Should I be ashamed of my Credit Limit?

[Anonymous]

My limits range from $300 to $12,000. I was approved for a $5,000 card a month or two after the $300 card.

The $300 limit, reflects poorly on their algorithm, not on me.  

[red259]

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@Anonymous wrote:

I have 2 Credit Cards. One has $8000 limit, the other has $2000 limit. The 2k limit really really bothers me I have tried to get it raised buy they won't without a HP so I said no. I feel ashamed and am losing sleep at night over this. 

(The 2k limit is the Uber Visa). 

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Some people start off with a $500 limit. Heck some people start off with a secured credit card. No reason for any of these people to be ashamed. Just have to build up your credit history. My first credit card was like a 3k limit and I have had individual cards with 32k limits since then. Just takes time and good credit management. 

[CreditInspired]

Hi OP and Welcome to my FICO

I suggest you start reading the posts on this forum IMMEDIATELY and soak in all the info about CC holders with $200-500 CLs. There are so many members who can't, for the life of them, budge an inch toward getting out of toy limit hell.

You're doing great and have absolutely nothing to be ashamed of.

[CreditInspired]

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@SFLSpotter9210 wrote:
Are you serious brother? When I started my rebuild I had 1 card with 100.00 CL. Then I got approved for the Capital one rebuilder with 300.00. Try paying for anything with those CL lol. Your good man trust me. Share some data points if you feel up to it. Growth will come in time. Welcome to myfico forums. Enjoy the wealth of knowledge on here. If it wasn’t for this forum I wouldn’t be where I’m at today. Rebuilding for roughly about a year or so. Enjoy the forum.

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^^^ this

[CreditInspired]

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@FinStar wrote:
Another way to look at at it, these are [revolving] loans on plastic. There should be no shame in comparing why one is lower than the other.

Are you exceeding or using the Uber CC substantially?

For context, my lowest CL is with Kohl's $3K (perfect for its needs) and my highest CL is >$150K on a single card. So, needless to say, I don't lose sleep over it.

So, set shame aside and use your cards proudly for what they were intended.

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Off topic for 5 words only. I'm setting a new goal ! 😁

[CreditInspired]

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@FinStar wrote:

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@Anonymous wrote:

I'm a big restaurant/bar & Uber spender. I spend at least $750-$1000/month on it, which I worry is bad for my score due to the high utilization. 

I do pay it off in full every month. Had it for about 6 months now. 

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Depending on the depth of your profile, other tradelines, income, scores, etc., you can eventually entertain a CL increase, but the request will be a Hard Pull.  Or, you can just patiently continue using the card with the potential possibility of obtaining an automatic increase.  So, it really depends on your goal.  Personally, I'd let things simmer for that potential opportunity. 

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+1

[Anonymous]

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@Anonymous wrote:

... I feel ashamed and am losing sleep at night over this ... 

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Awesome. 

[Shooting-For-800]

Uber is known for low limits.

You should not be ashamed of any card as long as you are happy enough with it to keep it open.

I have 3 cards that have $3k or less limits that are still open.

They cost me nothing and helped me when I needed them.

I also have 17 cards with limits of $10k or more.

Nothing to be ashamed of.

Hang in there!

[Kforce]

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@Anonymous wrote:

 I feel ashamed and am losing sleep at night over this. 

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You should not feel ashamed or lose any sleep over your limit.

The ones that have xlarge CL's that don't put high spend on cards should be losing sleep.

[Anonymous]

If it makes you feel better OP, I opened a Home Depot card 13 years ago with a $500 limit. Today, that limit stands at a stupendous...$500. Not a single dollar increase in 13 years. But since then (and thanks to this forum) I’ve opened the cards in my sig, with several multi-thousand dollar limits including a $12,000 Lowe’s card.

It’s all about time and account management with some hard pulls mixed it. Sometimes they’re worth it