. I got approved for the retail card but not their MasterCard because they said my credit limits were low???
Is a card with $5k in it considered low. I know I've seen some folks limits as high as $25k but geesh, I didn't think $5k was considered a low credit limit.

Looking at the limits on your cards in your siggy, I wouldn't consider that a low limit.

Re: Low Limits???

empiror22 — Sat, 16 May 2015 19:58:33 GMT

maybe it looks at the aveage, its looks like you have 9 or 10 cards and a total of 20k ish in limits there the avg is somewhere in the 2-2.5k range.... maybe they think that is low.

Re: Low Limits???

gtnitright — Sat, 16 May 2015 20:06:44 GMT

Thanks everyone. I'll try to upgrade next year.