Limit on credit card purchase
What is the maximum limit card that you hold? And what is the limit?
It's almost embarrassing how high my limits are. The good news is that I'm nowhere near them.
All I can say is my limits are quite high. And I really do not plan on ever reaching the limit. I really don't like using credit cards that much.
Knowing the credit card industry as I do, I tend to feel guilty about using them as well. I personally believe the cc industry is responsible for a fraction of regular inflation and would be interested in seeing just how much culpability they hold.
mine is on very minimum credit limit..i barely erquest for an increase... my first credit card which is like 5 years with me is still on the same minimum limit..im afraid i might spend all the limit if i requested for a higher one...
I had a very minimum credit limit, after a year of service they did increase my credit limit. Actually I did not request for credit limit increase. For me dont request when you dont need it.
Credit card companies normally increase your limits as long as you make purchases with your credit cards. If you actually do business with them a lot, they actually decrease their interest rates too.
I try to stick mainly to my American Express card, which has no limit but you have to pay it in full each month. That way if I have an emergency and need a card it's there, but I'm not tempted to carry the debt. AmEx does have an option to carry debt but the interest rates are outrageous.
[QUOTE=kittykittylala;1293]I had a very minimum credit limit, after a year of service they did increase my credit limit. Actually I did not request for credit limit increase. For me dont request when you dont need it.[/QUOTE]
That's not always an option. Most credit card companies raise your limits automatically after a period of time. That's how they reel you in...
[QUOTE=Mirer14;1536]That's not always an option. Most credit card companies raise your limits automatically after a period of time. That's how they reel you in...[/QUOTE]
Yes this is true. My credit card company just raised my limit without me knowing.
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