what's considered a 'high' credit card limit these days? - GoFuckYourself.com

quiet · 10-27-2004, 02:39 PM

25K, 50K, 100K? more?

Sly · 10-27-2004, 02:42 PM

I just hit the $500 mark. I'm so happy!

Are you asking for personal credit or business credit? I have a pretty decent limit on my company cards. Nothing major, but I wouldn't want to be drunk and stupid with it, haha.

Roald · 10-27-2004, 02:43 PM

I want the Centurion (black) card

Gynecologist · 10-27-2004, 02:44 PM

Shit, they never stop increasing mine. And my Amex does not have a limit so I have no idea how much I could charge on there.

psyko514 · 10-27-2004, 02:44 PM

75K-100K is considered high.

credit is relatively easy to get due to all the competition. you wouldn't believe how many kids aged 18-21 have a 10-20K limit nowadays.

quiet · 10-27-2004, 02:44 PM

Quote:

Originally posted by Sly
I just hit the $500 mark. I'm so happy!

Are you asking for personal credit or business credit? I have a pretty decent limit on my company cards. Nothing major, but I wouldn't want to be drunk and stupid with it, haha.

hmm, personal i guess...

AndrewKanuck · 10-27-2004, 02:44 PM

Amex Corp. card, no limit - buy a fucking Boeing with it

quiet · 10-27-2004, 02:46 PM

Quote:

Originally posted by psyko514
75K-100K is considered high.

credit is relatively easy to get due to all the competition. you wouldn't believe how many kids aged 18-21 have a 10-20K limit nowadays.

i just got off the phone with mastercard, they told me i could have whatever limit increase i wanted. so i asked (half-jokingly) for 150K, they said no problem. i'm still laughing. unbelievable. also said once i get comfortable with that, they can go much higher.

detoxed · 10-27-2004, 02:47 PM

Quote:

Originally posted by psyko514
75K-100K is considered high.

credit is relatively easy to get due to all the competition. you wouldn't believe how many kids aged 18-21 have a 10-20K limit nowadays.

My highest is $7500... then $5600, then $4500. $0 balances though.

detoxed · 10-27-2004, 02:47 PM

Quote:

Originally posted by quiet
i just got off the phone with mastercard, they told me i could have whatever limit increase i wanted. so i asked (half-jokingly) for 150K, they said no problem. i'm still laughing. unbelievable. also said once i get comfortable with that, they can go much higher.

Ask the minimum payment on a $150k balance, and what bank?

I'm looking for a good credit card... every fucking one I have now blocks the card as soon as I make an online purchase, so when I try to use it in a store its almost always declined until I call in.

cocky · 10-27-2004, 02:48 PM

Quote:

Originally posted by Gynecologist
Shit, they never stop increasing mine. And my Amex does not have a limit so I have no idea how much I could charge on there.

they always say no limit....until you try to put a car on it and then they have an excuse. I've had mine up to 35k before they wanted to see it paid down before increasing it more.

quiet · 10-27-2004, 02:49 PM

Quote:

Originally posted by detoxed
Ask the minimum payment on a $150k balance

doesn't matter. i pay off my card to close to zero several times/month.

Peaches · 10-27-2004, 02:49 PM

Unlimited.

psyko514 · 10-27-2004, 02:50 PM

Quote:

Originally posted by quiet
i just got off the phone with mastercard, they told me i could have whatever limit increase i wanted. so i said (half-jokingly) for 150K, they said no problem. i'm still laughing. unbelievable. also said once i get comfortable with that, they can go much higher.

lol... nice. obviously, your net worth comes into play.

just keep this in mind when you're applying for credit elsewhere: a $150K credit card is seen by creditors as a $150K debt, even if your balance is $0.

that may not affect you, but it affects all the people who've got 4-5 unused credit cards in their wallet.

"But CIBC just gave me $15K and BMO just gave me $12K. Why can't you raise my limit to $10K?" is a question I heard on a near-daily basis.

