What is you credit card limit?

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Vic

Vic

Elite Member
Jun 12, 2001
50,422
14,337
136
Originally posted by: Neurorelay
I would like to point out to the naysayers of credit...if you live in a capitalistic society, your management of credit lines is quite valuable. The whole cash philosophy works best in a communistic or socialistic setting. Where goods equal the value of the dollar. In our country, prices are so inflated and you have to watch interests rates and so on, the dollar goes no where as far as a good credit rating.
Click to expand...
Goods have no calculable value in a communist/socialist system because there is no market.
 
N

Neurorelay

Platinum Member
Jul 21, 2004
2,195
0
0
Originally posted by: Vic
Originally posted by: Neurorelay
I would like to point out to the naysayers of credit...if you live in a capitalistic society, your management of credit lines is quite valuable. The whole cash philosophy works best in a communistic or socialistic setting. Where goods equal the value of the dollar. In our country, prices are so inflated and you have to watch interests rates and so on, the dollar goes no where as far as a good credit rating.
Click to expand...
Goods have no calculable value in a communist/socialist system because there is no market.
Click to expand...


Touche, it is more of a barter system I agree....my point I believe is still true.
 
S

Suspicious-Teach8788

Lifer
Feb 19, 2001
20,155
23
81
Originally posted by: RossMAN
Originally posted by: DLeRium
- $8k on each of my AMEX cards (Costco + Blue)
- $1.5k on my Citi Dividend Platinum Select (sometimes I get annoyed by the low limit, but I can use my AMEX when all else fails)
- $10.4k on my BoA Effectiva Visa

Enough to get around.
Click to expand...

I'm glad I'm not the only one. My CitiBank Dividend Platinum Select was stuck at $5,000 for a long time (a few years). However recently I have been paying off cc's one by one, so I tried the increase and they approved me for $6,500 I'm not sure why I bother since the max I ever use it $2k on that card.
Click to expand...

Keep in mind I'm only 19, and I got declined for my Citi card at first cuz of my other cards that I had on hand. It's not like I use very much. The only time I maxed out my Citi card was when I had to buy an LCD for my parents (2405FPW) and combined with the month's balances and a few other things, I was dangerously close to $1.5k. I had to cancel a card so that I could get the Citi card. Then again I've applied for too many cards in the past 6 months =P. I never saw the holiness of cashback, and I stuck with student cards at first and I finally tried changing this summer. I ought to throw away that AMEX Blue for Students card since 8k is something I'll never hit. Plus I have my other AMEX card..
 
Vic

Vic

Elite Member
Jun 12, 2001
50,422
14,337
136
Originally posted by: Neurorelay
Originally posted by: Vic
Originally posted by: Neurorelay
I would like to point out to the naysayers of credit...if you live in a capitalistic society, your management of credit lines is quite valuable. The whole cash philosophy works best in a communistic or socialistic setting. Where goods equal the value of the dollar. In our country, prices are so inflated and you have to watch interests rates and so on, the dollar goes no where as far as a good credit rating.
Click to expand...
Goods have no calculable value in a communist/socialist system because there is no market.
Click to expand...
Touche, it is more of a barter system I agree....my point I believe is still true.
Click to expand...
Which point? That proper use of credit is important in a capitalist economy? I couldn't agree more. Credit is a valuable tool.

But the "communistic or socialistic setting... where goods equal the value of the dollar" statement could not have been more wrong (which I already explained).

And then the "prices are so inflated and you have to watch interests rates and so on" is also wrong. Rate IS price.
 
N

Neurorelay

Platinum Member
Jul 21, 2004
2,195
0
0
Originally posted by: Vic
Originally posted by: Neurorelay
Originally posted by: Vic
Originally posted by: Neurorelay
I would like to point out to the naysayers of credit...if you live in a capitalistic society, your management of credit lines is quite valuable. The whole cash philosophy works best in a communistic or socialistic setting. Where goods equal the value of the dollar. In our country, prices are so inflated and you have to watch interests rates and so on, the dollar goes no where as far as a good credit rating.
Click to expand...
Goods have no calculable value in a communist/socialist system because there is no market.
Click to expand...
Touche, it is more of a barter system I agree....my point I believe is still true.
Click to expand...
Which point? That proper use of credit is important in a capitalist economy? I couldn't agree more. Credit is a valuable tool.

But the "communistic or socialistic setting... where goods equal the value of the dollar" statement could not have been more wrong (which I already explained).

And then the "prices are so inflated and you have to watch interests rates and so on" is also wrong. Rate IS price.
Click to expand...


I should have taken the time to more clearly define my point. While using credit, if you watch interest rates, you consolidate, transfer between loans, refinance, whatever your chosen tool is, to keep your credit under control all the while utilizing it to your advantage.

And the example of communism/socialism was more for the purpose of saying: look, here is what I will give you if you give me such and such. There is a much clearer picture as to what your goods/services will get you in a social setting. Whereas, in Capitalism, the picture is much more cloudy, given that what your goods worth are grossly overcalcuated based on the structure of the market.

There is no direct correlation between our market and the communism/socialism setting of other countries. I just wanted to illustrate that credit is a good thing in capitalism, whereas the carry cash philosophy is a much more antiquated view and maybe those people would be happier in a socialism setting.
 
rh71

rh71

No Lifer
Aug 28, 2001
52,844
1,049
126
$16000 on my discovercard.. had to use it all once when I booked my reception hall for my wedding... nice cashback though. :D
 
funboy6942

funboy6942

Lifer
Nov 13, 2001
15,368
418
126
Dont have any credit cards. I found out the hard way if something unexpected happens in your life and you have credit cards, a car note, rent to pay, family to feed and you got hurt to the point you cant work any more at what you used to they all seem to come after you trying to squeeze out every dime you have.

I got smart when I got my accident settlement. Paid off all my debts, cut up the credit cards. Bought and paid for 2 cars and a home leaving me with nothing more then utilities, internet, tv, and food. This way if crap hits the fan again no one can come after me and take my home, cars, and possesions ;)

I know at the time when I had everything I thought nothing could happen to me and when it did and I lost it all and had to file a BK to keep me from going to court and jail it was a hard slap in the face and I vowed if I ever got any money I wasnt going to go into debt again EVAR!

So now I am a home owner and completly debt free with tottaly messed up credit but it all paid for and mine :D
 
TallBill

TallBill

Lifer
Apr 29, 2001
46,017
62
91
$2,000
$2,000
$2,000

I'll probably wait 6 months then request up to $5,000 on each one. Keep in mind that I carry a zero balance on all.
 
E

erub

Diamond Member
Jun 21, 2000
5,481
0
0
AMEX Blue: $2000
MBNA CC #1: $2800
MBNA CC #2: $5000
CitiDividend Platinum Select: $2000
Chase Cash Rewards: $10000
Chase PerfectCard: $4000
Chase SonyCard: $2000
Total: $27.8K

Not bad for fulltime student turning 22 next week..but most importantly, no debt!
 
E

edprush

Platinum Member
Sep 18, 2000
2,541
0
0
How embarassing...my credit limit request from $15k to $30 was denied by Chase....last month they were willing to increase it from $9k to $15k.

They haven't given me a reason for not accepting my new request.
 
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