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What's your credit card limit(s)?

Isacking97
Regular Contributor

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


@Startingover31 wrote:

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?


With Amex less that 2y, with discover a little more of a year !! 

 

Starting limits, Discover $500, AMEX 1k



Starting Score:EX: 713 EQ: 698
Message 21 of 28
frogman1
Valued Contributor

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

 


@seattlecredit08 wrote:

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!!


I am guessing if you have 200k of revolving debt and you don't make a really huge salary no one is going to approve you for anything.  Probably most people who have super high limits and don't have super high income have low balances.  Break-out alarms go off before you get to your scenario. 

 

I have over 200k in limits but don't carry balances. And not really trying to increase my total credit limits as I cancel most cards at the 1 year mark.  

More cards than I can mention in a signature.
Message 22 of 28
frogman1
Valued Contributor

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


@Startingover31 wrote:

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?


If you get to 720 FICO and have decent Income high limits are the norm. 

More cards than I can mention in a signature.
Message 23 of 28
LowLimits
Established Contributor

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

My limits are in my sig, but in short, they range from $500 to $2000.

 

Lower than most at my income/score level, but I'm credit conservative and trying hard to limit spending.  I always PIF and never carry balances so I have no need for high limits.

 

 

TCL: $4,000. $500 in wallet, remainder locked away to limit spending.

FICO October 2018: EX 792 (10/11), TU 816 (10/19)
FICO November 2018: EX 792 (11/10) 779 (11/22), TU 805 (11/19)
FICO December 2018: EX 795 (12/20), TU 816 (12/19)
Message 24 of 28
sdsoccerdad
Established Contributor

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

In my sig as well.

Total Personal $110,200

Total Business: $34,000

Income $180K.

Built this over 2 years with starting scores in high 500's due to foreclosure.  Gardening now till I get under 5/24 so I can get my elusive Chase Sapphire Reserve.

Personal Cards:


Business Cards:

Started my journey in the high 500's 10/1/2016
Current Fico: EQ:740 | TU:757 | EX:775
Message 25 of 28
xaximus
Valued Contributor

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

Total CL is close to 200k
Income - low to mid 100k.


Scores - All bureaus 756 +
TCL - Est. $275K
Message 26 of 28
CreditCharmer
New Contributor

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

Navy Fed Amex 30.5k
Amex Everyday 24k
Amex Cash Magnet 8K
PenFed Power Cash 10K
Ashley’s Furniture 8K
Wayfair 2.5k

Somewhere around 83k.

Utilization 11%
Credit is a lot like a Reputation....It takes 20 years to build it and five minutes to ruin it. If you think about that, you'll do things differently.





Starting Score: 525
Current Middle Score: 715
Goal Score: 750

Take the myFICO Fitness Challenge



Message 27 of 28
ScoreSizzle
Frequent Contributor

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

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Cap1 Quicksilver || Amex BCP || Discover IT || Chase FU || BofA Travel || FNB Omaha Platinum Visa


Message 28 of 28
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