VeriSexy · 10-27-2004, 02:50 PM

Quote:

Originally posted by AndrewKanuck
Amex Corp. card, no limit - buy a fucking Boeing with it

Yeah but how are you going to pay that back? Not the mention the interest is like 17%

detoxed · 10-27-2004, 02:50 PM

Quote:

Originally posted by quiet
doesn't matter. i pay off my card to close to zero several times/month.

No just curious... whats your interest rate?

Sexzity · 10-27-2004, 02:51 PM

Mith a stupid question, but how does creditrating works, if a guy on 18-21 can get a limit on 20k ?

Gynecologist · 10-27-2004, 02:52 PM

Quote:

Originally posted by cocky
they always say no limit....until you try to put a car on it and then they have an excuse. I've had mine up to 35k before they wanted to see it paid down before increasing it more.

Yeah, that is the same thing that happend to me a few years ago. I was putting about $30K - $40K on my Amex and one day they called me about it.

quiet · 10-27-2004, 02:53 PM

Quote:

Originally posted by psyko514
lol... nice. obviously, your net worth comes into play.

just keep this in mind when you're applying for credit elsewhere: a $150K credit card is seen by creditors as a $150K debt, even if your balance is $0.

that may not affect you, but it affects all the people who've got 4-5 unused credit cards in their wallet.

"But CIBC just gave me $15K and BMO just gave me $12K. Why can't you raise my limit to $10K?" is a question I heard on a near-daily basis.

interesting. yeah, the reason they said they could offer me any amount i wanted, was net worth. i'm still feeling pretty stunned lol. like, would they extend me 500K, 1 M? shit, i could buy my next house with a creditcard.

so basically others will look at me like i have a 150K loan now?

detoxed · 10-27-2004, 02:53 PM

Quote:

Originally posted by psyko514
lol... nice. obviously, your net worth comes into play.

just keep this in mind when you're applying for credit elsewhere: a $150K credit card is seen by creditors as a $150K debt, even if your balance is $0.

that may not affect you, but it affects all the people who've got 4-5 unused credit cards in their wallet.

"But CIBC just gave me $15K and BMO just gave me $12K. Why can't you raise my limit to $10K?" is a question I heard on a near-daily basis.

Wait... how the fuck is it considered debt? I've never heard of that. Is it only for high amounts? What amount does that start at? A $150k CC with $0 balance is using 0% of available credit. (for you non-math majors)

psyko514 · 10-27-2004, 02:53 PM

Quote:

Originally posted by detoxed
My highest is $7500... then $5600, then $4500. $0 balances though.

My highest is $4K, with a 5% interest rate. I don't use my credit card ever though. I always pay cash. The only thing going on my credit card right now is monthly bills (cell, internet, cable, phone, etc) which subsequently get paid off.

The min. payment on a card here in Canada is typically 3-5%. So on a $150K balance, we're talking $4500-$7500. Interest rate is probably 17-19% with 21 grace days though.

detoxed · 10-27-2004, 02:55 PM

Quote:

Originally posted by psyko514
My highest is $4K, with a 5% interest rate. I don't use my credit card ever though. I always pay cash. The only thing going on my credit card right now is monthly bills (cell, internet, cable, phone, etc) which subsequently get paid off.

The min. payment on a card here in Canada is typically 3-5%. So on a $150K balance, we're talking $4500-$7500. Interest rate is probably 17-19% with 21 grace days though.

My cards are 2% of balance or $20, whatevers higher.

Sly · 10-27-2004, 02:55 PM

Quote:

Originally posted by detoxed
Wait... how the fuck is it considered debt? I've never heard of that. Is it only for high amounts? What amount does that start at? A $150k CC with $0 balance is using 0% of available credit. (for you non-math majors)

It's considered debt because you have an open line that you could go out and run up, possibly jeopardizing their ability to collect payment from you when needed.

StuartD · 10-27-2004, 02:55 PM

Future Shop screwed my credit up... bought something while in school, tuition went up, I couldn't pay.. it went to credit, I paid them off and they never reported it on my record.

So now.... no... no credit cards for me

KRL · 10-27-2004, 02:56 PM

Quote:

Originally posted by quiet
doesn't matter. i pay off my card to close to zero several times/month.

