Loan Info Search - Q&A: credit limit

Question: #6: How bad will going over my credit limit affect myscore?
I have a Visa Card with Bank of America with a limit of 700.I recently went over my credit limit twice within about a month period. (However I am constantly checking my account balance and making payments when I get money)I know it is not good to even have this amount of debt and that I should stay at 30% of my credit limit. I am working to completely pay off this card and am no longer using it. How bad would you say my credit score may have been affected? - asked by Sara C

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Question: #8: what is the maximum credit limit of mastercard?
Im planning to get myself a new credit card through mastercard and i want to know the maximum credit limit of mastercard. Mastercard people wont give me a straight answer, thats why im asking you guys. Hope you can help me. - asked by crosshair

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Question: #10: Should I up my credit limit on my credit cardsbefore or after I buy my home?
My limits on my credit cards are low and I would like to up there limit but im about to buy a home. Im afraid after the mortgage shows up on my credit my credit card, They will not up my limit due to the new mortgage. So raise the limit now or after? - asked by Jeremy D

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Question: #12: How do I request an increase in my credit limit?
I just found out that keeping my credit debt percentage at 25% of my credit limit helps my credit score. I have a $500 credit limit and would like to spend up to $250, so I'd like to upgrade my credit limit to $2000 to keep my credit debt below 25%. Is this a good idea? - asked by Melissa P

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Question: #14: How much do you have to earn to get a credit limitabove 40000 if you have excellent credit?
What is the formula for calculating how high your credit limit should be? And by 40000 I'm referring to all credit cards, not just one. Although it would be interesting to know how much you have to earn to get one credit card with a 40K limit. - asked by Truth Seeker 576

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Question: #16: Is it possible to put money into my credit card toraise my limit?
I need to raise my credit limit in order to buy a laptop online. i've already tried calling the credit card company but they are not able to raise enough credit limit. is there anyway i could put money into my credit card to raise my credit limit? thanks. - asked by ★ Lansing ★

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Question: #18: How can I get a credit card limit raised?
I called bank of america, they said they cannot raise my credit limit because I called and they said they cannot because I make $1200 a month. I spend my own card for my company and I only have $400 left to spend. How can I survive for the incoming months? Is $1200 a month a problem? - asked by genesisv8man

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Question: #19: Should I call the Credit card company to reduce mycredit limit?
After several years of CC debt I finally made it a point in 07' to pay them off. So I wrote a $12,584.63 check (that hurt) to Visa to clear the remaining balance. The limit on this Visa was $16,000.00. Two weeks after the check was sent and applied to my account I received a letter from Visa stating ‘congratulations we have raised your credit limit to $23,000.00'. I don't want/need that much credit and I am not sure if by keeping that limit helps or hurts my credit score or if I need to ever to apply for credit somewhere else if that will raise a red flag. Any adive of suggestions? - asked by Indy_man

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Question: #20: How can I find out what a credit card's creditlimit is before I apply for it?
I am looking at several credit cards, but the most important factor to me is the credit limit. Is there any way to find out the limit before I'm actually approved for the credit card? - asked by Michelle B

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Question: #21: When you pay off a credit card is it better toreduce the credit limit or close the account?
I've heard that once you pay off a credit card you shouldn't close the account to keep a good credit score. I've also heard that even though one pays off his credit card reducing the credit limit is also not a good option for keeping a great credit rating. What is the best way to handle this situation if you don't really want the card around to prevent you from running the balance up, but also don't want to hurt your credit rating. Is there any way to find out what exactly affects one's credit score? Examples: Let's just say a website or book states something like filing for bankruptcy subtracts XXXX amount of points from your credit rating. Defaulting on credit card payments for XXX amount of months subtracts XXX amount of points from your credit rating. Paying off federal student loans adds or subtracts XXXX amount of points from your credit rating. Also is there anywhere that states how long certain things stay on your credit report? - asked by radioactive_babywipes

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Question: #22: What is my likely credit limit on my first creditcard?
I'm looking to get a credit card here soon to start building credit and was wanting to know how much someone that has no credit history whatsoever is looking to get in credit limit. I know it depends on bank and what not but what is an average for someone in my position? - asked by Raul

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Question: #24: How will low credit limit effect buying a car?
I know that i have good credit history. my score is about 700 but my credit limit is only one thousand. I just recently got a new credit card that offered a limit of 2900. I am worried this low limit will effect when i buy a new car. Should I worry? What do you think my apr will be if i give a downpayment of 2-3k for approx 15k car? thanks in advance! - asked by pinacolada

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Question: #26: If you request a credit limit increase on a creditcard, and its declined, does it effect your creditscore?
If you request a credit limit increase on a credit card, and its declined, does it effect your credit score, or anything?Thanks. - asked by Joel

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Question: #27: Is it good to have a high credit limit to buildcredit?
I am 23 and looking to purchase a home exactly one year from now. For the past two or so years I've had all utility bills for a normal home in my name. Not once has any one of them been paid late. I've also had a credit card with Discover for about 3 years and I have a Lenscrafters credit card that was used once and then paid in full. Again, absolutely no late payments, although the most I've ever had charged on the Discover card was about 700 dollars, which was paid at the end of 2 months.I have a Master's degree and $12,000 in student loans that I will begin to pay off in November.My question is what is the best way to build my credit until I shop for mortgages? My credit card limit is only $1800. Should I ask for a higher limit and still carry my $0 balance with it? Does it matter?Also, any tips you may have concerning credit and ways to make it the best it can possibly be would be very appreciated.Thanks! - asked by Elizabeth S

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Question: #28: When should i ask to increase my credit limit?
I'm 30 and just got my credit score up to the mid 70's after 8 years of hard work. (college credit cards destroyed my history) I only have college loans showing on my report of 23k which are in good standing for 3 years now. I've applied for a cap1 card and am waiting to get approval to improve upon it by paying the bill every month. Do any of you use capital one? If they approve me for the platinum, afer how many months of being a "good credit card user" can i apply for a higher limit?Dear Scott,College was 10 years ago. I've grown, matured and become much more responsible. I am not heading into the wrond direction by wanting to increase my credit score. I do not want to go into debt, i want to use a credit card to my advantage by using it to pay necessities every month which i know i will pay off the balance every month. The reason I want to increase my score is that I want to buy a home in the next few years. Next time you answer a question, don't assume things. I'm very proud of what I have done and what I intend to do.I don't have debt. I dont want to get into debt. I simply want to use a credit card to advance my score and record to help me get the best interest rate i can for my first home... which i am doing by MYSELF. Thank you. -N - asked by Queen Nefertiti

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Question: #29: Is it bad to have a credit card balance that isalways close to the limit?
I have only one credit card, and it is the only credit card I have ever had. I am a college student. The card has 17% APR.I have a credit limit of $1000 dollars, and I tend to only pay $100 dollars a month, and then spend again on it. So I'm always very close to the limit. Someone recently told me that this is bad for my credit. Is that true? - asked by kalokerikoritsi

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Question: #30: I just just applied for a capital one credit card,how do I show proof of my credit limit to creditbureau?
I just just applied for a capital one credit card and did not know that they don't report your credit score to 3 major credit bureau, if I did know then I would of not applied for Capital One. So how do I notify and show proof to the 3 major credit bureau what my credit limit is for Capital One? So I don't have to risk lowering my credit score? Does anyone have any hints about Capital One? - asked by azkoolchik

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