whats the limit on your credit card?

[Zebo]

Originally posted by: MercenaryForHire

Originally posted by: Yellow Dog

Originally posted by: DaWhim
i got 9 credit cards. I am sure they are over 10k+ combined

Dude, start chopping most of them up, that many low limit cards looks bad, and unless you have a lot of self control, these credit card companies will own you.

For maximum credit score, follow the exact opposite advice. Having lots of unused credit is good.

- M4H

... I only got 2 CC a BofA mastercard and AMEX, both since 1991, and score 833. Urban myth if you ask me. My dad did'nt even have a CC till 63 yrs old (he's old school believes in fed reserve consp etc) and somehow got a small biz loan in the seven fiqures w/o ever having a CC.

 

[DaWhim]

Originally posted by: Zebo

No offense dude my I only got 2 CC a BofA mastercard and AMEX, both since 1991, and score 833. Urban myth if you ask me. My dad did'nt even have a CC till 63 yrs old (he's old school believes in fed reserve consp etc) and somehow got a small biz loan in the seven fiqures w/o ever having a CC.

it is not urban myth. the thing attribute to your above 800 credit score is your credit card history. it doesn't matter how many cc you have as long as you have a clean history. credit score will build itself up.

 

[nageov3t]

one card, 10K limit.

highest balance I've ever had was only around 3K, though.

 

[Zebo]

Originally posted by: DaWhim

Originally posted by: Zebo

No offense dude my I only got 2 CC a BofA mastercard and AMEX, both since 1991, and score 833. Urban myth if you ask me. My dad did'nt even have a CC till 63 yrs old (he's old school believes in fed reserve consp etc) and somehow got a small biz loan in the seven fiqures w/o ever having a CC.

it is not urban myth. the thing attribute to your above 800 credit score is your credit card history. it doesn't matter how many cc you have as long as you have a clean history. credit score will build itself up.

I don't see what having multiple lines of CC has to do with it or not. Seems mortgages, sig loans, and other types would do the same thing if not better. Course I don't know how they calculate it do you? But I know you don't need a bunch of cards or any for that matter for good credit. Just pay da bills on time have a good income/loan ratio.

 

[Landroval]

I have 4. 1@ 20k 1@16k 1@14500 and I forget the Amex limit. They keep increasing it, and I plan to ask them to reduce the limits, as I suspect it looks bad on my credit to have so much CC room.

 

[BurnItDwn]

Highest is 9000.
Second is 8500.
Lowwest is 1000. (Sams Club Credit)

 

[dethman]

20k

 

[b0mbrman]

Uh...do you want total of all cards, average of all cards, or highest single card?

 

[b0mbrman]

Originally posted by: Landroval
I have 4. 1@ 20k 1@16k 1@14500 and I forget the Amex limit. They keep increasing it, and I plan to ask them to reduce the limits, as I suspect it looks bad on my credit to have so much CC room.

Hmmm...does anyone know the definitive answer to this?

 

[GhettoFob]

~10k total

 

[everman]

Originally posted by: b0mbrman

Originally posted by: Landroval
I have 4. 1@ 20k 1@16k 1@14500 and I forget the Amex limit. They keep increasing it, and I plan to ask them to reduce the limits, as I suspect it looks bad on my credit to have so much CC room.

Hmmm...does anyone know the definitive answer to this?

I'm not an expert and I'm tired, but debt-to-income ratio is just one important number aside from paying on time. It doesn't look good if you're utilizing too much of your credit (from a creditor perspective) because obviously lending to a person with more debt is potentially a greater risk (which equals higher int rate). Anyway there are quite a few things to keep track of. I wouldn't go cancelling old accounts though, longer history is good.

 

[b0mbrman]

Originally posted by: everman
I'm not an expert and I'm tired, but debt-to-income ratio is just one important number aside from paying on time. It doesn't look good if you're utilizing too much of your credit

I've heard of this also...but does this mean Landroval is in a good position or a bad one? On the one hand, he's got a lot of available credit; but on the other, he's got high limits so he's not using very much of his available credit.

 

[helo7050]

I have the Amex Platinum card which is no-spending limit. I got upto 24k in one month on it. . If i can spend an average 13k/month for the rest of the year I will be eligible for the Black Card.

 

[everman]

I'm not positive so check out these links:
Text
Text
A ton of great info there

 

[Chaotic42]

I don't have one.

 

[Eli]

Highest is a whopping 500$, but I have 1100$ total.

lol

 

[DaWhim]

Originally posted by: Zebo

Originally posted by: DaWhim

Originally posted by: Zebo

No offense dude my I only got 2 CC a BofA mastercard and AMEX, both since 1991, and score 833. Urban myth if you ask me. My dad did'nt even have a CC till 63 yrs old (he's old school believes in fed reserve consp etc) and somehow got a small biz loan in the seven fiqures w/o ever having a CC.

it is not urban myth. the thing attribute to your above 800 credit score is your credit card history. it doesn't matter how many cc you have as long as you have a clean history. credit score will build itself up.

I don't see what having multiple lines of CC has to do with it or not. Seems mortgages, sig loans, and other types would do the same thing if not better. Course I don't know how they calculate it do you? But I know you don't need a bunch of cards or any for that matter for good credit. Just pay da bills on time have a good income/loan ratio.

anything that shows your credit worthiness will increase your credit score. I didn't get a bunch of cards for good credit, I guess you missed this. for me, I would like to have 500k-1million unsecured credits. my goal is at least 20 cc's, I am working on it.

 

[jpeyton]

I have some high and low limit cards. Highest has 5k, lowest has 1k. Combined, about 20k total.

No missed payments; I pay all of them off in full each month except one, which has zero interest at the moment.

 

[Nohr]

5k

 

[Landroval]

Originally posted by: b0mbrman

Originally posted by: everman
I'm not an expert and I'm tired, but debt-to-income ratio is just one important number aside from paying on time. It doesn't look good if you're utilizing too much of your credit

I've heard of this also...but does this mean Landroval is in a good position or a bad one? On the one hand, he's got a lot of available credit; but on the other, he's got high limits so he's not using very much of his available credit.

Well I have heard it can be of concern to lenders, because how are they to know I won't go wild and max out all that credit? Personally I don't see a need to have limits that high, and I have had excellent credit ratings for years, long before these huge increases started to pervade the industry.

 

[imported_Mike]

1500 on my bb card...I should cancel that.
1300 on my wf card
I dunno my Amex limit

 

[jadinolf]

One card-- 24K limit.

 

[mwmorph]

15k on a amex.

 

[Jeff7181]

I have one that's 8k, another that's 10k, and a couple smaller ones... so I have about 20k available credit.

 

[alien42]

i am happy and proud to say that i have no credit cards, have had none in years, and do not plan on having one any time soon. if you cant afford to buy something then you shouldnt be buying it.