They don't want people to pay off the load. They want to earn interest on your debt.

People that pay instantly are the least profitable customers.

detoxed · 10-27-2004, 02:56 PM

Quote:

Originally posted by Sly
It's considered debt because you have an open line that you could go out and run up, possibly jeopardizing their ability to collect payment from you when needed.

No, thats not what I'm asking. Every time my credit card limit has raised, my credit score has gone up. With $0 balances. So what he is saying doesnt make sense.

detoxed · 10-27-2004, 02:57 PM

Quote:

Originally posted by MaskedMan
Future Shop screwed my credit up... bought something while in school, tuition went up, I couldn't pay.. it went to credit, I paid them off and they never reported it on my record.

So now.... no... no credit cards for me

If you are in the US it takes like 15 seconds to fix that. If outside the US, oh well no one cares.

bjjb · 10-27-2004, 02:57 PM

Guess im a high risk. Highest limit I ever had was a grand

quiet · 10-27-2004, 02:57 PM

Quote:

Originally posted by KRL
They don't want people to pay off the load. They want to earn interest on your debt.

People that pay instantly are the least profitable customers.

well, no shit. so what? they are willing to raise my limit to whatever i want now, so they must be happy.

kmanrox · 10-27-2004, 02:58 PM

amex corp plat has no limit per se... very flexible and grows with your biz

and KRL is right, they don't like ppl who pay off their debt every month.... you should always keep some debt on it...

ytcracker · 10-27-2004, 02:59 PM

creditors consider your limit because technically if you got addicted to crack and ran them up you could hang yourself with every penny

thats why its usually good to have only one or two moderate limit cards with less than half balance

detoxed · 10-27-2004, 02:59 PM

Quote:

Originally posted by quiet
well, no shit. so what?

yeah sucks for them, not you

psyko514 · 10-27-2004, 03:00 PM

Quote:

Originally posted by detoxed
Wait... how the fuck is it considered debt? I've never heard of that. Is it only for high amounts? What amount does that start at? A $150k CC with $0 balance is using 0% of available credit. (for you non-math majors)

it's like that for any amount.

a card with a $0 balance can easily have a $20K balance in minutes.

when you apply for credit somewhere, they look at your total debt ratio. say you've got $25K worth of credit, but a $0 balance. if i, as a creditor, base your total debt ratio around your $0 balance, i could easily approve you for credit and give you say another $10K.

but who's the say that the second i approve you, you're not gonna go out and load up all your cards, putting yourself in a position where you can't pay back the credit i extended to you?

a $10K credit card is seen as a $10K debt, however, when you do a total debt ratio, only the minimum payment on a $10K debt is taken into consideration.

for example, when i'm doing a TDR, i calculate 5% of all your available credit. i add your monthly mortgage/rent, car and loan payments to that. if your monthly income is higher than that, i can extend you credit (providing you've got good history, stable job, etc).

detoxed · 10-27-2004, 03:00 PM

Quote:

Originally posted by kmanrox
amex corp plat has no limit per se... very flexible and grows with your biz

and KRL is right, they don't like ppl who pay off their debt every month.... you should always keep some debt on it...

Yeah but who cares if they like you? If they are willing to give you a high limit then others will to.

Shoehorn! · 10-27-2004, 03:00 PM

Quote:

Originally posted by psyko514
lol... nice. obviously, your net worth comes into play.

A big part of credit/financing is your debt to income ratio.

psyko514 · 10-27-2004, 03:05 PM

Quote:

Originally posted by detoxed
No, thats not what I'm asking. Every time my credit card limit has raised, my credit score has gone up. With $0 balances. So what he is saying doesnt make sense.

your credit limits don't play into your credit score. it's vice versa. your credit limits are going up because your score went up.

the limits are only taken into consideration when doing a TDR and manually extending you credit.

MaskedMan, you can easily get that fixed. Future Shop have the legal obligation to do so. Order a copy of your report from Equifax, get a proof of your payment in full, and get Future Shop to amend your credit file accordingly.

SmutPeddler, I'm aware.

