Is there a max overall credit limit?

[frogfan12]

I don't know what Buffet would use. He's rich and he still lives in the same $30K house in Omaha. 

[CS800]

He lives a very simple life I guess with his billions. He probably use cash most of the times like most men of his age do.

[Anonymous]

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@CS800 wrote:

He lives a very simple life I guess with his billions. He probably use cash most of the times like most men of his age do.

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cash is so dirty

[frogfan12]

I think he uses cash too. He seems like that kind of guy.

[Anonymous]

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@Anonymous wrote:

im sure for the 1% ther is not a cap

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That's what an Amex with NPSL is for. Of course, even NPSL cards usually have limits. For example, Amex may kindly ask you to make an immediate payment for a purchase.

[JustMe77]

Certain types of credit cards probably have limits (for example, you aren't going to see an Orchard credit card for $10,000 anytime soon, lol). I think lenders set credit limits based on FICO and I would like to think income plays a part of it too, but who knows.

The highest credit limits I've seen on credit cards are $50,000. I know a few people with cards with that limit. Must be nice  

[Anonymous]

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@Anonymous wrote:

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@CS800 wrote:

All about the money you got and your credit. I wonder what Warren Buffet has as CC

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dont he have his own bank?

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Probably, but his tax % is still lower than mine

[learnin113]

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@frogfan12 wrote:

I don't know what Buffet would use. He's rich and he still lives in the same $30K house in Omaha. 

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That is so amazing to me...

[Anonymous]

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@learnin113 wrote:

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@frogfan12 wrote:

I don't know what Buffet would use. He's rich and he still lives in the same $30K house in Omaha. 

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That is so amazing to me...

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Buffet would clearly have his choice, even among companies that Berkshire Hathaway has significant ownership of:

• American Express (13.1%)
• Wells Fargo (19%)
• M&T Bank (15.9%)
• Bank of America ($5 billion of preferred stock + common stock holdings)
• SunTrust
• U.S. Bancorp

My guess is that Buffet has been a long time Amex charge card holder -- especially since he says he dislikes credit cards from both a business and consumer perspective.

[Anonymous]

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AndyK wrote:  Probably, but his tax % is still lower than mine

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 But doesn't he owe like $1,000,000,000 in back taxes????