Highest available limit credit card?

[disneysteve]

No idea and don't care. Way more than we would ever use.

As it should be. It's best to keep your utilization down around 10-15% of your limit. We rarely go over 10%, though we did this month due to the cruise we took and renewing our Disney World annual passes.

[bjl584]

$18,000 on my Visa.
This is my main card

[StormRichards]

I had to look it up but that required walking about 5 feet from my computer to my desk drawer.

Did you have a statement in the drawer?

I never keep any of that stuff out. I put all information regarding our financial accounts in a locked hanging folder fire safe. And I tend to switch to electronic statements so I don't have to worry about it. My current primary account is new so I like getting the statement but will eventually switch to electronic.

[StormRichards]

This may not apply to you but for others, if you are trying to get your credit score up, a higher credit limit can help because it improves your utilization ratio. If you keep your monthly charges to about 10% of your limit, that looks better as far as your score is concerned than charging 25% or 40% or more.

Excellent point.

Like millions of others, our credit card limit was reduced following the banking crisis. Our limits were well above what we ever charged prior to the reduction, but post reduction our utilization was way too high. Since we used a certain card for the rewards, we didn't want to spread our charges across multiple cards. So when our limits were decreased, I started sending mid cycle payments to keep the utilization at an acceptable level.

[disneysteve]

Did you have a statement in the drawer?

Yes. All bills and statements are filed. I avoid e-bills and statements as much as possible. I'm old fashioned that way.

[SavingSteve]

$26,800 available on my Citi Double Cash card. At one time I carried a big balance but now I pay it every month and never let it get over $200-300 that way it doesn't get hard to pay the entire balance.

[GoodSteward]

No credit card utilization appears as if you are afraid to use them, therefore a higher risk (lowers your score). However, I used to think you had to let it roll a balance(incur interest) to show activity. I was doin' it wrong. lol

You only need to let it show activity for your statement date. If you are in the habit of using it a lot, it doesn't matter as long as you make a payment pre-statement that brings it down to a sub 10% range at least. Don't pay if off though, or it will report 0. The statement date is the key. Just make sure you show a balance on the statement date of an acceptable amount. Then pay the amount of the current statement balance before the next statement date(regardless of charges), and you'll never incur interest but report a balance.

The program I use transfers money from whatever category I spend out of to the credit card payment category, so as long as I have money in a category I'll always have enough payment to cover the credit card balance. Ynab is great for this feature.

[StormRichards]

No credit card utilization appears as if you are afraid to use them, therefore a higher risk (lowers your score). However, I used to think you had to let it roll a balance(incur interest) to show activity. I was doin' it wrong. lol

You only need to let it show activity for your statement date. If you are in the habit of using it a lot, it doesn't matter as long as you make a payment pre-statement that brings it down to a sub 10% range at least. Don't pay if off though, or it will report 0. The statement date is the key. Just make sure you show a balance on the statement date of an acceptable amount. Then pay the amount of the current statement balance before the next statement date(regardless of charges), and you'll never incur interest but report a balance.

The program I use transfers money from whatever category I spend out of to the credit card payment category, so as long as I have money in a category I'll always have enough payment to cover the credit card balance. Ynab is great for this feature.

Excellent point about the 0 utilization. That is why I would make a payment mid-cycle. It would assure that I still had activity but it would not exceed 10%

[disneysteve]

If you are in the habit of using it a lot, it doesn't matter as long as you make a payment pre-statement that brings it down to a sub 10% range at least. Don't pay if off though, or it will report 0.

This is never a problem for us since we use our cards very regularly. Even if we pay our full balance, the balance on the account is never zero since between the time the billing period ends and the time we get and pay the bill, we've already made new charges in the next billing cycle.

[GoodSteward]

This is never a problem for us since we use our cards very regularly. Even if we pay our full balance, the balance on the account is never zero since between the time the billing period ends and the time we get and pay the bill, we've already made new charges in the next billing cycle.

I do the same thing. I don't feel comfortable letting it built up too high so I make a few payments a month to keep it lower.

[cypher1]

CapitalOne: 20,000 - Default card, largest monthly bill was 8400 paid in full for kitchen remodel
Costco Citi: 15,500 - debating about downgrading membership as I hardly use that card
Chase: 15,500 - Never use, but longest open since early 20s.
Wells Fargo Home Project: 11,500 - Definitely need to close as I only used for 15month 0 interest financing for furnace/AC last year.

[disneysteve]

I do the same thing. I don't feel comfortable letting it built up too high so I make a few payments a month to keep it lower.

I only make a mid-month payment if we make an unusually large charge which is pretty rare, maybe once a year. When we were able to charge DD's tuition, I would pay it off a day or two later as soon as the charge posted to the account. Unfortunately, we can't do that anymore as they started charging a processing fee for credit card transactions. It was nice while it lasted.

[Attitudeofawinner]

This may not apply to you but for others, if you are trying to get your credit score up, a higher credit limit can help because it improves your utilization ratio. If you keep your monthly charges to about 10% of your limit, that looks better as far as your score is concerned than charging 25% or 40% or more.

Plus is gives lenders a "wow" factor if you have very high limits in relation to the amount you use. A lot of financial approvals done for homes, cars, personal loans, etc still have an actual loan officer making a decision based on what they see. I have three cards and all three have zero balances.

BofA $100k limit
Chase 90k limit
Citi $50k limit

[GoodSteward]

Plus is gives lenders a "wow" factor if you have very high limits in relation to the amount you use. A lot of financial approvals done for homes, cars, personal loans, etc still have an actual loan officer making a decision based on what they see. I have three cards and all three have zero balances.

BofA $100k limit
Chase 90k limit
Citi $50k limit

Are these business cards? I am not so sure this isn't a troll. How in the world do you get this high of a limit? I thought you hit a point where you just get an Amex with no limit.

[disneysteve]

How in the world do you get this high of a limit?

All depends on your income and credit history. Tom posted that his limits total about 120K. It's certainly possible for someone to have more than that if their circumstances warrant it. I only posted 2 of our cards but we have some others also so our total available credit is right around 100K and we really don't earn all that much. There are plenty of people out there making 2 or 3 or 5 times more than we do.