Re: Any downside to having big limits?

Anonymous · ‎08-30-2016

Good thread everyone.

Anonymous · ‎08-30-2016

All financial decisions should be made in regards to maintaining responsibility and integrity in regards to oneself and one's family. Anything beyond that begins to work against you.

For example, I'm interested in growing my total credit lines to upwards of $100-150k, so that I could utilize $10-25k in available credit while keeping optimal utilization. If you're growing credit lines past what is necessary for reasons other than responsibility financial decision-making... to the point where it hurts your relationship with current or future creditors, obviously, it's no longer of any benefit.

Tbh, who cares about having $300k or $400k in available credit? I'd much rather have $300k or $400k in annual income with my $100k credit lines and make money off the banks instead of them ever being able to make money off of me.

Anonymous · ‎08-30-2016

@Burned2manybridgesB4 wrote:
One point not approached is the fact that some of us here, like me, have a 20+ year credit file, so big limits go with the territory of experience.
Yes, I'm a middle aged fart. My very first card was a JCP in '95.

95? Whippersnapper. My first was 1978 (Barclaycard), and there are people here with earlier ones!

Burned2manybridgesB4 · ‎08-30-2016

Ok, so we've both been here for the blizzard of '79.

I did say I'm middle aged.

galahad15 · ‎08-31-2016

@Anonymous wrote:
@Burned2manybridgesB4 wrote:
One point not approached is the fact that some of us here, like me, have a 20+ year credit file, so big limits go with the territory of experience.
Yes, I'm a middle aged fart. My very first card was a JCP in '95.
95? Whippersnapper. My first was 1978 (Barclaycard), and there are people here with earlier ones!

Lol, I thought middle-aged was like 50...also don't they say these days that 60 is the new 40?