The credit card challenge

[Wafer_Thin_Ham]

What's the upper limit on your credit card.

I'm intrigued to see what others have.

I'm a 20 year old graduate, and have a £9,400 credit limit on my card.

What do you lot have?
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[Sparks!]

23, don't have one, i win
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Current Toys: 06 Yamaha WR250F | Nissan 350Z GT | Tech 4 Homes

[trevoriv]

25 years old - home owner with 3 cards, limits are £1,100, £1,500 and £4,300.

Also have a £1,500 overdraft.

I'm so skint.
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Past: '96 Thundercat, '02 ZX636R (A1P), '58 KTM 690 SM LC4 Current: '06 ZX636R (C6F)
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[hellkat]

I'm not allowed one any more

Not been allowed for years, LOL

... for the second time in my life


hellkat
badder than a Michael Jackson dvd on fast forward
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Not nearly as interesting in real life.

[Tonka]

Everytime they increase the limit on mine they get a stroppy letter from me telling them to put it back to where it was!

I know my limit (£4k) and don't need temptation to lead me astray!!
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'The core of a man's spirit comes from new experiences'
Suzuki SV650S (Clean); Yamaha XT250 Serow (Dirty)

[Dr. DaveJPS]

they took my last one off me, cause i didn't use it enough
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[t121anf]

did have £8k but got asked if i wanted to split it to a 2nd card, so now its 2 £4k ones.

better for balance transfers etc.

not sure if i had larger before my debt problems

[The View Askew]

I wanted £1500 to boost me to buy a car from a dealership I had been looking for privately for ages, and could not find, I don't regret it really because It had a 6 month interest free purchases offer from Paypal.

Bought the car using all £1500 limit I asked for +cash, paid it off over 6 months lazily, still have the card though, so the temptation is always there, if quelled so far.


I would not get a higher limit or use the card to buy things if paying interest, as when you round money to a year, you see the drain on your annul income, what a mug's game.


Credit cards fuel retail, if you actually have the money and patience you can get your items for very good money elsewhere.
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"Do what you always did, get what you always got"

[Suitor_Stu]

Just for interest's sake (and cause I'm being a nosey bugger) how many who have replied actually HAVE their card full at this limit? I ask because I'm thinking of getting a credit card to help pay for a few things (mainly silly things like a bed and sofa for my unfurnished flat) before my first paycheque comes through at the end of August. I however will taking advantage of the introductory offer of 0% on purchases for first 3months (and also a healthy discount on my phone bill too - so no prizes for guessing who I'm looking at), promptly paying this off then destroying the card because I can't let myself get into paying off a loan at over 15%APR!

Anyway in answer to the OP's question, haven't found out my limit yet but I will be a 23yr old Employed Graduate with 1 small personal loan and overdraft so can only guess it'll only be a couple of grand, but like Tonka I don't need any temptation for it being any more!

[SlimRick]

Limits? Limits are for peasants

[.....]

£1000 - Absolutely the highest I ever want it to go, any attempts to raise it are stopped by me. I want to be able to clear it every month if needed. If I need to spend more I can load money on to it beforehand.

Credit cards are truly evil but very useful because of their insurance that comes with purchases and tbh I would find a large limit too tempting. Being in debt is a miserable experience - when I see programmes featuring people in their 20s tens and tens of thousands of pounds in debt it makes me cringe.

[Sparks!]

[WildGoose]

1 credit card, had the same limit of £2900 since I was 17. Has got me into trouble in the past, but not anymore, it stays cleared these days.

Its too useful to get rid of, good when you need a massive amount of buying power on the spot, or when your fridge packs up half way through the month and you haven't got the cash to sort it out.

I use it when I don't particularly fancy trusting the vendor with debit card/bank details.

I use it mostly for buying food from petrol stations as I never carry cash anymore really, and petrol stations are notorious for being dodgy so at least i'm protected with the credit card.

