AMEN TO THAT!!! Credit needs to be treated like a loaded gun - handled with extreme care. Otherwise, it's fun to compare people's "guns". I'm actually trying to get rid of most of my credit cards because I see available credit as money I can/should use on whatever I see can be purchased and want. That's not good for me, so I'm cutting my limits as I pay them down. I'll keep my oldest card, but my debt has gone out of control BECAUSE of having too much available credit.
I have four cards that I barely got.. Chevron: $400 Target: $200 Target Visa: $500 Orchard Bank: $750 Total Credit Available: A Whopping $1850.00 I'm hoping to add GM Card and Citibank to my list soon. Let the jealousy begin -LB
I HAVE FOUND THAT HIGH LIMITS CAN BE USED AGAINST YOU!!! Even though I NEVER have "MAXED" out all my cards (at the same time)...I could choose to, SO CREDIT CARD COMPANIES THINK!!! 24+ years of HISTORY is NOT good enough...some creditors think I would do it anyway!!!
Funny, I think the same thing about you. And BTW, Wolverine topped it so you really aren't "all that".
I have had some of the same experiences, but it's usually with second tier companies. The nice thing about having this much credit is that you don't really need any more. Plus, if you have most of the major players covered, Citi, AMEX, FUSA, MBNA, etc... you rarely miss out on the great bt offers. I'm in a position now where I shouldn't have to apply for any credit for a long long time except maybe a refi once in a while. Of course that means no more trips to the mail box looking for that fat envelope from South Dakota, but life goes on.
(Swaggers into room...throws single card on table) Household Mastercard. $300.00 limit! Total of all credit lines: $300.00 Sigh... Somehow, I don't think that they worry about me suddenly maxing out my card. Radi8
If you have ONE CARD @ 5.99% with $5,000 on it and they "JACK" you to 29.99% WHAT ARE YOU GONNA' DO??? I would just BT that card gone in about 72 hours or less...and close it!!! FIRST USA did that to me for NO REASON!!! "JACKED" me to 22.49%~~~I JACKED THEM BACK AND CLOSED (AND PAID IN FULL) OUR ENTIRE FIRST USA PORTFOLIO OF ABOUT $78,000 FOR 3 CARDS... I currently PAY IN FULL above 5.90%...DISCOVERCARD (5.90% is my highest) will be paid off this week or next and I will have to try for something lower... INTEREST RATES I PAY 0.00% to 5.90% AIN'T BAD!!! BofA will DROP to 4.25% next bill (DECEMBER)...
I am glad I don't. I would be dead meat. I have 6 cards with a total of about 18,500 available. That is plenty for me, maybe to much.
I don't "need" it, but it's nice to have and it helps me sleep better at night knowing that I have a lot of financial flexibility. As George mentioned, you really don't have to take any crap from anyone because you have so many options. And the majority of my cards have no fee or low fees, so it doesn't hurt any to have the cards resting in the old sock drawer.
George, I definitely hear what you are saying about having the flexibility to move one credit card to another if the need should arise. I'm just curious as to why some have credit lines over $100,000. It just seems really excessive.
BECAUSE I CAN... AT ONE TIME...LONG AGO...I HAD ALMOST $200,000 WITH-OUT MY WIFE... I use credit to MY advantage...
quote: -------------------------------------------------------------------------------- Originally posted by christi523 George, I definitely hear what you are saying about having the flexibility to move one credit card to another if the need should arise. I'm just curious as to why some have credit lines over $100,000. It just seems really excessive. -------------------------------------------------------------------------------- Can never tell when one might be siezed by the urge to charge a house!
IT CAN BE DONE!!! When www.cardtrak.com had a "BB" there was a guy that actually used his AMEX GOLD CARD or AMEX PLATINUM CARD to buy a house...HE GOT TONS OF POINTS!!! I WOULD IF I COULD ALSO...but it would be hard when my highest limit isn't even $40,000!!! I gotta' lot of work to do!!!
Because so many people that come to the board can't even get a Target Guest card, and when their credit gets better it's like a ego/reward thing. Charlie
Thank you. That was the sort of candour I was after. No I am not a wanker but I am pleased to hear someone else knows the term. JP
I take my hat off to you. You win! That is better than I can do how long did it take you to get all those? John
Didn't Mark Cuban, Dallas Mavericks owner, break 2 world records by using the internet to make the largest online purchase and use a CC to pay for it. I may be wrong, but I know that he bought a Gulfstream jet for 55 million and I think he used an AMEX to pay for it. I think that Mark Cuban is awesome. He throws some temper tantrums, but he is a real fan. Charlie
