What is your credit limit?

[bandrus1 413]

Made a larger purchase with my card the other day and was asked if I wanted to put it all on one card and I said "yeah why not?" and they said not everybody has that credit available.

 

I kind of looked sideways at them because it wasnt all that much really. Got me thinking I actually dont know what the average person has as a credit limit on one card..

 

I know it will turn into a look at me thread but what honestly what is "normal"

 

 

My single credit card is $15,000

[Mike Honcho 4,009]

Made a larger purchase with my card the other day and was asked if I wanted to put it all on one card and I said "yeah why not?" and they said not everybody has that credit available.

 

I kind of looked sideways at them because it wasnt all that much really. Got me thinking I actually dont know what the average person has as a credit limit on one card..

 

I know it will turn into a look at me thread but what honestly what is "normal"

 

 

My single credit card is $15,000

 

Only have 2 cards 15K and 25K. Right now the balance on both is the highest it's been in years, like 1,200 bucks total. Trip to Vegas and NYC in one month.

[5-Points 2,715]

I cut up the credit cards years ago. If I don't have the cash, I can't afford it.

 

 

ETA: Used to have a couple. $20K on one $10K on the other.

[Cdub100 3,366]

Couple cards 20k one card "no limit"

 

Of course there is a limit but not really.

[Cdub100 3,366]

I cut up the credit cards years ago. If I don't have the cash, I can't afford it.

That's a good rule more people should follow.

 

I for one abuse the sh1t out of deals offers and points.

 

For example for one card I needed to buy 2k in crap. I didn't have anything I needed to I went to the us mint and bought 1k in dollar coins.

[Mike Honcho 4,009]

That's a good rule more people should follow.

 

I for one abuse the sh1t out of deals offers and points.

 

For example for one card I needed to buy 2k in crap. I didn't have anything I needed to I went to the us mint and bought 1k in dollar coins.

 

There was a Miles or Points scam someone did that was like that, would buy 10K in coins, get points, sell coins for 10K & pay off card balance. Story is out there somewhere....

[5-Points 2,715]

That's a good rule more people should follow.

 

I for one abuse the sh1t out of deals offers and points.

 

For example for one card I needed to buy 2k in crap. I didn't have anything I needed to I went to the us mint and bought 1k in dollar coins.

I got my first credit card when I was looking to buy a house. I went to a mortgage broker (family friend) who asked me if I had any bad credit. I said "No, I don't have any bad credit, in fact I don't have any credit". To my surprise, no credit was worse than bad credit. The fact that I didn't owe anybody any money was a good thing, or so I thought.

 

So I applied for a couple of low limit cards and spent the next couple of years charging and paying off sh!t I didn't need to charge in the first place. Seemed stupid then and it still does.

 

Eventually, I had owed enough people money that the bank figured I was a safe bet for a home loan. By then I had a $20K credit limit. So what's an idiot to do but buy a bunch of new sh!t for his new house? Maxed out my cards and spent the next 10 years (slight exaggeration) paying off sh!t that I'd already had to replace by the time I paid it off.

 

 

 

Cut em up about 10 years ago and haven't missed them since.

[bandrus1 413]

I cut up the credit cards years ago. If I don't have the cash, I can't afford it.

 

 

ETA: Used to have a couple. $20K on one $10K on the other.

 

 

If you are not disciplined fine. I never carry a balance from month to month and there is 0 reason for me to pay in cash or carry cash when I can earn cash back... I can do almost all my x mas shopping at the end of the year when I turn my points into cash

[bandrus1 413]

 

For example for one card I needed to buy 2k in crap. I didn't have anything I needed to I went to the us mint and bought 1k in dollar coins.

 

 

Your card has that loophole where you earned points?

[GhostofTEK 71]

I cut up the credit cards years ago. If I don't have the cash, I can't afford it.

 

 

ETA: Used to have a couple. $20K on one $10K on the other.

Same here.

[Cdub100 3,366]

 

 

Your card has that loophole where you earned points?

Yes that was probably 6 years ago. I'm thinking they closed that loophole though. You can use you credit card to pay bills too. That helps earn points.

 

I buy and sell magic. I use eBay cc to purchase product (using coupons and cash back only). Savese hundreds a month.

