Kagehitokiri

ive seen first hand where a high limit was considered a negative, it literally said that outright

not to mention i was declined by citi when existing credit was 0.8X HHI

charge cards (that dont report limit) are supposed to be paid off (no balance)

trikotret

How high is your limit that you are worried about

longhorn11

You're saying your Amex biz card reports your balance to your personal credit report?

Personal Amex charge cards report your balance and obviously no credit limit (since technically there isn't one). That balance is not factored into modern credit scoring models, making it a non factor. If reported correctly, it will report as an open (non-revolving) account, with a monthly term.

Dr_wanderlust

Lowering your credit limit will only hurt your scores if the card reports. You want a high limit to maintain low(er) utilization.

prasha11

What is high CC Limit? a huge limit? 50,000+ or 100,000+?
If your income is 50,000, 150,000 total CL (triple the income) is not considered to be huge

tatterdema

Really? Guess I am worrying for nothing. Mind boggling to me how a CC company could expect payoff from someone with an income of $50g and CC debt of $150g.

Dr_wanderlust

My total limits exceed my individual income by 7 fold and my household income by almost 2 fold.

Available credit <> debt.

webazoid

Hmm....assume you make 100k a year. It would mean that your credit limit is 700k (7 times individual income). It would also mean your spouse/other source of income makes 350k (2 times househound income), or about three times as much as you. Lucky you.


Be careful about high limits per credit card company. Personally, if you're not gonna use that much, I'd call to have them decrease the credit limit. Saw a post in another thread of a poster who had his family members get multiple chase cards in short period. One family member had more credit liine (with the same number of new cards) and more older cards than the other. The one who had the bigger credit line got all accounts closed by chase while the one with lower credit line didn't.

Dr_wanderlust

Your imputations are not far off.

I disagree with your logic about high limits. I've never had an issuer (or auto or mortgage lender) raise an eyebrow over my overall limits.

mia

Same here, but I did sacrifice to put her through law school .

jjmiller69

It would only hurt your score if you had a high utilization. Example CL $30,000usage $3,000 or 10% is good. CL $9,000 usage $3,000 or 33% is worry some or worse CL of $3,000 and usage of $3,000 is trouble. Now take into account all of your other CC and CL's and add them together.

prasha11

Yes, you are worrying for nothing.... because you don't understand the difference between the 'credit limit' and the 'debt'.

Uh Clem

This is very true. I use my cards for business and monitor my credit scores monthly. My three scores are usually between 760 and 800. Had some large orders last July and maxed out all of my credit credit cards owing around $200k. My credit scores dipped down to the low 700s for a month. They returned to normal the next month after the cards were paid off.