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I wonder what these means for my credit limit. I have a chase card with 60XXX CL and an AC with 50XXX.
by xyst 10mo ago
I wonder what these means for my credit limit.
I have a chase card with 60XXX CL and an AC with 50XXX.
- hamburglar 10mo agoWhy would you want such a high credit limit? Are you dying to spend money you don’t have?
- nutjob2 10mo agoSo you can tell other people about it.
- milkshakes 10mo agocredit utilization is a factor in credit scores, which are important for things like mortgages and auto loans. higher credit limit, ceteris paribus, is lower utilization
- nixass 10mo agoOh my God what a financial hellhole US is
- hamburglar 10mo agoI have never had a credit limit higher than 1800. I’ve managed to get lots of mortgages at rates that are just fine. Stop believing you’re a slave to your credit score.
- milkshakes 10mo agoi don't have any problems with credit, i am just answering the question
- unethical_ban 10mo agoHate the game, not the player. High credit limits = lower utilization ratio = better credit score.
- hamburglar 10mo agoOh I do hate the game. I refuse to worry about credit scores and I haven’t checked mine in over 20 years. I’ve got a ridiculously low credit limit and that suits me just fine. Live like you don’t need credit.
- triceratops 10mo agoWhy would you assume they don't have $11xxxx?
- hamburglar 10mo agoIf you actually have $110000 in freely available disposable cash and you’re worrying about whether you have the ability to spend it all on a credit card versus arranging a funds transfer or a check, I question your decision-making process. :D
- triceratops 9mo agoIf you think OP wants a high limit card because they don't have cash, you don't know the credit card game well.
- xyst 10mo agoI didn’t "want" it. Chase just gave my auto increases over the years of having this card. Spending habits have yet to change. Also in US, credit utilization is a factor in credit scoring. Higher total credit means a lower utilization.
- hamburglar 10mo agoMy advice is to ask yourself how important your credit limit is, and ask yourself why. And challenge the notion that a better credit score has any positive impact on your life. You have a whole chain of “truths” you take for granted: higher limit implies lower utilization. Lower utilization implies better credit score. Better credit score implies better mortgage rates. Better mortgage rates implies better something. What I’m trying to tell you is you can forget every single bit of that dependency chain without doing yourself any damage and you will actually feel better. Sorry for the proselytizing. I know I’m doing it. But I think it’s a huge part of our consumerism addiction.
- muppetman 10mo agoShame your credibility score is in the negative.