 

Credit cards can be both extremely dangerous and extremely beneficial.

 

You have to pay them off every month and abuse the points

[bandrus1 413]

Yes that was probably 6 years ago. I'm thinking they closed that loophole though. You can use you credit card to pay bills too. That helps earn points.

 

I buy and sell magic. I use eBay cc to purchase product (using coupons and cash back only). Savese hundreds a month.

 

Credit cards can be both extremely dangerous and extremely beneficial.

 

You have to pay them off every month and abuse the points

Ahh ok... Yeah I pay most my bills with my credit card.

 

Wish my mortgage could be but I got like .25 or .5 off my interest rate by haveing automatic withdrawal

[Patriotsfatboy1 1,432]

I have 3 credit cards, but really only use 2.

- BJ's Visa for shopping there (cash back is better than AMEX). Limit is $15k

- AMEX points rewards. Limit is $15k

- AMEX cash rewards, which is what I use 99% of the time. Just bumped the limit to $25k because I bought new kitchen cabinets and our February vacation all within 1 month. That was a big chunk to pay all at once, but I don't carry any balances on my credit cards. The cash back will be nice.

[MTSkiBum 1,593]

1 million dollars

[Cloaca du jour 2,064]

Cut up cards ages ago. Get solicitations in mail everyday.

[Bert 1,087]

25K on one and 16K on the other.

 

I refuse to disclose my credit limit with Caesars Entertainment.

[supermike80 1,285]

 

There was a Miles or Points scam someone did that was like that, would buy 10K in coins, get points, sell coins for 10K & pay off card balance. Story is out there somewhere....

Specifically and deliberately banned on point earning credit cards now.

[bandrus1 413]

To people who have 0 credit cards, you only have a debit card and you are confident you have enough in your checking in case of extreme emergency?

[frank 2,144]

$6,000. Always pay it off, sometimes the same day I buy something. I haven't paid a penny of interest on anything in over 5 years.

[jerryskids 5,169]

To people who have 0 credit cards, you only have a debit card and you are confident you have enough in your checking in case of extreme emergency?

 

Yeah, between this and losing out on points, I don't get it.

 

Also I have two cards which I primarily use:

1. Home: Southwest Airlines Visa. Can't remember the last time anyone in our family paid for a flight.

2. Work: Chase Sapphire Reserve. If that card has a limit, I'll never hit it. Then again, I am going to Vegas next weekend...

[patweisers44 697]

50k at the Harrahs properties in Vegas. I don't gamble anywhere near the point of losing that much in one trip, its just easier than carrying cash on a plane.

[GhostofTEK 71]

To people who have 0 credit cards, you only have a debit card and you are confident you have enough in your checking in case of extreme emergency?

Nope. But I wouldn't if I had credit cards because the fake girlfriend would max them out. So it's a wash

[frank 2,144]

To people who have 0 credit cards, you only have a debit card and you are confident you have enough in your checking in case of extreme emergency?

I pay cash for almost everything. I have a lot more money in the bank than the limit on my card.

 

Geek club answer, but true.

 

Short term, I do work on that principle. If I go out of town, I take the cash I think I will need plus my card. That way, I have way more than I expect to need.

[tubby_mcgee 686]

I spend about 80k on my card a year. I need to get that cut down. I get 2% cashback on every purchase, and I purchase most that I can on that card. I still waste too much money. Gotta start not buying so much unneeded junk.

 

I have 4 cards.

1.) Discover - 13k limit. Pays 1% cash back. I've had this card for 24 years. I don't use this card.
I switched to this:

2.) GM Card - 12k limit. 5% of purchases toward new GM Vehicle up to $1500. I don't use this card.

then I switched to this:

3.) Capital One World Card - 18K limit - Pays 1.5% cash back on all purchases.

and then I switched to this:

4.) Citibank DoubleCash - 15k limit. The card I use. Pays 2% back on all purchases This is what I use for everything.

 

I'd like to cancel 2 of the cards, for "piece of mind" but they say it hurts your credit rating.

I've never missed a payment and never paid interest- ever.
I have no auto loans, no house loans, no money owed to anyone other than my card, and I pay that every month.

I get my credit score every month. It fluctuates. This month 803. Last month 819. Month before that 812.