For those that don't know, I worked for Visa for a few years, extending credit to tons of people. I'm not pulling this shit out of my ass or basing it on an article I read somewhere. I'm speaking from experience as a trained creditor.

xclusive · 10-27-2004, 03:05 PM

I just live off my debit cards...I figure if I don't have the cash for something I shouldn't get it...

quiet · 10-27-2004, 03:07 PM

Quote:

Originally posted by psyko514
your credit limits don't play into your credit score. it's vice versa. your credit limits are going up because your score went up.

the limits are only taken into consideration when doing a TDR and manually extending you credit.

MaskedMan, you can easily get that fixed. Future Shop have the legal obligation to do so. Order a copy of your report from Equifax, get a proof of your payment in full, and get Future Shop to amend your credit file accordingly.

SmutPeddler, I'm aware.

For those that don't know, I worked for Visa for a few years, extending credit to tons of people. I'm not pulling this shit out of my ass or basing it on an article I read somewhere. I'm speaking from experience as a trained creditor.

what do you think they'd say if i called them next month and ask for 500K limit? and do you think it's a good idea? it certainly would make things much more convienent for me.

detoxed · 10-27-2004, 03:07 PM

Quote:

Originally posted by psyko514
it's like that for any amount.

a card with a $0 balance can easily have a $20K balance in minutes.

when you apply for credit somewhere, they look at your total debt ratio. say you've got $25K worth of credit, but a $0 balance. if i, as a creditor, base your total debt ratio around your $0 balance, i could easily approve you for credit and give you say another $10K.

but who's the say that the second i approve you, you're not gonna go out and load up all your cards, putting yourself in a position where you can't pay back the credit i extended to you?

I understand this concept completely, I am not "slow"

Quote:

a $10K credit card is seen as a $10K debt, however, when you do a total debt ratio, only the minimum payment on a $10K debt is taken into consideration.

for example, when i'm doing a TDR, i calculate 5% of all your available credit. i add your monthly mortgage/rent, car and loan payments to that. if your monthly income is higher than that, i can extend you credit (providing you've got good history, stable job, etc).

If a $10k credit card is seen as a $10k debt... why does my credit score rise with my limit? And no is doesnt rise due to other factors, its a huge jump directly correspoding with that one change in the facts.

detoxed · 10-27-2004, 03:10 PM

Quote:

Originally posted by psyko514
your credit limits don't play into your credit score. it's vice versa. your credit limits are going up because your score went up.

the limits are only taken into consideration when doing a TDR and manually extending you credit.

LOL again I'm not a moron. My credit score of course is always rising. And of course credit limit increases are based on that. But then please explain the sudden jump in my credit score immediately after a raise in credit limit?

I check my credit report and score several times per month and know exactly what changes in between each time.

DatingGold · 10-27-2004, 03:10 PM

Business Amex Unlimited
Personal Chase Card $50k

DatingGold · 10-27-2004, 03:11 PM

Quote:

Originally posted by detoxed
LOL again I'm not a moron. My credit score of course is always rising. And of course credit limit increases are based on that. But then please explain the sudden jump in my credit score immediately after a raise in credit limit?

I check my credit report and score several times per month and know exactly what changes in between each time.

checking it several times per month reduces it I thought..

psyko514 · 10-27-2004, 03:13 PM

Quote:

Originally posted by detoxed
If a $10k credit card is seen as a $10k debt... why does my credit score rise with my limit? And no is doesnt rise due to other factors, its a huge jump directly correspoding with that one change in the facts.

read my other reply to you.

quiet, i honestly couldn't give you advice in that field. i rarely worked with customers such as yourself. the highest limit i ever personally handled was $200K.

logic dictates that so long as you have the income available to pay back what you take, then there shouldn't be a problem.

but i'm not a financial advisor

Shoehorn! · 10-27-2004, 03:13 PM

Quote:

Originally posted by quiet
what do you think they'd say if i called them next month and ask for 500K limit? and do you think it's a good idea? it certainly would make things much more convienent for me.