Have paid for a lot of bikes with it over the years.
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So in other words, he stopped you for being flagrantly in posession of a motorcycle in direct contravention of the Hippies, Darkies and People Whose Face I Don't Like The Look of (Police Powers) Act. 1976

[The View Askew]

[Tonka]

It's very rare that I don't clear the balance off each month. I like to think that if the worse happened, I could clear it and not owe anything.

I really use it, as Joe has said, for online stuff where I want the added consumer protection. I did buy my bike on it, but only so that I'd get 6 weeks to pay it off interest free, as it meant I could leave the amount in my savings account that had a good rate back then (over 6%) - a whole 12 months ago, those were the days!
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'The core of a man's spirit comes from new experiences'
Suzuki SV650S (Clean); Yamaha XT250 Serow (Dirty)

[Clanger]

I don't have one. In fact, I have NO debt whatsoever...
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Be who you are and say what you feel, because those who mind don't matter, and those who matter won't mind - Dr. Seuss

[rs125tuning]

A credit card is a good way of tracking your expenditure, I use kublax.com and it helps me to budget etc.

That said, I only have a 500 squid limit and after 4 years of uni I'm not in a great position with debt...although all of it is interest free overdrafts or low-interest student loan.
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ApriliaRS125tuning.com

[JonB]

I have a £1000 student overdraft 0% until July 2011, will be automatically raised to £1500 on July 15th. Am overdrawn by £998.

£1250 Overdraft facility from Nationwide, am overdrawn by about £100.

Have £2500 limit on a credit card, but have no associated debts with it. Looking to scrap the CC in the next month or so. Will probably look at getting the Tesco Clubcard CC as they are doing a 0% for 12 months deal. Will only ever use it for emergencies like Joe for example. I have the willpower not to use it, have been brought up by my parents to save for material items. The only reason I am so overdrawn was because I had to pay rent, books and food on £3500 a year. All of which was student debt and barely covers the essentials.

As soon as I get a job am looking to pay off about £200 a month on my overdrafts, would like to have it cleared by Christmas, if not, just after.
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Be careful whose advice you buy, but, be patient with those who supply it. Advice is a form of nostalgia, dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it?s worth.

[Silver]

I have two (from when I went travelling - insurance, if you will). I've had them years and never requested the limit to be increased, but one is £10,800 and the other is £10,400.

£5,000 overdraft limit too

All are clear.

[Harold_Shand]

Got £5k on a card and £2k on an overdraft if I want. Haven't used them for a few years now, like many others, got into bother early twenties took years to get back on top and now live within my means.

Still, nice to know it's there, just incase, emergency flights or car hire, shit like that.
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BCF's 6th favourite poster 2009-2010

Harold_Shand's theory might be the best explanation.

[trevoriv]

My old man played the old credit card game back in the day moving debt from interest free card to interest free card every year.

Quite worringly when he had cleared the debt and looked at all his credit cards he had a total credit limit in excess of £250,000.
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Past: '96 Thundercat, '02 ZX636R (A1P), '58 KTM 690 SM LC4 Current: '06 ZX636R (C6F)
Mudskipper wrote: Someone just has to sig that...

[ncrn]

I'm 20, I've not had a credit card and to be quite honest I'm not sure I want one.

I have a £650 overdraft available to me, that's it.
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Past: 55 Sym Jet, 91 ZZR250, 03 NSR125R. Present: 97 ER-5.
https://www.nsr125.co.uk - NSR Owners forum.

[Jrod]

When I was younger I juggled them and ended up with about 7 cards @ 20

I only have one now and I usually clear it at the end of the month if I've used it which isnt often.

[Ant]

i cancelled mine when it got to 11k and they wouldnt reduce the limit, even though i never left a payment over 30 days (to avoid the intrest) and the most that ever went on there in a month was around £1500
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04 ZX10R ~

[Ariel Badger]

Only common people use credit cards, the rest of us pay cash.
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