Credit Limits above $50K ... anyone?

[Peteyglad]

I have 3 over 50k and one that hopefully will be in a few days. They got this high from a couple different reasons.

Chase - no cli's at all. This is the result of combination of 5 cards into 1.

Amex - mostly user requested cli's with a small limit transfer from another card

Boa - equal combinations of user requested cli's and combinations

Discover - all user initiated cli's

[flyingmd]

BA Premium Rewards at 87,500
ML Accolades AMEx at 155K (once they stopped offering the card I have been unable to get additional increases
Chase Saphire Reserve at 62000
Chase Presidential Plus MC at 123K
Everything else is below 50, but I dont use alot of those other cards.

Scores are Mid 700’s. Always have tons of inquiries because of business and real estate loans. No baddies though.

I had an MBNA MC that was at 250K when they got bought up. Bank left my line intact but my ex-wife destroyed it in my divorce a few years ago. Lol

[flyingmd]

Meant to say........ the higher lines are more about income and relationship than scores. Alao I suspect that people with those kinds of lines are less likely to be found frequenting this forum. I didnt discover this forum till I had some issues post divorce and found it so helpful that i continue to learn from it.

[Aim_High]

@iced

 “ … Large limits do not elevate one's status. I've never gotten comped a meal or complimented because of my limits. Until there's a card out there that gives you additional benefits for having a limit over a certain amount … that's not going to change.”

@Obscure-Expert

 “…Comps and Status aren't related to the plastic you carry ….

 For true C/S it's all in how you handle yourself when interacting with others. 

What's in your wallet doesn't matter to 99.999% of the people you will interact with on a daily basis.”

Obviously, I chose my wording poorly since two members took offense at it.  That sentiment was never my intent.  My apologies.  I just removed the whole sentence.  I’m a humble man and never meant the word ‘status’ as a military rank, bragging point, or something to show off about. 

That being said, one definition of status is simply “position or rank in relation to others”.  There is no ego involved in that definition.  Are we not all on this forum in the interest of ‘elevating our status, or position in relation to others, in terms of our credit score?   

So my intent was simply that having higher credit limits indirectly has a positive effect on my credit score by keeping my utilization rate low.  It also helps my ‘status’ with current and potential lenders who check my file and see the confidence that is placed in my ability to repay money loaned to me.  In the eyes of those lenders as they evaluate my application, my status or reputation is increased, in my opinion.   

I have actually seen that in practice in the past few years.  Higher limits on one account appear to lead to higher limits on others, and the process of raising my credit limits has become much easier as I leverage one credit card against the others to increase my limits. 

I don’t go around bragging about my credit score or credit limits with anyone, and that is a private matter.  It has not always been something to brag about, for that matter, and I feel blessed for what I have been given.  I probably would not discuss it here with all of you if it were not for the anonymity provided by this forum and that by discussing it, it gives me an opportunity to learn more myself and to help others who are not as far along on the journey.    

[JamP]

Go big or Go Home, why not shoot for the moon..

Anyways its all a personal preference.

I wanted to break into the 100k club so I did, I know many that are much higher then that.

I tend to like most of my credit cards if I didn't I would close them.

If they take them away tomorrow I will move on to the next one.

We've all had really great cards taken away. I won't even go down that road......

I guess I was thinking the OP was sort of asking everyone about specific cards that are able to hit 50K or more.

[Aim_High]

@JamP

" ... I guess I was thinking the OP was sort of asking everyone about specific cards that are able to hit 50K or more."

Actually, I knew there were 50K+ cards. 

I did wonder about specific banks and cards that had limits that high.

I also just wondered in general how common they were and how people were able to get them to that level.  It appears to me that the answer for MOST people of average means is that they kept working the bank by asking for more or by combining limits when the bank allowed that.  (Some don't.)   Of course, this often works only until a certain point for your average person who doesn't have the credit history, salary, and spending history and ability to support very high limits.  (I'm guessing this happens somewhere around 50K to 100K for a single card, depending on the lender, the credit file, and the income behind it???)

Of course, the other way is by actually using a card for big money on a regular basis, which most people aren't able to do unless:

(1) they have a business and they are using their personal account for business expenses 

(2) they have business expenses reimbursed by their company and they are able to run up big bills knowing they will be reimbursed regularly or

(3) they are wealthy in terms of having large investments with a large bank who wants to retain them for a client so awards them a prestigious card and limit

(3) they are truly wealthy in terms of monthly cash flow and able to charge and pay off large amounts

I'm guessing that the people with limits over 100K most often fit into one of the above categories. 

Comments on the above??

[Aim_High]

" ... I guess I was thinking the OP was sort of asking everyone about specific cards that are able to hit 50K or more."

Actually, I knew there were 50K+ cards. 

I did wonder about specific banks and cards that had limits that high.

I also just wondered in general how common they were and how people were able to get them to that level.  It appears to me that the answer for MOST people of average means is that they kept working the bank by asking for more or by combining limits when the bank allowed that.  (Some don't.)   Of course, this often works only until a certain point for your average person who doesn't have the credit history, salary, and spending history and ability to support very high limits.  (I'm guessing this happens somewhere around 50K to 100K for a single card, depending on the lender, the credit file, and the income behind it???)

Of course, the other way is by actually using a card for big money on a regular basis, which most people aren't able to do unless:

(1) they have a business and they are using their personal account for business expenses 

(2) they have business expenses reimbursed by their company and they are able to run up big bills knowing they will be reimbursed regularly or

(3) they are wealthy in terms of having large investments with a large bank who wants to retain them for a client so awards them a prestigious card and limit

(3) they are truly wealthy in terms of monthly cash flow and able to charge and pay off large amounts

I'm guessing that the people with limits over 100K most often fit into one of the above categories. 

Comments on the above??

[Roarmeister]

Nope, my highest is only $41k.  Every once in a while they call me up and ask me if they can give me additional credit.  I might eventually get to $50k.

[tacpoly]

My first real credit card, obtained when I was 18, had a starting limit >50k (my brother was given a starting limit >60k). Most of the cards I’ve gotten had starting limits >50k. The ones whose SL <50k eventually grew because the bank bumps up the line when my charges approached the limit.

I don’t spend nearly as much as often — less materialistic with age and maturity, and as parents stopped financing frivolous spending after uni (you’re generally more careful spending you’re own hard-earned money — LOL). But I have a better credit profile to compensate: scores at or near 850, income in 6 figures.