@Anonymous wrote:
50 CL on a CC.. shees.. just when you thought you saw everything.
IMO lower APR is more important to me than super high CL's ..(many of us carry SOME balance)
so the ones with a high CL don't need it usually..
I prefer the security of having available limits if something were to come up. I also concentrate on lower APR's as well. I haven't pushed that line with AMEX or Discover yet because of the 0% period still existing on both of them through November. Once that's up I'll be hitting them on chat to lower that as well. I don't see them saying no to that either with the 80 point score increase since aquiring them. I have a couple in my arsenal though that are below 7% with 17K limits on them as well. While I won't even come close to using the full 50K or 30K or 17K for that matter it does allow me to use them up to 10% of the limit with freedom to do so without worrying about a 2K charge for say annual auto insurance premiums and having it report with a negative effect on my scores at the same time. I grew my collection of 10 cards conciously with the mindset of not going overboard with a ton of accounts that I don't/won't use. 2 of them happen to be store cards Sam's MC and Macy's Amex but the rest of them are CU or bank cards. None of them overlap with the same lender for diversification purposes to hedge against any AA that may occur resulting in multiple cards being shutdown as well.
When starting out / recovering with CC's if you have a plan before you pull the trigger on every app that sounds appealing or is the buzz of the moment on here you can have a well rounded goruping of plastic to use, lower mortgage rates, and higher scores over 800. Planning and learning about different aspects of credit management can be to your advantage rather than picking up the card of the week for its perks / discounts / prestige. It has paid off considerably in the last couple of years working on CLI's rather than accumulating more accounts to boost overall spending power. Also, with the low APR CU cards they also have the convenience of BT's without a BT fee and lower APR anyday and sometimes even offer something along the lines of 2.99% for 12-24 months depending on the card.