Everytime you ask for a raise on your limit they run a credit report on you. Everytime they run a credit report on you it counts as a "hit" on your overall credit and the more hits you have the worse it looks.

quiet · 10-27-2004, 03:16 PM

Quote:

Originally posted by TheSmutPeddlerDOTcom
Everytime you ask for a raise on your limit they run a credit report on you. Everytime they run a credit report on you it counts as a "hit" on your overall credit and the more hits you have the worse it looks.

i've never asked for a limit increase before ever. they called me. i'm sure once isn't going to hurt me lol.

$tandaman · 10-27-2004, 03:18 PM

Quote:

Originally posted by DatingGold
checking it several times per month reduces it I thought..

Only if other creditors look at it, ,you can look at it as many times as you want, those requests are not affecting your score.

Shoehorn! · 10-27-2004, 03:19 PM

Quote:

Originally posted by quiet
i've never asked for a limit increase before ever. they called me. i'm sure once isn't going to hurt me lol.

Ah. Yeah once won't make a difference really, it really only affects people who apply for loans and have 8 different companies run seperate reports or apply for new credit cards all the time.

psyko514 · 10-27-2004, 03:21 PM

Quote:

Originally posted by detoxed
LOL again I'm not a moron. My credit score of course is always rising. And of course credit limit increases are based on that. But then please explain the sudden jump in my credit score immediately after a raise in credit limit?

I check my credit report and score several times per month and know exactly what changes in between each time.

detoxed, i'm not going to tell you any different than i already have. if you think your credit score goes up everytime your limit goes up, and not vice versa, you're wrong.

i worked with credit files on a daily basis up until 2 months ago. my closest friend worked several years at equifax and now works for visa. if the whole credit granting/scoring process changed in the last two months, he'd have told me.

if you doubt my abilities or qualifications, feel free to discuss the issue with your creditors, equifax and your financial advisor.

datinggold, checking your own credit file doesn't reduce the score. creditors checking it reduces the score, however it's negligible (generally 2-4 points per inquiry).

not only does each inquiry from a creditor lowers your score, the inquiry stays on your file for two years. if you've got tons of inquiries, especially relatively close together (for example, 6 in 1 month), you'll get labelled as a credit seeker. creditors will want to know why you keep applying for credit. questions as to the legitimacy of your claims on job, rent, repayment abilities, etc will come into play.

spankstrocko · 10-27-2004, 03:21 PM

quiet,

If you pay down your card a few times a mnth you are honestly better off asking Amex for a black or high limit platinum charge card. These are different from Credit cards.

Like people said before having a $150k limit on a credit card can be good or bad.

A charge card will work better for your situation.

Spankstrocko

KRL · 10-27-2004, 03:22 PM

Quote:

Originally posted by quiet
well, no shit. so what? they are willing to raise my limit to whatever i want now, so they must be happy.

Well, yeh they're happy, that's their technique to eventually get the customers to the point where they end up not paying off the debt each month because its so large.

10-27-2004, 02:39 PM	#1
quiet we'll miss you our friend. RIP Industry Role: Join Date: Sep 2001 Location: Fernie, BC Posts: 25,115	what's considered a 'high' credit card limit these days? 25K, 50K, 100K? more? __________________ we'll miss you our friend. RIP

10-27-2004, 02:42 PM	#2
Sly Let's do some business! Industry Role: Join Date: Sep 2004 Location: Austin, TX Posts: 31,339	I just hit the $500 mark. I'm so happy! Are you asking for personal credit or business credit? I have a pretty decent limit on my company cards. Nothing major, but I wouldn't want to be drunk and stupid with it, haha. __________________ Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted Windows VPS now available Great for TSS, Nifty Stats, remote work, virtual assistants, etc. Click here for more details.

