The tag has no wiki summary.

learn more… | top users | synonyms

0
votes
1answer
82 views

Approved for a Credit Line of $700 BoA

I'm 18, and I recently applied for a Credit Card at Bank of America. I applied for the BankAmericacard Cash Rewards Platinum Plus Visa, I got approved for a credit line of $700, I was wondering how ...
12
votes
3answers
3k views

Am I using my credit card wrong?

For the last five years I've had a baby Visa card ($500 limit) that I've paid off religiously; I haven't paid a cent of interest and I plan to keep it that way. To build credit (and to get a cash ...
4
votes
2answers
241 views

Can I estimate other people's credit limit at the grocery store?

I regularly shop at Ralph's grocery store and pay with CC. I noticed that they don't ask you to sign a receipt if your purchase is less than some amount. Now after some time I noticed that this ...
14
votes
2answers
924 views

Does high credit utilization, coupled with paying off my balance in full each month, increase my chances of an automatic credit limit increase?

The conventional wisdom I've heard is that spending close to your limit and paying the balance off in full each month will often lead to the credit card company increasing your credit limit ...
12
votes
2answers
558 views

Is there any reason to not request a CC limit increase?

I have had the same card for quite some years now, approaching 10. I have requested a few limit increases for the sake of convenience because buying a computer or international airfare tends to be the ...
2
votes
4answers
646 views

How long to wait after getting a mortgage to increase my credit limit?

I just got a new job and a mortgage last month. I am now being paid significantly more than I was previously. I have two credit cards that I have always paid off on time, and my score is around 750. ...
2
votes
2answers
145 views

How frequently should I request additional credit?

Assuming I simply want additional credit to improve my credit utilization ratio, how frequently (how long between requests) should I request the credit increases? What negative consequences should I ...
1
vote
1answer
116 views

To what extent should I seek additional credit? How much is enough?

I currently have 2 credit cards, each with a $2500 limit. I rarely exceed 20% utilization over the course of the month, and I don't expect any increase in expenses over the course of the next year ...
4
votes
2answers
510 views

Are there any advantages to a credit limit increase as opposed to a new card?

A credit card I currently use offered me a credit limit increase. The current limit is $2500; I rarely spend over $500 on that card. Let's say you have a legitimate reason for wanting more credit. ...
7
votes
3answers
8k views

Will it hurt my credit to accept a credit limit increase?

I got an email from Citi offering me a credit limit increase on my 4 year old card: Subject: Good News About Your Citi Card - Please Open Immediately It's our job to make sure your Citi card is the ...
8
votes
3answers
1k views

What does high credit utilization really mean?

I've heard and read that high utilization of credit hurts, but what does that mean exactly? Does that mean high utilization month-to-month, or simply high utilization at all, even when paid off in ...
2
votes
2answers
608 views

What is considered a low credit limit?

I was using a tool that suggest how I can increase my credit score. One thing was that it said my credit limit is "low." But it didn't say what "low" is. What is considered a low credit limit?
0
votes
1answer
355 views

What percentage of your credit card limit should you use [duplicate]

Possible Duplicate: What is the optimal ratio of used credit to credit limit for your credit score? Does length of credit history or percent of credit used count for more? I just read ...
12
votes
5answers
5k views

How often can/should I apply for a credit limit increase?

I just got my first personal credit card 8 months ago, and I'm occasionally hitting/getting close to the credit limit. I've never missed a payment or had to pay a single fee, and I'm using the card ...
1
vote
1answer
186 views

Maximising total credit limit on credit cards

I am curious about the tactics that someone would use if they wanted to obtain the maximum possible total credit limit. I don't actually intent to do this, but I'm just curious about how much money ...
8
votes
1answer
458 views

Effect of going over the credit limit on a credit card to your credit score?

If I have a credit card balance that is over the credit limit, and I don't go under within 30-days, the provider will report the overage to the reporting agencies. If you have generally good credit ...
7
votes
3answers
573 views

What should my credit limit be?

I have two credit cards (through the same bank). The first I got at age 18, and the 2nd I applied for while in grad school for better rewards. I use credit cards (primarily the more recent one) for ...
2
votes
1answer
117 views

Went over my credit limit by a bit. I paid half of the balance today. Any consequences?

I saw that my card had went over the credit limit. I paid half of the balance off today. I also requested for additional credit. Will there be any penalty fees?
13
votes
7answers
7k views

What's the average credit limit?

For a number of reasons, I recently asked my credit card company for a credit limit increase. I was hoping they'd propose a new limit to me, but they instead the reverse happened: they asked how much ...