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I have a about $90k~ worth of available credit to me on my CC's alone. How many cards do you have? I understand it's mostly theoretical but I'm wondering why w
by yason 10y ago
I have a about $90k~ worth of available credit to me on my CC's alone.
How many cards do you have? I understand it's mostly theoretical but I'm wondering why would anyone want to use their high-interest credit card to borrow even a few tens of thousands? Or any high-interest vehicle of debt for that much money, for that matter.
- popmystack 10y agoI didn't ask for them. I have 4 total. Two when I got when I was first starting out. I have two cards which comprise the bulk of my credit (one from American Express and the other Chase), which represent ~50% of that $90k. Both have credit limits around $20-25k. >but I'm wondering why would anyone want to use their high-interest credit card to borrow even a few tens of thousands? I don't know, but I'm sure as heck not going to utilize them that much! I am sure the credit issuers wish I did though.
- nommm-nommm 10y agoCredit cards may not be high interest as you may think. Depends. Some credit cards have promotional low or no interest rates for a year or so. You can then balance transfer to another promotional rate card at the end of the year. Also many issuers (Barclaycard, AMEX, Capital One) have low or no interest rates for active duty military.
- yaks_hairbrush 10y ago> why would anyone want to use their high-interest credit card to borrow even a few tens of thousands? Here are a couple ideas: lawyer fees during a contested divorce and emergency spending from being out of work too long.