4 ms·
Why would you want such a high credit limit? Are you dying to spend money you don’t have?
by hamburglar 9mo ago
Why would you want such a high credit limit? Are you dying to spend money you don’t have?
- nutjob2 9mo agoSo you can tell other people about it.
- milkshakes 9mo 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 9mo agoOh my God what a financial hellhole US is
- hamburglar 9mo 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 9mo agoi don't have any problems with credit, i am just answering the question
- unethical_ban 9mo agoHate the game, not the player. High credit limits = lower utilization ratio = better credit score.
- hamburglar 9mo 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 9mo agoWhy would you assume they don't have $11xxxx?
- hamburglar 9mo 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 9mo 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 9mo 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.