topic Re: $250,000 credit limit in Credit Cards

$250,000 credit limit

plasticguy — Tue, 04 Aug 2009 18:04:48 GMT

That's the only reason why I applied for this card back in 2007. Little did i know that high limit was to get your attention. It got mine! I only received 30K

There's no limit to what you'll enjoy with the

MERRILL+® Visa® Credit Card.

2 Ways to Get Started

Earn points for everyday purchases and redeem them for a wide variety of merchandise, gift cards and travel experiences. There's no limit to the number of points you can earn—or ways to reward yourself.
* No annual fee and a low competitive 9.99% annual percentage rate (APR).†
* Anytime, Anywhere, Any AirlineSM —air rewards starting at 25,000 points, with no blackout dates.§
* Earn 1 point for every $1 spent on net retail purchases and accrue unlimited Merrill Points®.§
* Zero liability protection and early fraud warning.**
* Credit line may be as high as $250,000.

Re: $250,000 credit limit

score_building — Tue, 04 Aug 2009 19:39:07 GMT

@plasticguy wrote:
That's the only reason why I applied for this card back in 2007. Little did i know that high limit was to get your attention. It got mine! I only received 30K

There's no limit to what you'll enjoy with the

MERRILL+® Visa® Credit Card.

2 Ways to Get Started

Earn points for everyday purchases and redeem them for a wide variety of merchandise, gift cards and travel experiences. There's no limit to the number of points you can earn—or ways to reward yourself.
* No annual fee and a low competitive 9.99% annual percentage rate (APR).†
* Anytime, Anywhere, Any AirlineSM —air rewards starting at 25,000 points, with no blackout dates.§
* Earn 1 point for every $1 spent on net retail purchases and accrue unlimited Merrill Points®.§
* Zero liability protection and early fraud warning.**
* Credit line may be as high as $250,000.

only 30k? umm, ok, then maybe you can request a cli.

Re: $250,000 credit limit

Anonymous — Tue, 04 Aug 2009 20:10:12 GMT

plasticguy wrote:
That's the only reason why I applied for this card back in 2007. Little did i know that high limit was to get your attention. It got mine! I only received 30K

There's no limit to what you'll enjoy with the

MERRILL+® Visa® Credit Card.

2 Ways to Get Started

Earn points for everyday purchases and redeem them for a wide variety of merchandise, gift cards and travel experiences. There's no limit to the number of points you can earn—or ways to reward yourself.
* No annual fee and a low competitive 9.99% annual percentage rate (APR).†
* Anytime, Anywhere, Any AirlineSM —air rewards starting at 25,000 points, with no blackout dates.§
* Earn 1 point for every $1 spent on net retail purchases and accrue unlimited Merrill Points®.§
* Zero liability protection and early fraud warning.**
* Credit line may be as high as $250,000.
What! "only 30k"

I think a recon is in order!!

LOL

Re: $250,000 credit limit

Red1Blue — Tue, 04 Aug 2009 21:22:22 GMT

Unless you are renting a private jet why do you need more that $30K Cl. It is kind of nice feeling to say I have credit, but what are you going to do with it? If you revolve the balance you are going to pay the interest through your nose. If you do PIF $30K / month is lot of money to spend and pay in a month. By the way contrats on your approval. Call them and see if they would give you CLI.

Re: $250,000 credit limit

Lyythine — Wed, 05 Aug 2009 01:18:31 GMT

.......only 30k, huh? Ashame!

Its the economy - 2 years ago, A kid with two twinkies and a jar of coins could have gotten 250k limit (I jest), but those days of frivolity and squander are all over. Moderator Cut!

In the future, please do not discuss politics in the forums, it violates myFICO's terms of service.

Things We Do Not Talk About

--fused, myFICO moderator

P.S. Please add sarcasm - but congrats OP on the approval, from what Ive read - its a great card to have!

Message Edited by fused on 08-04-2009 03:13 PM

Message Edited by fused on 08-04-2009 03:18 PM

Re: $250,000 credit limit

fused — Wed, 05 Aug 2009 01:15:35 GMT

Thread is unlocked!

Re: $250,000 credit limit

wmarat — Wed, 05 Aug 2009 01:45:51 GMT

Why not Sould I remind that avail. credit is not a debt?

@Red1Blue wrote:
Unless you are renting a private jet why do you need more that $30K Cl. It is kind of nice feeling to say I have credit, but what are you going to do with it? If you revolve the balance you are going to pay the interest through your nose. If you do PIF $30K / month is lot of money to spend and pay in a month. By the way contrats on your approval. Call them and see if they would give you CLI.

Re: $250,000 credit limit

Anonymous — Wed, 05 Aug 2009 02:24:59 GMT

@plasticguy wrote:
That's the only reason why I applied for this card back in 2007. Little did i know that high limit was to get your attention. It got mine! I only received 30K

Remember, originally Merrill only granted you a $10,000 credit limit. In your 11-19-2008 post (http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=129541&query.id=463628#M129541), you stated:

"I got a 10k increase added to my existing 10k VIA phone also about a year ago, then I closed out My BOA Sig and moved the CL to Merrill. Now I have 30.4K"

Re: $250,000 credit limit

Anonymous — Wed, 05 Aug 2009 02:32:38 GMT

lol you've got some memory!

