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I see some siggys with hundreds of thousands of limits. some have multiple cards with jumbo limits 25k-50k. just out of curiousity to hold onto all those jumbo limit cards do you have to jumbo spend on all of them each month?
I run mine up to about 90% of the CL once every two years but pay it off before the statement cuts off. Capital One etc is known for reducing lines if not used. By doing this I never had a CLD from any bank. My lines are up there but I pay my real estate taxes with them and rotate them for my rental houses so it keeps all the banks happy.
Thanks
Mark
@Anonymous wrote:I run mine up to about 90% of the CL once every two years but pay it off before the statement cuts off. Capital One etc is known for reducing lines if not used. By doing this I never had a CLD from any bank. My lines are up there but I pay my real estate taxes with them and rotate them for my rental houses so it keeps all the banks happy.
Now you've got me wondering about paying property taxes with a credit card, but I thought there were fees for doing so.
Regarding the question posed by the OP, I've had AmEx, Chase, Citi, and Barclays cards with decent limits( $25-30k) and don't typically run them up near the CL (although it has happened on occassion) and I've never had a lender lower the limits on me. However, I've recently requested my limits be lowered on some as I felt I had more credit than necessary. There was no advantage to doing so, except a psychological one from my perspective.
@disdreamin wrote:
@Anonymous wrote:I run mine up to about 90% of the CL once every two years but pay it off before the statement cuts off. Capital One etc is known for reducing lines if not used. By doing this I never had a CLD from any bank. My lines are up there but I pay my real estate taxes with them and rotate them for my rental houses so it keeps all the banks happy.
Now you've got me wondering about paying property taxes with a credit card, but I thought there were fees for doing so.
It probably depends on where you live. I'm in California, and I generally pay mine using my checking account and routing numbers--because there's no fee that way. But there is if you use a CC. (Or debit card, I believe.)
@Anonymous wrote:I run mine up to about 90% of the CL once every two years but pay it off before the statement cuts off. Capital One etc is known for reducing lines if not used. By doing this I never had a CLD from any bank. My lines are up there but I pay my real estate taxes with them and rotate them for my rental houses so it keeps all the banks happy.
I see a lot of posts around here where someone ran up a big balance, paid it off, then immediately got hit with a CLD. Do you have a secret you'd like to share?!
I'm probably gonna get chastised for revealing this but i use my monthly rent as spend. there is a fee to pay via cc but cb offsets that fee but its still a minus,
On the bright side there is 1k instant spend that i can immediately pay back in full with no sweat because i have to pay my rent anyway.
@SoCalGardener wrote:
@Anonymous wrote:I run mine up to about 90% of the CL once every two years but pay it off before the statement cuts off. Capital One etc is known for reducing lines if not used. By doing this I never had a CLD from any bank. My lines are up there but I pay my real estate taxes with them and rotate them for my rental houses so it keeps all the banks happy.
I see a lot of posts around here where someone ran up a big balance, paid it off, then immediately got hit with a CLD. Do you have a secret you'd like to share?!
It may depend on income too. I have one card with a $300,000 CL two at $75,000 and eight at around $50,000 each. If banks want to do a CLD on me it has never happened YET. The only AA I have had was when one bank closed 7 of my accounts when they did mass closings last year. I will not mention names lol
@SUPERSQUID wrote:I see some siggys with hundreds of thousands of limits. some have multiple cards with jumbo limits 25k-50k. just out of curiousity to hold onto all those jumbo limit cards do you have to jumbo spend on all of them each month?
Great question @SUPERSQUID, I have had the same question before. I don't think I have the guts to run the cards up to 90% of the CL. I have run a couple of my cards up to about 60% of the limits on both my AmEx and SWPC. SWPC typically gets there each month and previous month's balance gets PIF. I will typically have 30-35% util report on that card. I'm going to change that next month. I'll only allow a very small balance to report on it, as I'm changing my approach with my cards (more love to be spread around between the cards).
@SUPERSQUID wrote:I'm probably gonna get chastised for revealing this but i use my monthly rent as spend. there is a fee to pay via cc but cb offsets that fee but its still a minus,
On the bright side there is 1k instant spend that i can immediately pay back in full with no sweat because i have to pay my rent anyway.
I was thinking of paying this months rent on my Evergreen to hit the $1000 spend quickly. The fee is $10 I believe but for the $200 sub, I'd pay the fee 😁
@SUPERSQUID wrote:I'm probably gonna get chastised for revealing this but i use my monthly rent as spend. there is a fee to pay via cc but cb offsets that fee but its still a minus,
On the bright side there is 1k instant spend that i can immediately pay back in full with no sweat because i have to pay my rent anyway.
Hey, if it makes sense for you, why not?! A million years ago, when I was still renting, paying by CC wasn't even an option, as the owner of the house was an individual--and back then, individuals couldn't accept CCs!