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@Anonymous wrote:
@Gonzozap wrote:
@DebtJoe wrote:
Not sure why anyone needs a $10K+ limit for a Walmart card.
Usually the people complaining are using high limits to pad utilization. If that's gonna make or break your profile then there are bigger issues than just Cap 1 taking over your account.Right, but don't most folks want higher limits to pad util on all their accounts? If not, I know all I would need would be $1k or $2k limits and my scores would be tanked.
$10k at Walmart might be a lot, but once someone buys a high ticket item, $10k might not be a lot at all. This scenario would fit at many banks/stores.
But I wonder if lenders expect the same. After all, do lenders really anticipate that many people will actually use $25k credit limits? And if they do, I bet the bank's internal systems will watch them like hawks.
I don’t really think that most lenders expect customers to max out their limits. In fact, quite a few of them like Chase, AMEX, Barclays, and occasionally Disco will get AA happy if a customer does so.
do we know if bbt is like that concerning AA?
@Jnbmom wrote:
@DebtJoe wrote:
Not sure why anyone needs a $10K+ limit for a Walmart card.
Usually the people complaining are using high limits to pad utilization. If that's gonna make or break your profile then there are bigger issues than just Cap 1 taking over your account.I have a 10K limit on walmart and I don't use that to pad my utilization. I like my limits to be in the same "ballpark" to speak as with my other lenders.
Although some may think the theory is not so, I think your limits at times play a part in your approvals with other creditors and your SL, so I Iike mine to be close inline with of my otherswhen feasible.
Yeah it’s absolutely true that higher limits beget higher limits. Once you break that $10K barrier, the doors fly open when it comes to trust with large limits.
I don’t really think it hurts to have a few accounts with smaller limits though. My $1K DCU approval is February certainly didn’t stop my $10K Savor One last week. I think Capital One more likely saw my $12,700 Disco and NFCU cards and decided that $10K was acceptable.
@Anonymous wrote:
@Anonymous wrote:
@Gonzozap wrote:
@DebtJoe wrote:
Not sure why anyone needs a $10K+ limit for a Walmart card.
Usually the people complaining are using high limits to pad utilization. If that's gonna make or break your profile then there are bigger issues than just Cap 1 taking over your account.Right, but don't most folks want higher limits to pad util on all their accounts? If not, I know all I would need would be $1k or $2k limits and my scores would be tanked.
$10k at Walmart might be a lot, but once someone buys a high ticket item, $10k might not be a lot at all. This scenario would fit at many banks/stores.
But I wonder if lenders expect the same. After all, do lenders really anticipate that many people will actually use $25k credit limits? And if they do, I bet the bank's internal systems will watch them like hawks.
I don’t really think that most lenders expect customers to max out their limits. In fact, quite a few of them like Chase, AMEX, Barclays, and occasionally Disco will get AA happy if a customer does so.
do we know if bbt is like that concerning AA?
Unfortunately I don’t have any experience with BBT, they’re not available in my market. Banks in general tend to be more sensitive to high usage, especially when paired with not paying in full, while credit unions tend to be a lot more tolerant.
@Anonymous wrote:
@Jnbmom wrote:
@DebtJoe wrote:
Not sure why anyone needs a $10K+ limit for a Walmart card.
Usually the people complaining are using high limits to pad utilization. If that's gonna make or break your profile then there are bigger issues than just Cap 1 taking over your account.I have a 10K limit on walmart and I don't use that to pad my utilization. I like my limits to be in the same "ballpark" to speak as with my other lenders.
Although some may think the theory is not so, I think your limits at times play a part in your approvals with other creditors and your SL, so I Iike mine to be close inline with of my otherswhen feasible.
Yeah it’s absolutely true that higher limits beget higher limits. Once you break that $10K barrier, the doors fly open when it comes to trust with large limits.
I don’t really think it hurts to have a few accounts with smaller limits though. My $1K DCU approval is February certainly didn’t stop my $10K Savor One last week. I think Capital One more likely saw my $12,700 Disco and NFCU cards and decided that $10K was acceptable.
@Anonymous Oh I agree, I have a few cards "cough cough" as in AMEX that are low and appear to stay that way But overall if you have the opportunity to get the limits higher, than I think it helps your credit file.
Heads up,
I got a letter in mail saying my account will be switched over to Cap One starting July 20, 2019 and they were nice enough give me $1500 CLI as saying thanks for being value customer. Hey better than nothing.
Anyone get something like this?
@Anonymous wrote:Heads up,
I got a letter in mail saying my account will be switched over to Cap One starting July 20, 2019 and they were nice enough give me $1500 CLI as saying thanks for being value customer. Hey better than nothing.
Anyone get something like this?
Not yet.
@Anonymous wrote:Heads up,
I got a letter in mail saying my account will be switched over to Cap One starting July 20, 2019 and they were nice enough give me $1500 CLI as saying thanks for being value customer. Hey better than nothing.
Anyone get something like this?
Interesting, I haven't gotten anything so far.
May I ask what your previous limit was before the CLI? @Anonymous
No letter for me yet either. A CLI to thank me for "staying" isn't really needed in my case, I barely use the $10K limit I have.
what I'm most interestd in is something that I read somehwre else, that Cap1 will reage the account to the date they took over instead of keeping the original opening date? If true it will be yet another reason for closing, and probably before the switch ion this case.
Also, I haven't seen any coupons for the 6-12 month 0% interest lately. So I had wondered if this was due to it switching over. I had wanted to make a $1K purchase for the 0%, but looks like that's no longer a thing. Wondering if anyone else noticed the same?
If Cap1 doesn't offer these types of promos going forward, then I simply don't see a need to keep this card anymore.
While I don't really like losing a $10 CL, I have received a couple CLIs recently that will essentiually make up for that loss.