(Closed) Need help with a money question…

posted 7 years ago in Waiting
Post # 3
Member
3182 posts
Sugar bee
  • Wedding: May 2012

I’ve never had that happen and don’t know much about it but it seems like since the bank generally tells you what your credit limit is when you get the card it would be within their discretion to raise (or lower) it.  I would think that raising it would be a good thing though because it improves the debt/available credit ratio that credit reports look it.

Post # 4
Member
5786 posts
Bee Keeper
  • Wedding: May 2011

They can raise it without you asking them to, I’ve had this happen with a credit card before. They’re probably just hoping you use it and start paying them interest.

Post # 5
Member
1046 posts
Bumble bee
  • Wedding: December 2010

I’ve had my credit limit go up automatically over time.

Post # 6
Hostess
18646 posts
Honey Beekeeper
  • Wedding: June 2009

My credit card limit goes up a lot on it’s own.  Most likely, they saw that he was good with his card and probably checked his credit score and saw that it was good too.  I know it seems weird but it’s a good thing.  Just keep putting a small amount on the card and it will look better for his score because his debt to credit limit ratio will go down.

Post # 8
Member
1940 posts
Buzzing bee
  • Wedding: July 2010

If he is currently using 12-14K of the credit line, I would be concerned about the amount of money you’re paying in interest, especially if he is looking to finance the engagement ring via the credit line.  I obviously don’t know what you’re salaries are, but for me, having that much on credit would be concerning.  I’m sure you guys will make the decision that’s best for you both though 🙂

 

Post # 10
Member
588 posts
Busy bee

They raise your credit limit without telling you a lot, they want you to spend more of their money rather than your own.

I never went over like $100 on one card, then they tripled my limit hoping I would spend more.

Post # 11
Member
2894 posts
Sugar bee

Mine goes up automatically periodically. I’ve requested an increase a couple times for the sake of it looking better on my credit score. But I wouldn’t worry too much. A call to the bank wouldn’t hurt either. 🙂

Post # 12
Member
10367 posts
Sugar Beekeeper
  • Wedding: September 2010

My credit line goes up periodically as well. But, we don’t actually use it – only use credit cards when we can pay them off at the end of the month. If we had $12-14000 in debt, we would not be purchasing jewelry with the rest of the balance!!

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