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credit card with a high limit?

 
 
gissele
 
Reply Tue 3 Feb, 2009 02:53 am
What is the best way for me to get one credit card with a high limit instead of the several cards with low limits that I currently hold?
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Type: Question • Score: 7 • Views: 1,488 • Replies: 6
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solipsister
 
  1  
Reply Tue 3 Feb, 2009 04:38 am
@gissele,
apply yourself
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roger
 
  1  
Reply Tue 3 Feb, 2009 05:23 am
@gissele,
Have you tried just asking the bank? Sometimes it works; sometimes you sit around paying your bills on time for years.
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Merry Andrew
 
  1  
Reply Tue 3 Feb, 2009 06:14 am
@gissele,
If you're very conscientious about paying off on your low limit card, the bank will usually increase the credit limit after a fairly short while -- and keep on increasing it. I started with a $500 limit and within a year or so had an $8,500 limit. And I didn't even have to ask for it.
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maporsche
 
  1  
Reply Tue 3 Feb, 2009 06:50 am
In this economy, good luck. Banks are NOT going to be giving high limits, thus exposing themselves more, to ANYONE except those with very high incomes and very, very, good credit.

I say that until the economy recovers you're out of luck.
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Bella Dea
 
  1  
Reply Tue 3 Feb, 2009 07:40 am
Gotta agree with maporche. Credit card companies are lowing people's credit lines right now, not upping them.

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realjohnboy
 
  1  
Reply Tue 3 Feb, 2009 05:21 pm
True enough, credit card companies are being very careful now about raising limits. You can ask at your bank but expect to get a cool reception.
One suggestion: don't max out one card and then move onto the next. For example if you have a card with a $500 limit, another with $700 and a third with $900 ($2100 total) and you spend $1200 in a given month, split it $200, $400 and $600 rather than $500 and $700 and -0-. They don't look favorably on someone maxing out.
And, it goes w/o saying, pay off your balance every month unless there is a true emergency. A sale at the mall does not count as an emergency.
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