High Limits...now what

[Anonymous]

For those of you that have high limits..or those that hope to get high limits....what is next after that?? When I started re-building my credit, I thought a high limit was 10k or so. Once I got a card with 10k, I thought a nice high limit would be 20k or 25k..well, I have a couple cards with that now. Finally I got a card with 30k, which is great for me...so my question is..what now? At what point is a high high limit pointless? Or is it pointless? At this point because I have really married into the building credit and utilzing credit  card methods..I will likely continue trying to get higher limits..but I am not sure why now. I have some great cards and great limits...what's the next step?

[Anonymous]

Now that I have high limits and most of the cards I wanted/needed. I just use them responsibly for years to come. Enjoy them!

[creditguy]

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@Anonymous wrote:

For those of you that have high limits..or those that hope to get high limits....what is next after that?? When I started re-building my credit, I thought a high limit was 10k or so. Once I got a card with 10k, I thought a nice high limit would be 20k or 25k..well, I have a couple cards with that now. Finally I got a card with 30k, which is great for me...so my question is..what now? At what point is a high high limit pointless? Or is it pointless? At this point because I have really married into the building credit and utilzing credit  card methods..I will likely continue trying to get higher limits..but I am not sure why now. I have some great cards and great limits...what's the next step?

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Now what? Well first off congrats on achieving such high limits. Secondly, what happens next is up to you. If you feel $30K is great for you then use it responsibly and enjoy the fruits of your labors. Focus on using your limits in a way that will benefit you most and reaping rewards. High limits are not pointless unless they become so large that you have a tremendous amount of credit compared to income and it interferes with your ability to gain new credit that you may want further down the road, in that case you would simply divest something to add something, but cross that bridge when you come to it. Just use your cards and shoot for more CLI's as they come but don't obsess over them. In the meantime focus on lowering rates and looking for cards that will benefit you in the future all the while building up your profile and getting those scores to atmospheric levels. Mainly I'd just sit back relax and enjoy life, congrats on your success and good luck on future success. 

[redpat]

If you are done you are done with building your credit.

There has to be something else in your life that you need work on, find it and work on it.

IMO, of course.

[Anonymous]

Congrats on your limit. 

For me. I don't apply for cards that I won't use. I only apply for cards that will help me get rewards,etc 

too many cards are difficult to manage. 

My goal is to get all my cards' CL to $15k and above so my average CL across all my cards are high. 

Have fun!

[Anonymous]

Yeah i agree with creditguy.

We want bigger CL, because it will be easy to not affect our credit score by balance. But in same time more important is interest rate, if you have CL 30k and APR > 25% it is not financialy smart to use that money.

[longtimelurker]

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@creditguy wrote:

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Now what? Well first off congrats on achieving such high limits. Secondly, what happens next is up to you. If you feel $30K is great for you then use it responsibly and enjoy the fruits of your labors. Focus on using your limits in a way that will benefit you most and reaping rewards. High limits are not pointless unless they become so large that you have a tremendous amount of credit compared to income and it interferes with your ability to gain new credit that you may want further down the road, in that case you would simply divest something to add something, but cross that bridge when you come to it. Just use your cards and shoot for more CLI's as they come but don't obsess over them. In the meantime focus on lowering rates and looking for cards that will benefit you in the future all the while building up your profile and getting those scores to atmospheric levels. Mainly I'd just sit back relax and enjoy life, congrats on your success and good luck on future success. 

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Well,  at a certain level I think they ARE pointless even if they are not preventing you getting new credit.    If you have enough to cover most emergencies (understanding when you really need it lenders may CLD  anyway) and your util is very low, making it even lower doesn't gain a whole lot (even assuming you are still apping).

So in the happy case, I wouldn't bother asking for CLIs 

[driftless]

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@Anonymous wrote:
Now that I have high limits and most of the cards I wanted/needed. I just use them responsibly for years to come. Enjoy them!

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+1 Everyone has different spending needs. For me, my goal was to get two cards, one travel and one general spend w/o foreign transaction fees, above $20k. Those two cards give me the freedom to do anything I am likely to want to do. Having higher limits means that I can limit the number of cards, which keeps life simple. YMMV.