Quote:
Originally Posted by pylon
On a soft inquiry, they offer me a $50,000 unsecured LOC and ask me if I want to bump my Visa limit to $20,000. I said yes to the LOC, but no to the Visa bump lol. Nobody that doesn't own a big business, needs more than a 10k limit on a single card IMHO.
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I don't get this. Why should you only have a $10k limit on a credit card? My limit is $27k, but I pay the balance off each month. Most of the time it doesn't get past $2,000 in monthly charges, but now that I'm building a house, it's hit $25,000 a few times. I have other cards as back ups, but it's so much easier to put everything on one card instead of spreading it out. I don't have a need for a $50k LOC, and the interest on those is higher than a HELOC.