@Anonymous-own-fico wrote:
@jettech wrote:
When you have a 3k limit and you suddenly require 2500 in car repair or your furnace quits, utlization becomes a big deal. I see this as important to some and not so for others. Everyones situation is different but I gaurantee I will need that new furnace at the same time that I'll need to app for a car, mortgage or whatever.
If I can have a 10k limit but never need more than 2 or 3k then thats a good thing. I'd rather have the cushion myself.
Not that I don't appreciate a comfortable line of credit as much as the next guy because I do , but an available credit cushion is no substitute for money in the bank. The latter is your money, the former is not. A house or a car requires maintenance every so often; it’s expected, and ignoring it doesn’t make it unexpected.
While available credit may be viewed as a financial cushion, exercising the option results in debt that needs to be paid back, monthly payments on top of your otherwise tight budget. Money in your bank account on the other hand, diligently saved over time from living within your means, carries no such extra pressure. Not to mention unexpected stuff that is really expected because a house or a car requires maintenance every so often, insurance too of course for this and that. Credit is so tempting, as paying in full by the due date rather than by the statement date gives you a grace period the first month, but after that your payments are back to being a month apart.
Better than a payday loan.
I make the conscious choice to pay for everything possible with the most rewarding CC that item/service qualifies for. It's not that i'm floating till the next paycheck. It's that I like the rewards that come with the card and the consumer protections as well. I could just as easily go back to cash+check and live in the dark ages 
