Status quo

[Anonymous]

Greetings all,

     This is what I don't understand.  I see how people put their CC images in their profile and how much avaliable credit they have.  Is this hurting the forums for what they really are intended to do?  My impression is that these forums are to help people with their credit scores, credit reports, etc.  But what I am constantly seeing is people pushing to get their CC's to their highest limits. Why would someone want to have; let's say an AMEX card with a 100k limit?  Are they really going to spend that much money on credit?  Has these forums become a "status quo" guide?  Is this a pride thing?  I understand how credit utilization works and how the debit to credit ratio helps improve one's score; but have we become obsessed with competing with everyone else on who has the highest credit limits on their personal CC's.  Can someone please shine some light on this for me?  Thank you in advance and as always enjoy what remains of your day.

[Anonymous]

I find the sigs inspiring, because without fail, each shows the scores they started with however many years ago, and what they have now.  That is the point of this forum, IMO, not how many cards or total CL they have.  

Personally, I'm not interested in competing with other members.  Seeing those sigs lights a fire under me, and reminds me what I'm capable of accomplishing in time.

[creditguy]

Well you make some fine points and yes it would appear it's a competition sometimes, in fact for some I'm sure it is. The thing is those people have a lot of knowledge to provide usually. I think it's cool to see scores, cards and limits in the sig line because it's just like data points. However I'm pretty good at restraining myself from trying to keep up with the jones'. It's a to each their own sort of thing. This forum is indeed here for everything you thought it should be and more. There is much to be shared and learned here, just put on a pair of blinders and filter out what you find undesirable.

[Imperfectfuture]

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@Anonymous wrote:

I find the sigs inspiring, because without fail, each shows the scores they started with however many years ago, and what they have now.  That is the point of this forum, IMO, not how many cards or total CL they have.  

Personally, I'm not interested in competing with other members.  Seeing those sigs lights a fire under me, and reminds me what I'm capable of accomplishing in time.

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Concur 100%.  I started with weally bad reports in May 2013, and a secured card.  I like the various sigs.  My income is the lower end, no baller here.  And if you see my limits, I'm not topping the 100k club time anytime soon. 

In fact, this shows the diversity of the forum.  We are all in different stages in our build, and just because you do not make 50k+ a year, does not mean you will not achieve good credit.  Let us just say, I am working on getting out of the poverty mentality, and working on the can do attitude.

PS, you can turn sigs off in your settings if you prefer.

[Anonymous]

Even people with good credit have credit goals and like to show off what they've achieved on the way.

It's also a quick way to find people who have a card you want to know about - I wish there had been more posters with JCBs when I apped, and I have asked people about their CUs/cards/plocs before because I saw it in their sig.

[Anonymous]

There always should be balance in life.

So while there should be good examples and stuff to inspire/motivate.

There's also stuff that should hopefully make you pause, think and proceed with caution.

[Anonymous]

I just dont put it cuz I don't want to hurt your feelings, OP

[daihashi]

I also find them inspiring. Regarding competing... yes I am competing; I am competing with myself to achieve better and higher goals. Let's also not forget that there is a difference between a person who has a $100k credit limit and is running at 100% utilization, and a person who has $100k credit limit and is running at under 5% utilization. 

Much like guns; having and pushing for higher credit is not a bad thing... it's the way a person uses it that determines whether it's good or bad.

[takeshi74]

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@Anonymous wrote:

Why would someone want to have; let's say an AMEX card with a 100k limit?

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All sorts of reasons but it's up ot the individual to determine that.  You cannot ever assume that "I don't see the reason" means "there is no reason" regardless of topic.

Given how revolving utilization impacts scoring and risk assessment, revolving utilization is one common reason for those seeking higher limits.  That said, one can mange reported utilization by paying down balances prior to report date as well.

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@Anonymous wrote:

Are they really going to spend that much money on credit?

Limits and spend are two entirely different things.  Do not conflate the two.  Again, scoring models and risk assesment favor lower revolving utilization.  I'd never spend the $30K that is the limit on my PPCR that I use for gas.  However, with my spend it always reports with no more than 1% utilization.  One can get into trouble with high revolving utilization well before maxing cards.  For years I was stuck because my revolving utilization exceeded 60%.

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@Anonymous wrote:

Has these forums become a "status quo" guide?  Is this a pride thing?

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There are those who seek higher limits for status, bragging rights, etc.  Everyone is not exactly the same.  As always, you have to consider each source.  For some it is just a matter of bragging rights.  However, that doesn't mean that it is for everyone.

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@Anonymous wrote:

I understand how credit utilization works and how the debit to credit ratio helps improve one's score; but have we become obsessed with competing with everyone else on who has the highest credit limits on their personal CC's.  Can someone please shine some light on this for me?

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Again, people vary.  Some are bragging.  Some like to indicate their progress.  Some include the information because others keep asking for it and they don't want to have to type it out every time.  Do whatever it is that works for you.  Stop worrying over why people have signatures.  Or don't.  I don't have one.  I don't see the need to disclose the cards that I have, limits, scores, etc with every post and if any of that info is relevant to a post I want to make I'll include that infromation.

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@Anonymous wrote:

Is this hurting the forums for what they really are intended to do?

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Good question.  How would you measure this?  Have things declined since people started using signatures which was probably LONG ago?  People were using them before I joined.  I haven't noticed any sort of decline based on the threads that I hit on a near daily basis.  What have you seen over time or are you just assuming that this must be a problem based on the intent you're assuming motivates other to use signatures?  I'm not entirely sure that the 20 days since you signed up would really offer a meaningul timespan but maybe you have stats to support your argument.

Regardless of what anyone posts, IMO it's up to the reader to consider the source, validate, corrborate, etc just as the person would do with any information.  Even if everyone was merely pusing others to increase credit limits for bragging rights it's still the individual's decision on how to act on that information.  Simply follow the crowd or carefully consider the info and use it as it is relevant to the individual?  I suggest the latter.

[Anonymous]

I agree and I disagree.  I am not passing judgement on no one.  It is simply an observation.  Although, It is irrevelvant if I just signed on to these forums 20 days ago.  I am member of many other forums that discuss credit and the repair thereof.  If people push their limits for bragging rights so be it.  I could give a rats....If people use these increases so that others can learn how to do it themselves; than it's great too. I honestly think I have touched on some people's toes as they are guilty of doing this themselves. But really does it matter in the long run?  I learned a long time that if you are not sleeping with them and they don't sign your paycheck then whatever they say, does it really matter?  No.  And I really don't believe that whether you have been a member for 1 day or 20 years that one's opinion's and observations have less than an impact as others or are less relevant. Last time I checked it is still a free country.  I appreciate all that have shared their opinions.  I have taken all comments and utilized them for future reference.  Thank you and as always enjoy what remains of your day.