Having high CL's helps me to maintain low utilization overall. I have student loans, a HELOC, a personal loan, and credit cards. If an emergency ever arose and I needed to carry a large balance, my overall util would still be low.
I have a lot of cards. That's because I love to have options when it comes to using them.
I have high limits. One card has about 30k CL on it. And sits at a zero balance. I have another card with 23k CL; no balance. And numerous other ones.
I have found that having a higher CL for me allows me to have higher CL on my new cards too. I just got a personal credit line for 15k at a credit union and it was easy to get.
We don't carry balances on our card and pay them off. We don't carry debt.
It's nice to have options when you need it. When I had to purchase some brakes and rotors for my Audi, I was able to put it on one of AmEx card with zero interest for the first 15 months without dipping into my savings, investments or checking.
Things like that makes life a little easier for me. Having options is important to me.
Do you have any store cards, or just majors, like Amex, Visa, Mastercard, etc. ?
Friendly reminder to all that we must keep things FSR... it's not optional here.
I've edited/removed some posts that didn't meet our standards; we need to get this thread back on-topic.