FastAcura

I just increased a couple of credit card limits on a couple of my credit cards (From 2500 to 5500 and from 1800 to 5000) Is this good or bad for the credit rating? If I'm not mistaken, having a lower balance to limit ratio betters the score...

iTimmy

higher credit limits come with age, I've never requested a credit increase and seldom charge more then a hundred dollars of shit a month total. Yet some how the limits on my 3 cards are 15k, 12k and 24k, I just got my credit rating because I am planning on purchasing a home and my fico score was high 780's, the other two were high 790's. There are so many factors that determine your credit rating, don't waste a lot of time trying to manipulate a higher rating. Use your head and don't make stupid moves and you'll be just fine.

Eggplant-EX

what is the highest credit you can get on a CC?

iTimmy

AX black, no limit

NFLblitze1

is that like having a GOLD CARD?

iTimmy

Not at all, its the infamous American Express Black card, above there ellusive platinum. The AX black card is only offered, you can not apply for it, it is delivered in a velvet lined case and is activated the first time you use it, it has many benefits but its membership also includes an annual $2500 fee/card. Typically its issued to business owners, so you get two, a personal card and a corporate card.

edit- I just noticed your from Morristown, I used to hang out there with a girl I used to date from Sparta, haven't thought about that town in a long time!

F900

1st of AMEX black is not a credit card, its a charge card. There 2 different types of cards....charge card > credit card


Eggplant....

I have a few credit cards that have a credit limit between 25K-50K....on my AMEX plat charge card its $150,000 Credit limit, i could probably get away for up to $175K

There are some cards that offer up to $250K, I know a person who has 220K credit limit on one card.

Chr8808

iTrader: (1)

I thought all "charge cards" (real Amex cards - not the optima ones) had no "limits". Black cards just have special "benefits" for carrying it, like paying the $2500 annual fee and i think having a personal "shopper/advisor guy on call?"

iTimmy

I'm going to go out on a limb here and say no member of an Acura site has one to share with you its benefits. If it were a Bentley forum, maybe...

Honestly I would turn it down even if it was offered, I charge so little the $2500/ year fee is more then I typically charge in a year.

Chief F1 Fan

It's fine just as long as you don't run up the limits. Your debt to credit ratio is what determines (in part) your FICO score.

F900

All of AMEX's charge cards have whats called an Exposure Limit....its based on spending history, credit score and income and how much $$$ you have in the bank.




Here is just a story from a AMEX member from other board site...and shows how AMEX is getting.... this is happened to ALOT of people....

So much for no Credit limit......these days you have to be real carefull with AMEX.



"""""Quick story...

Yesterday I was traveling home from a terribly stressful trip. Spent some time in South Florida visiting with family and doing a bit of condo shopping as I plan to eventually relocate there and I'd like to purchase a place as a second home.

In any case, I didn't really charge all that much on my Amex Gold while I was away -- a few thousand, which is a little higher than my normal spending, but not by much. Well, I was driving myself home yesterday from the airport and I stopped to get gas.... THEY DECLINED MY CHARGE. I was livid... I went in and assurred the clerk that it must've been a mistake, that my card can't be declined ... they tried again, and DENIED!

Well, I always carry a backup, especially with travel, so I paid with my Citi PS and pumped. I called American Express on the way home and laid into them. Apparently the issue was that my spending was slightly higher than it normally was, so they put a temporary freeze on the account. According to the representative, the only way to reinstate my charging was to pay the account in full and that she could take a payment over the phone. I told her that wouldn't work, that I don't have a cheque book with me -- Oh, don't worry, we have your banking information on file and I can initiate the draft of $4,149.57 from your BancFirst account. Uhhm...

NO.... I told her to go ahead and draft the funds, but not to bother reinstating the ability to charge that she could close the account. I was so upset. I always treated the card like a safety net -- a way for me to be able to spend what I need to spend.

Well, to add salt to the wound -- I logged onto the website this morning to find that my Amex Gold was closed and had a small balance from some charges that evidently hadn't posted. I also found that American Express DECREASED the credit line on my Blue account... I called even angrier this time and escalated to a supervisor. The supervisor was wonderful and really helped calm me. She apologized up and down for the Gold problems and said that it was handled inappropriately. She offered to repoen the account and apply a $250 statement credit to my account as a way of apologizing for the situation. I accepted. Regarding the line of credit decrease, this was evidently because they just realized that I had about a half dozen Experian inquiries about 4 months ago while I was mortgage shopping. They cited a review of my credit bureau as the reason for the decrease, and the thing they didn't like were the inquries. She said that she forwarded it to her superior for a manual review and gave me her direct number and extension to call back Tuesday for status.

Any other recommendations? They took my credit line from $26,600 to $3,900 -- just slightly higher than my current balance of $3,700. I thought it was a HUGE slap in the face"""""""""""