Question, do jumbo limits require jumbo spend?

[SoCalGardener]

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@Anonymous wrote:

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@SoCalGardener wrote:

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@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.

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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?!

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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 

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Oh.....does it start with S?   Sy?  Syn?  Sync?

I can't even imagine having a $300,000 CL.   And, really, I don't think I'd want one! Too tempting to go out and buy something I really don't need--and on my now-limited income, couldn't pay back!

[Anonymous]

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@SoCalGardener wrote:

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@Anonymous wrote:

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@SoCalGardener wrote:

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@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.

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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?!

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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 

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Oh.....does it start with S?   Sy?  Syn?  Sync?

I can't even imagine having a $300,000 CL.   And, really, I don't think I'd want one! Too tempting to go out and buy something I really don't need--and on my now-limited income, couldn't pay back!

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lol I can't say what bank it was I promised never to say that banks name again lol. As far as paying a fee for using a card it runs about 2 percent. The cash back usually covers most of it. The most I ever ran on the $300k card in one month was $133k and I never heard a word from Barclays darn can I say Barclays or is that taboo too? lol 

[SUPERSQUID]

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@Trini88 wrote:

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@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.

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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 😁

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I live in a manufactured home but the property its on is owned by the community, so they charge rent which consists of water, sewer, garbage and recycle pickup.

They take monthly payments through a company called zego. zego takes many forms of payments and one is cc's. after adjusted for my cb it cost me 10-12 bucks a month. the cool thing is they allow the payment to be broken up to a few cards.

So between my monthly rent, electric, gas, and insurance i have nice spend that is effortless, but you have to be willing to lose a few bucks. for me its a nice tradeoff since im in a rebuild.

my grocery, gas, and other expenses are charged and quickly paid off, no sweat

[SoCalGardener]

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@SUPERSQUID wrote:

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I live in a manufactured home but the property its on is owned by the community, so they charge rent which consists of water, sewer, garbage and recycle pickup.

They take monthly payments through a company called zego. zego takes many forms of payments and one is cc's. after adjusted for my cb it cost me 10-12 bucks a month. the cool thing is they allow the payment to be broken up to a few cards.

So between my monthly rent, electric, gas, and insurance i have nice spend that is effortless, but you have to be willing to lose a few bucks. for me its a nice tradeoff since im in a rebuild.

my grocery, gas, and other expenses are charged and quickly paid off, no sweat

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Yes, absolutely! When you're rebuilding, you may need to do things you wouldn't normally do. But knowing that it's temporary, just until your overall situation improves, is what always got me through those times. You're spending $10-ish a month, but you're getting a lot in return, so I'd say that's money well spent!

[Anonymous]

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@SoCalGardener wrote:

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@SUPERSQUID wrote:

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I live in a manufactured home but the property its on is owned by the community, so they charge rent which consists of water, sewer, garbage and recycle pickup.

They take monthly payments through a company called zego. zego takes many forms of payments and one is cc's. after adjusted for my cb it cost me 10-12 bucks a month. the cool thing is they allow the payment to be broken up to a few cards.

So between my monthly rent, electric, gas, and insurance i have nice spend that is effortless, but you have to be willing to lose a few bucks. for me its a nice tradeoff since im in a rebuild.

my grocery, gas, and other expenses are charged and quickly paid off, no sweat

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Yes, absolutely! When you're rebuilding, you may need to do things you wouldn't normally do. But knowing that it's temporary, just until your overall situation improves, is what always got me through those times. You're spending $10-ish a month, but you're getting a lot in return, so I'd say that's money well spent!

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I agree and keeps the cards from going dormant 

well I just checked my Barclays card online and they gave me a CLI my first one in 6 years so the CL is no longer $300k I almost fainted. Good old Barclays. My annual fee is on this statement along with the CLI

Thanks

Mark

[SUPERSQUID]

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@SoCalGardener wrote:

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@SUPERSQUID wrote:

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I live in a manufactured home but the property its on is owned by the community, so they charge rent which consists of water, sewer, garbage and recycle pickup.