10-27-2004, 02:43 PM	#3
Roald SecretFriends.com Industry Role: Join Date: May 2001 Location: IMC Headquarters Posts: 27,889	I want the Centurion (black) card __________________ WE ARE BUYING PAY SITES! CONTACT ME ClubSweethearts \| ManUpFilms \| SinfulXXX \| HOT * AdultPrime * HOT Paying webmasters since 1996! Contact: r.riepen @ sansylgroup.com \| telegram: roaldr

10-27-2004, 02:44 PM	#5
psyko514 See sig. Join Epic Cash. Join Date: Oct 2002 Location: Montreal, Quebec. ICQ: 214702014 Posts: 22,366	75K-100K is considered high. credit is relatively easy to get due to all the competition. you wouldn't believe how many kids aged 18-21 have a 10-20K limit nowadays. __________________ Bad Girl Bucks - 50% Revshare through CCBill. Promote BrandyDDD, Pixie's Pillows, Action Allie and more! Phoenix Forum Pics \| Webmaster Access Montreal pics email: psyko514(a)gmail.com \| icq: 214-702-014

10-27-2004, 02:44 PM	#7
AndrewKanuck Confirmed User Join Date: Jan 2004 Location: Cleveland & Atlanta Posts: 6,706	Amex Corp. card, no limit - buy a fucking Boeing with it __________________

10-27-2004, 02:44 PM	#4
Gynecologist Confirmed User Join Date: Sep 2004 Location: Los Angeles Posts: 2,184	Shit, they never stop increasing mine. And my Amex does not have a limit so I have no idea how much I could charge on there.

10-27-2004, 02:49 PM	#13
Peaches Old broad Join Date: Oct 2002 Location: Away Posts: 13,933	Unlimited.

10-27-2004, 02:51 PM	#17
Sexzity Confirmed User Join Date: Jun 2002 Location: Cyperspaces! Posts: 1,329	Mith a stupid question, but how does creditrating works, if a guy on 18-21 can get a limit on 20k ?

10-27-2004, 02:55 PM	#24
StuartD Sofa King Band Join Date: Jul 2002 Location: Outside the box Posts: 29,903	Future Shop screwed my credit up... bought something while in school, tuition went up, I couldn't pay.. it went to credit, I paid them off and they never reported it on my record. So now.... no... no credit cards for me __________________ This is me on facebook This is me on twitter

10-27-2004, 02:57 PM	#28
bjjb Have laptop will travel Join Date: Mar 2004 Location: 145201426 Posts: 13,074	Guess im a high risk. Highest limit I ever had was a grand

10-27-2004, 02:58 PM	#30
kmanrox aka K-Man Industry Role: Join Date: Oct 2001 Location: The Gutter Posts: 29,292	amex corp plat has no limit per se... very flexible and grows with your biz and KRL is right, they don't like ppl who pay off their debt every month.... you should always keep some debt on it... __________________ Crypto HODLr Crypto mining Angel investor

10-27-2004, 02:59 PM	#31
ytcracker stc is the greatest Join Date: Dec 2002 Location: rip sean murray Posts: 12,403	creditors consider your limit because technically if you got addicted to crack and ran them up you could hang yourself with every penny thats why its usually good to have only one or two moderate limit cards with less than half balance __________________ www.ytcracker.com \| www.digitalgangster.com i love you

10-27-2004, 03:05 PM	#37
xclusive Too lazy to set a custom title Join Date: Apr 2004 Location: Buffalo, NY Posts: 35,218	I just live off my debit cards...I figure if I don't have the cash for something I shouldn't get it... __________________ I support MediumPimpin.com / Shemp's Outlawtgp.com /

10-27-2004, 03:10 PM	#41
DatingGold $6 PER EMAIL JOiN Industry Role: Join Date: Feb 2003 Location: California Posts: 13,185	Business Amex Unlimited Personal Chase Card $50k __________________ 9 Years of SOLID payouts and conversions! ADULT DATING - $100 PPS LIVE CAMS - $214 PPS WWW.DATINGGOLD.COM ICQ: 27442303

10-27-2004, 03:21 PM	#49
spankstrocko Confirmed User Join Date: Aug 2001 Location: Boston, MA Posts: 454	quiet, If you pay down your card a few times a mnth you are honestly better off asking Amex for a black or high limit platinum charge card. These are different from Credit cards. Like people said before having a $150k limit on a credit card can be good or bad. A charge card will work better for your situation. Spankstrocko