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What's your credit card limit(s)?

smc4getnot
Established Contributor

Re: What's your credit card limit(s)?

I honestly wish I knew how much my limits were at this point. I think my total is somewhere around $300k? I have so many cards in my SD though that I could definitely be off. 

Message 11 of 28
AverageJoesCredit
Community Leader
Mega Contributor

Re: What's your credit card limit(s)?

183k to be reduced....Smiley Wink
NN7! Fico math 1 HP = 20 CG LIEr Club Plankowner
Message 12 of 28
seattlecredit08
Frequent Contributor

Re: What's your credit card limit(s)?

A bit off-topic but related to the discussion of super high limits-- I have always wondered -- how many people out there use a carefully executed strategy to keep growing their total credit card limits to insane levels for some time (e.g. 3-4 years) while continuing to borrow and spend.

 

Essentially, someone grows their credit limit to let's say $1M+ over 3-4 years using BTs while still spending $200-300K along the way from the newly acquired credit limits. Thus, technically still maintaining about 30% utilization and a perfect credit (surely, with enough research one can find enough inquiry and new account insensitive credit card issuers to accomplish this).

 

How prevalent is this at that super high level (i.e. $1M+ credit limits)?

 

Thanks!!

Message 13 of 28
Medic981
Valued Contributor

Re: What's your credit card limit(s)?


@Isacking97 wrote:

My Cards with limits (Oct 2018)

 

Amex Everyday Card $15,000

Amex Magnet Cash Card $1,000

Discover Chrome $13,900

BPPR Visa Icon $600

 

Total CL: $30,500

UTIL: 5%


Limits are in my signature.

















Your FICO credit scores are not just numbers, it’s a skill.

Message 14 of 28
K-in-Boston
Moderator

Re: What's your credit card limit(s)?

@seattlecredit08 it's pretty common.  It's called pyramiding debt, a common PenFed denial reason, hence the common myFICO phrase  "PenFed said I walk like an Egyptian."

Message 15 of 28
Jcindaswamp
Valued Member

Re: What's your credit card limit(s)?

I have something like $115k total credit limit. Highest limit (not counting Amex Plat $35k POT limit) is my CSR at $23.6k, lowest limit is a Regions Prestige at $5k.
Message 16 of 28
ZainxIqbal
New Contributor

Re: What's your credit card limit(s)?

Currently:

Capital One Quicksilver: $8,500
Discover It: $39,000
Amex SimplyCash: $50,000
Amex BCE: $20,000 (Just got it 2 weeks ago. Will attempt to CLI to 50k when eligible).

So for now it’s a total of $117,500.

Hopefully Amex gives me that CLI so I get closer to my initial goal of $150,000 total. At the very least I’m expecting my CSP app in December to net me another $10,000 (fingers crossed for $20,000+).

Current Cards:


Next Cards:
Message 17 of 28
kwulfe
Regular Contributor

Re: What's your credit card limit(s)?

My CL limits across my card ranges from $500 to $5000 with the total CL to $7100, and my credit history is 1.5 years not involving AU's.  Someday it'll grow Smiley Very Happy

 

(except my Cap1 CC, which I'm expecting to be stuck at $600 forever lol)

Credit Cards



----------------------------------------------------------------------
Loans


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Future CCs
Discover It, Chase Freedom, BB Americas Platinum Plus
Message 18 of 28

Re: What's your credit card limit(s)?

I have 5 cards and it totals to $1350. I just restarted building credit. 

 

I only plan to max out/pay my Capital one. The rest I dont care to much if they grow. (store cards)

 

How long on average did it take to get the higher limits?

Message 19 of 28
marypoppins70
New Contributor

Re: What's your credit card limit(s)?

$368,350 and I'm gardening for a looooooong time!

Message 20 of 28
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