They take monthly payments through a company called zego. zego takes many forms of payments and one is cc's. after adjusted for my cb it cost me 10-12 bucks a month. the cool thing is they allow the payment to be broken up to a few cards.

So between my monthly rent, electric, gas, and insurance i have nice spend that is effortless, but you have to be willing to lose a few bucks. for me its a nice tradeoff since im in a rebuild.

my grocery, gas, and other expenses are charged and quickly paid off, no sweat

---

Yes, absolutely! When you're rebuilding, you may need to do things you wouldn't normally do. But knowing that it's temporary, just until your overall situation improves, is what always got me through those times. You're spending $10-ish a month, but you're getting a lot in return, so I'd say that's money well spent!

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Not all my bills charge a fee so its not that bad. If i grouped all my total spend and the cb maybe for the whole pie there is no loss at all. thanks for the reenforcing words, its a change from the usual pummeling i get for saying stuff like this.

I was thinking of changing my screen name to the " myfico punching bag ", LOL

[SoCalGardener]

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@SUPERSQUID wrote:

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@SoCalGardener wrote:

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@SUPERSQUID wrote:

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I live in a manufactured home but the property its on is owned by the community, so they charge rent which consists of water, sewer, garbage and recycle pickup.

They take monthly payments through a company called zego. zego takes many forms of payments and one is cc's. after adjusted for my cb it cost me 10-12 bucks a month. the cool thing is they allow the payment to be broken up to a few cards.

So between my monthly rent, electric, gas, and insurance i have nice spend that is effortless, but you have to be willing to lose a few bucks. for me its a nice tradeoff since im in a rebuild.

my grocery, gas, and other expenses are charged and quickly paid off, no sweat

---

Yes, absolutely! When you're rebuilding, you may need to do things you wouldn't normally do. But knowing that it's temporary, just until your overall situation improves, is what always got me through those times. You're spending $10-ish a month, but you're getting a lot in return, so I'd say that's money well spent!

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Not all my bills charge a fee so its not that bad. If i grouped all my total spend and the cb maybe for the whole pie there is no loss at all. thanks for the reenforcing words, its a change from the usual pummeling i get for saying stuff like this.

I was thinking of changing my screen name to the " myfico punching bag ", LOL

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Oh no!!  Well, I'm glad I could help.

[MrDisco99]

I've got lots of cards with 5-digit limits.  Many of them sit in the sock frawer for months at a time with no more than a hundred bucks spend when they come out.  I've never gotten a CLD.

[Kforce]

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@MrDisco99 wrote:

I've got lots of cards with 5-digit limits.  Many of them sit in the sock frawer for months at a time with no more than a hundred bucks spend when they come out.  I've never gotten a CLD.

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+ 100

Had about 12 cards, two with 50k, and a few with 25k -- 30k.

Mix of CU and Banks, just enough spend to keep them alive every few months.

No CL decreases, 50k card for 20+ years and others between 10 -- 4  year span.

Went a different direction and have been closing cards.

Also lowering and capping credit limits on each card.

Soon will have only 4 cards each at $20,000.

[Remedios]

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@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?

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No, you don't need jumbo spend (whatever that means), and anyone who tells you they have monthly  "jumbo" spend  without having a businesses isn't completely honest. 

Cards with high limits do require some use, regular use even if at lower amounts seems to be okay.

However, those lines are also first ones to get cut if there is any sign or financial troubles, either personal or economy wise, so best thing to do is never to think they will be there when you need them. 

Also, just to touch on one other thing and that's in your other post about being "chastised" for including rent as spend...when did you get chasitzed or anyone else for stating that, especially since rent is an expense no different than untility bill. 

It's just such a weird thing to say unless one has seen it or experienced it.

The only spend "chastising" I can see if someone said something like "imma bout to run up all the cards, let them become charge offs because why not"