[tanatastic 2,061]

Why ask this?

[MTSkiBum 1,593]

Why ask this?

To brag.

[Cdub100 3,366]

Why ask this?

Collecting PII

[GhostofTEK 71]

Why ask this?

To see who's ID to steal.

[bandrus1 413]

Why ask this?

Did you read the original post?

[tanatastic 2,061]

Did you read the original post?

The only possible replies to this are just veiled personal finance brags followed by oneupsmanship brags. Its just pointless.

[wiffleball 4,631]

#QuestionBrag

[Djgb13 2,338]

Had one for 20K but never used it. Most of the time the stuff I wanted I could afford so there was no point in putting it on a credit card

[Reality 2,710]

Mine is $20,001

 

Kind of a weird limit but, it is what it is..

 

[Gladiators 1,903]

All of mine say GC rich.

[penultimatestraw 473]

I got my first credit card when I was looking to buy a house. I went to a mortgage broker (family friend) who asked me if I had any bad credit. I said "No, I don't have any bad credit, in fact I don't have any credit". To my surprise, no credit was worse than bad credit. The fact that I didn't owe anybody any money was a good thing, or so I thought.

 

So I applied for a couple of low limit cards and spent the next couple of years charging and paying off sh!t I didn't need to charge in the first place. Seemed stupid then and it still does.

 

Eventually, I had owed enough people money that the bank figured I was a safe bet for a home loan. By then I had a $20K credit limit. So what's an idiot to do but buy a bunch of new sh!t for his new house? Maxed out my cards and spent the next 10 years (slight exaggeration) paying off sh!t that I'd already had to replace by the time I paid it off.

 

 

 

Cut em up about 10 years ago and haven't missed them since.

If you pay your entire cc balance off each month you can still build your credit rating, and have greater protection against fraud/theft than cash allows.

 

I have one card ~20K limit that I use to purchase everything. Never carry money. And I have frozen may credit so no other accounts can be opened.

[penultimatestraw 473]

 

I spend about 80k on my card a year. I need to get that cut down. I get 2% cashback on every purchase, and I purchase most that I can on that card. I still waste too much money. Gotta start not buying so much unneeded junk.

 

I have 4 cards.

 

1.) Discover - 13k limit. Pays 1% cash back. I've had this card for 24 years. I don't use this card.

I switched to this:

2.) GM Card - 12k limit. 5% of purchases toward new GM Vehicle up to $1500. I don't use this card.

then I switched to this:

3.) Capital One World Card - 18K limit - Pays 1.5% cash back on all purchases.

and then I switched to this:

4.) Citibank DoubleCash - 15k limit. The card I use. Pays 2% back on all purchases This is what I use for everything.

 

I'd like to cancel 2 of the cards, for "piece of mind" but they say it hurts your credit rating.

 

I've never missed a payment and never paid interest- ever.

I have no auto loans, no house loans, no money owed to anyone other than my card, and I pay that every month.

I get my credit score every month. It fluctuates. This month 803. Last month 819. Month before that 812.

 

 

 

$80K? Are all your expenses on the cards - mortgage, car payment, etc.? That seems really high.

 

I cancelled a couple cards a while ago. Didn't hurt my credit rating at all.

 

ETA I see no mortgage or car payments. $80K is a sh!t ton of discretionary spending.

[penultimatestraw 473]

The only possible replies to this are just veiled personal finance brags followed by oneupsmanship brags. Its just pointless.

While I can easily see why this could be the case, seems like everybody has answered $15-20K

[Cdub100 3,366]

While I can easily see why this could be the case, seems like everybody has answered $15-20K

900k

[Gladiators 1,903]

Anyone have a Black Card? I got something in the mail a month ago...$495 annual fee

[jerryskids 5,169]

Anyone have a Black Card? I got something in the mail a month ago...$495 annual fee

 

My Chase Sapphire Reserve Visa is $450 annual. $300 comes off the fee for travel expenses which I hit by mid January at the latest. They re-imburse $100 for Global Entry which I've used the past three years for myself, wife, and son. So basically $50 per year, although I can't justify adding my daughters to Global Entry next year so I may need to re-assess.

 

That being said, in addition to points for a variety of services, I get access to just about every airport club, which is hella valuable for me as I travel quite often.