I am so glad I found this forum right after I got my first card back in September 2014, I have learned so much and the wisdom of this forum steered me away from bad choices. My first card was a Discover with a 500 limit, after reading up a bit on this forum, I decided to stay away from store cards, I decided to stay with the major banks like Amex, Citi, Chase, Discover and BofA. I am so glad I did, now my Discover is at $11,400 and I am very happy with that limit, I will probably increase it just one more time to a sweet spot of $15,000. I now have limits that range from $3,000 (BCP) to $38,000 (BofA) for a total of around 90K, I have found my goldilocks zone, I don't need to go to 500-900k+
Gardening until September 2025
@AverageJoesCredit wrote:
One gets stuck in Low Limit Hell by ignoring the correct path to High Limit Heaven
YES!
I was fortunate that I didn't have to utilize the SCT METHOD.
Im not knocking it, because it definitely helps establish revolving credit if you are having issues obtaining a cc during a rebuild. BUT more often that not, it is over used.
Re: Kudos, actually that word is pretty common on forums in my experience; likes R 4 FB or something.
I'm an outlier on this forum: I hate SCT, I think it has encouraged poor credit behavior by a slew of people who would be far better served by a more structured build plan.
End of the day it isn't something I am going to lose sleep over but I thought this would happen when the first SCT thread got started and in this case I hate being right.
Inquiries are just not a big deal, you can afford to swing and miss on better trade lines rather than putting junk ones (in most cases) on your report.
My opinion only as a somewhat long term member watching patterns on this forum.
I'm an outlier on this forum: I hate SCT, I think it has encouraged poor credit behavior by a slew of people who would be far better served by a more structured build plan.
End of the day it isn't something I am going to lose sleep over but I thought this would happen when the first SCT thread got started and in this case I hate being right.
Inquiries are just not a big deal, you can afford to swing and miss on better trade lines rather than putting junk ones (in most cases) on your report.
My opinion only as a somewhat long term member watching patterns on this forum.