Re: $250,000 credit limit

Anonymous — Wed, 05 Aug 2009 02:37:00 GMT

LOL

agreed....VERY impressive memory!

Re: $250,000 credit limit

wmarat — Wed, 05 Aug 2009 02:37:29 GMT

By the way, OP, what's your Discover CL?

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=117954&view=by_date_ascending&page=2

Re: $250,000 credit limit

Anonymous — Wed, 05 Aug 2009 02:46:05 GMT

The memory abilities of some members of this forum should be noted by all....LOL!!

Re: $250,000 credit limit

plasticguy — Wed, 05 Aug 2009 10:53:17 GMT

Discover:

Current Balance $52.96 Recent Activity
Last Statement Balance $0.00 View Statement
Minimum Payment Due $0.00 Make Payment
Cash Credit Available $8,200.00 Get Cash Now
Credit Available $15,945.00 Credit Limit $16,000

Discovr Cd
Status as of [?] Jul, 2009
Date opened [?] Apr, 2006
Date of last activity [?] Jul, 2009
Date closed [?] Not Reported
Account number [?] Not Reported
Loan type [?] Not Reported
Credit limit [?] $16,000
Largest past balance [?] Not Reported
Terms [?] Not Reported
Account Type [?] Revolving
Account holder [?] Individual
Scheduled payment amount [?] $0
Descriptions [?]

DOES THAT ANSWER YOUR QUESTION?

Re: $250,000 credit limit

Anonymous — Wed, 05 Aug 2009 17:11:31 GMT

I just can't help but remark that one could actually throw a house on a credit card with a $250,000 CL. But the interest rate would be way, way higher than normal with a mortgage.

Re: $250,000 credit limit

Red1Blue — Wed, 05 Aug 2009 21:08:34 GMT

@Anonymous wrote:
I just can't help but remark that one could actually throw a house on a credit card with a $250,000 CL. But the interest rate would be way, way higher than normal with a mortgage.

What if they offer 0% for 12-18 months?

Re: $250,000 credit limit

haulingthescoreup — Wed, 05 Aug 2009 22:43:38 GMT

concorduser wrote:

@Anonymous wrote:
I just can't help but remark that one could actually throw a house on a credit card with a $250,000 CL. But the interest rate would be way, way higher than normal with a mortgage.
What if they offer 0% for 12-18 months?

Oh, well, that would be completely different!

I could pay $13,888.89/ month for 18 months and own my quarter-mil home free and clear!

OK, now to go work out the cash-flow issues...

Re: $250,000 credit limit

Anonymous — Wed, 05 Aug 2009 23:19:05 GMT

@plasticguy wrote:
That's the only reason why I applied for this card back in 2007. Little did i know that high limit was to get your attention. It got mine! I only received 30K

Re: $250,000 credit limit

Anonymous — Wed, 05 Aug 2009 23:20:08 GMT

@Anonymous wrote:
@plasticguy wrote:
That's the only reason why I applied for this card back in 2007. Little did i know that high limit was to get your attention. It got mine! I only received 30K

Remember, originally Merrill only granted you a $10,000 credit limit. In your 11-19-2008 post (http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=129541&query.id=463628#M129541), you stated:

"I got a 10k increase added to my existing 10k VIA phone also about a year ago, then I closed out My BOA Sig and moved the CL to Merrill. Now I have 30.4K"

Re: $250,000 credit limit

Anonymous — Thu, 06 Aug 2009 06:08:17 GMT

@Anonymous wrote:
@Anonymous wrote:
@plasticguy wrote:
That's the only reason why I applied for this card back in 2007. Little did i know that high limit was to get your attention. It got mine! I only received 30K

Remember, originally Merrill only granted you a $10,000 credit limit. In your 11-19-2008 post (http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=129541&query.id=463628#M129541), you stated:

"I got a 10k increase added to my existing 10k VIA phone also about a year ago, then I closed out My BOA Sig and moved the CL to Merrill. Now I have 30.4K"

We love accuracy here on the Forums!

Re: $250,000 credit limit

fused — Thu, 06 Aug 2009 06:13:38 GMT

psychic wrote:

@Anonymous wrote:
@Anonymous wrote:
@plasticguy wrote:
That's the only reason why I applied for this card back in 2007. Little did i know that high limit was to get your attention. It got mine! I only received 30K

Remember, originally Merrill only granted you a $10,000 credit limit. In your 11-19-2008 post (http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=129541&query.id=463628#M129541), you stated:

"I got a 10k increase added to my existing 10k VIA phone also about a year ago, then I closed out My BOA Sig and moved the CL to Merrill. Now I have 30.4K"

We love accuracy here on the Forums!

And transparency!!!!!!!!!! LOL!