Chevy Trailblazer SS Forum banner

1 - 20 of 26 Posts

·
High and Tight!!!
TrailblazerSS
Joined
·
2,959 Posts
Discussion Starter #1
Do all credit cards start out with a $500 limit? Seems like every time I think about getting one they come back with the $500 crap. I just wanted to hear what you guys have experienced. I have a good credit score, dont have a lot on my credit, and make pretty damn good money. Why do they always say $500?????? :wtf:

Its kind of insulting... $500 wont do shit for me and then they want me to wait a year before they will change the limit. :doh:
 

·
The Lurker
TrailblazerSS 06
Joined
·
13,844 Posts
I don't use them..........sorry I can't help ya. If you make decent $$ just use your debit card, that's what I use........Of course..........Cash is KING! I'm doing mods to my truck as I can afford them.........Save some $$ to purchase, then I buy. It takes longer, But I owe nobody!!
 

·
Registered
TrailblazerSS
Joined
·
510 Posts
When I first started out, my credit card limit was $500.00. then as i made payments on time kept a little balance on them my credit limit got raised to 3500 then to 7k then to 14,000.
 

·
Registered
2008 AWD 3SS
Joined
·
947 Posts
My credit union started me at $500 which I requested. 2 months later I asked them to up it to $1000 and they did... Might depend on the bank you go with?
 

·
Registered
TrailblazerSS
Joined
·
449 Posts
Sounds like you have a good score and a little credit, but not enough credit history.

Get the card at $500 and max it out. Use it to pay bills, buy gas and groceries.....everything, then pay it off at the end of the month. Do that a couple months in a row and they'll raise the limit.
 

·
Registered
TrailblazerSS
Joined
·
400 Posts
american express has no limit, that's why i carry it. best part it, you have to pay it off every month so it makes you be responsible about it.
 

·
High and Tight!!!
TrailblazerSS
Joined
·
2,959 Posts
Discussion Starter #7
Idk... I have 5 years of good credit history. :dunno:
 

·
Premium Member
Joined
·
1,116 Posts
I have various cards all much higher than 500 limit. I carry a ZERO balance on all of them.
 

·
Registered
Trailblazer
Joined
·
763 Posts
I don't know...Discover, Citibank and the local credit union all started my cards at 12-15K. My regular credit union through work just issued my first through thru them at 30K.

Never seen a 500 limit, seems like a waste.
 

·
High and Tight!!!
TrailblazerSS
Joined
·
2,959 Posts
Discussion Starter #11
Fuck you both! Maybe I should go to my credit union and see what they say. Im not gonna get the $500 card... thats just retarded.
 

·
Premium Member
Bet you cant tell
Joined
·
6,480 Posts
CC companies are scared to give out credit these days with all the debit out there from people not knowing how to use them and sticking the companies with the bill.

DO NOT pay off your credit card every month b/c that is not a sign that you will get a higher limit. all you have to do is have your payments made on time for the limit and it will go up every 4-5 months

AMEX is different so you cant compare what i said about paying it off even though you dont have to pay an amex off every month but then they will just charge you 1 million % finance charges.

if you can manage - fuck living CC rich as i have for the past 10yrs and im ok.
 

·
Premium Member
07,09 -3SS- Blk,Slv
Joined
·
5,400 Posts
It happened to me too. It's funny because I have over 15 years of excellent credit history and two cards with limits over $25k. I've had auto loans, student loans, etc, all in good standing, all paid off early. Last year Capital One sent me a card with a $500 limit that I called and told them I wouldn't even activate it and to close the account immediately. Sometimes it makes no sense as to how they come up with the metric to decide what your limit should be.
 

·
Registered
2006 TBSS LT AWD
Joined
·
512 Posts
Like stated above...

If you pay off the card every month you will be doing NOTHING for your credit.

You have to carry a balance... Most recommend less than a 3rd of the limit to do the maximum amount of good for your credit score.
 

·
High and Tight!!!
TrailblazerSS
Joined
·
2,959 Posts
Discussion Starter #16
I want a high limit card to do just that... I want to keep it around 10% strictly to add to my credit history. If I did that on a $500 card umm... hell thats less than a full tank of gas a month lol.
 

·
Premium Member
07,09 -3SS- Blk,Slv
Joined
·
5,400 Posts
Like stated above...

If you pay off the card every month you will be doing NOTHING for your credit.

You have to carry a balance... Most recommend less than a 3rd of the limit to do the maximum amount of good for your credit score.
:iamwithstupid:

The trick is to always have a balance that the credit card company can report to the credit agencies, but keep the amount of interest you pay to $0 or as little as possible. Paying interest does nothing for your score, but carrying a balance and making your payments on time will help your overall score.
 

·
Registered
TrailblazerSS
Joined
·
401 Posts
My first card was at $500 and then over the years they up'd it to $10K and it was a GM card. I didn't use it that much and always paid the bill on time, then the economy thing hit and they down my limit to half. They said I didn't use it so what would I care, I was like WTF. Stupid creditors.

Now I have Amex, which is better for me. I don't buy anything unless I can pay for it in full, and no there's no limit. :D
 

·
Premium Member
TrailblazerSS
Joined
·
2,655 Posts
I got a card when I was 18 with a 250 limit, 4 years later it's 8K but I never use that card cause it doesn't have any rewards, I just keep it open cause it's my oldest credit account. Funny story is I was helping my mom pick out a fridge at Lowes, she doesn't use credit cards and paid off her mortgage years ago, Lowes gave 10% off for signing up for a card, they denied for lack of history although her score is fine, with almost no history they approved me because I had recent usage. I guess the point I'm trying to make is they don't give you credit unless you use it. I make a habit of paying the full balance and only use rewards cards, so they're paying me to use their card and I pay no fees. If you need the card for things you can't afford, run away now.
 

·
High and Tight!!!
TrailblazerSS
Joined
·
2,959 Posts
Discussion Starter #20
Nah... I did that when I was 18. Sounded great at first... at first! :barf:

I have an $8500 limit on a jewelry card, but that is pretty much useless.
 
1 - 20 of 26 Posts
Top