Questions tagged [credit-limit]
The credit-limit tag has no usage guidance.
34
questions
24
votes
8
answers
11k
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Asking bank to reduce APR instead of increasing credit limit
My credit card just notified me that they raised my credit limit (unsolicited). This would do well to my utilization and thus improve my credit scores overall. However, my overall utilization across ...
- 1,936
1
vote
1
answer
134
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How do credit card companies decide the credit limit of a newly issued card?
If someone is applies for a new credit card and gets approved, the credit card company will start them with a given credit limit. What is this limit based on? Is there a way to negotiate a higher ...
- 1,150
8
votes
2
answers
534
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My bank wants to lower my credit limit on my credit card. Will this impact me negatively?
I have a credit card upon which I buy my day-to-day purchases, and pay off in full every month, in order to build a credit history.
I have a credit limit of £4050.
My bank (the issuer) emailed me ...
- 299
1
vote
1
answer
281
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Is a large credit limit on a credit card dangerous if credit card details are hacked and leaked?
Suppose the bank got hacked and credit card details are leaked to hackers. Is it dangerous to have a large credit limit because hackers may use the credit card to go on a spending spree? Would it be ...
- 2,175
12
votes
3
answers
4k
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Available credit more than credit line
I have a credit card with a credit line of $400. I have the whole $400 available to spend right now. I received a refund of $400 from a company. That makes my total available balance go up to $800.
...
- 465
2
votes
5
answers
1k
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How to manage multiple credit accounts balances?
I have a dilemma understanding how and when I should pay my credit balances. At the moment I am using two credit accounts, one is from BofA and the other is from Discover. I always keep paying the ...
- 145
9
votes
4
answers
2k
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Negatives to increased credit card spending limit? [duplicate]
My credit card company is giving me credit increases despite me not asking for them. Are there any drawbacks to an increased spending limit?
For reference I spend 25$ per month on this card, pay it ...
- 624
66
votes
7
answers
15k
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Is there a "catch" on my "increased credit limit"?
Today I received a letter from the bank that issued my credit card. Basically it says that, since I'm "one of their best customers" my credit (card) limit has been increased.
This is the second time ...
- 827
0
votes
1
answer
400
views
Credit line is high on one card, low on another: should I lower before raising?
Assume that:
I opened card A a long time ago and card B recently (different institutions).
I have a very high credit limit on credit card A and a very low one on credit card B.
I do not need the ...
- 3,369
2
votes
3
answers
395
views
Why do credit cards have minimum limits?
Westpac's page on Credit limits says that there's minimum credit limits for its cards. For example, the minimum for Platinum credit cards is A$6000 (just under US$5000).
I can understand there being ...
- 239
1
vote
2
answers
102
views
Credit limit and regular payments
I have 3 credit cards with a total credit limit of $5,100.
I pay my credits every week on Monday.
I spend more than my credit limit every month BUT I never spend more than 50% of my credit limit every ...
- 23
5
votes
4
answers
41k
views
Can I pay off my credit card balance to free up available credit?
Is it possible to pay off my balance more than once in a payment period in order to increase the amount I can spend in a payment period?
I just got a credit card to start rebuilding my credit. I have ...
- 151
3
votes
2
answers
282
views
Does Visa Electron preauth success necessarily mean the transaction will succeed?
I have placed an order with an online store which preauthorises charges at 100% the price of the item. Now on my Visa Electron debit card I have a daily purchase limit of say x dollars. The purchase ...
- 161
3
votes
1
answer
264
views
will using credit card a lot help building credit score?
I have a credit card with a very low limit, which I finish regularly in a very limited time. will using it to the limit and pay the balance several time per one statement help to build the credit ...
- 131
3
votes
4
answers
2k
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Any credit cards that won't let you go over your limit?
My credit card company has this language in the agreement:
You must keep your Account balance below your Account credit line.
If you do not, we may request immediate payment of the amount by ...
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