Large limit plan

[drboxing]

Often wondered about a card member’s plan once they get a large limit or increase over $5K? I’m just curious.

[Creditwiser]

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@drboxing wrote:
Often wondered about a card member’s plan once they get a large limit or increase over $5K? I’m just curious.

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Plan for spend ?  Not sure what you mean exactly.  For myself, my large limits are for UTL purposes mainly. And of course should a large purchase come up in the future, I can handle it. 

[Horseshoez]

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@drboxing wrote:
Often wondered about a card member’s plan once they get a large limit or increase over $5K? I’m just curious.

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When my first card hit $5,000 (which was the day it was issued), my "plan" was simply to use the new credit card instead of my debit card.

[Creditwiser]

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@Horseshoez wrote:

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@drboxing wrote:
Often wondered about a card member’s plan once they get a large limit or increase over $5K? I’m just curious.

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When my first card hit $5,000 (which was the day it was issued), my "plan" was simply to use the new credit card instead of my debit card.

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I've been doing that all thru my rebuild and beyond.  Use it ,pay it, repeat.  There are times when I find myself needing to carry a balance for short periods and the higher limits allow this without a major hit to my UTL. For the most part though maintaining low UTL and being diligent about paying off the balance and not extending myself beyond my monthly means has helped with my rebuild and finding myself where I'm at today. 

[SUPERSQUID]

Not much of a plan in my case, keep utility low and payments high and pay weeks ahead of due date.

Its worked well for me, 3 years post bk dc 87k of unsecured cc limits with only 39k income

[Horseshoez]

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@SUPERSQUID wrote:

Not much of a plan in my case, keep utility low and payments high and pay weeks ahead of due date.

Its worked well for me, 3 years post bk dc 87k of unsecured cc limits with only 39k income

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Wow, more than twice the unsecured CC limit compared to what I have, and my income, is, ummm, higher.  

[wasCB14]

Depends on the card. I really only care about limits on cards that get high spend. I like having 6 figure NPSL with Amex, but wouldn't mind $5k on a card I don't take past $1000.

[drboxing]

Thanks for responses. Was just curious as to how you used large limits and limit increases. I use my large limits for utilization. If I do a large purchase I try to pay it off.

[800wannabe420]

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@drboxing wrote:
Thanks for responses. Was just curious as to how you used large limits and limit increases. I use my large limits for utilization. If I do a large purchase I try to pay it off.

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I have large limits due to my significant other having a fondness for designer handbags (I'm looking at you Louis Vuitton) ☹️☹️☹️

[Rdbeetle]

Like others here have stated, I use my cards like a debit card and pay off before statement closing. I also use them as a utilization buffer in times when I need to carry a balance for a large purchase for a few months.