# Credit Card limits

**URL:** <https://forums.speedlife.net/t/credit-card-limits/60134>\
**Category:** NYSpeed Off Topic\
**Created:** [December 22, 2008, 8:05am UTC](https://forums.speedlife.net/t/credit-card-limits/60134 "2008-12-22T08:05:11Z")\
**Posts on this page:** 20\
**Page:** 1

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**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\
**Post date:** [December 22, 2008, 8:05am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/1 "2008-12-22T08:05:11Z")

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OK, Over the summer I got a discover card. It was my first card and they gave me a huge credit limit, $5K. I have little to no credit and wanted to start building.

Is having a really high limit on that card really bad? I recently just got another card, and the limit is very low. I am thinking that huge limit on the discover card might actually be hurting my credit.

What do you financial experts think? Should I call Discover and have them lower it to $2K? I don’t really need that high of a limit. I never even hit $1K.

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**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\
**Post date:** [December 22, 2008, 8:08am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/2 "2008-12-22T08:08:09Z")

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Paging sureshot!..

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<div class="post-metadata">

**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\
**Post date:** [December 22, 2008, 8:09am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/3 "2008-12-22T08:09:26Z")

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yeah, I was gonna ask him outside the forum, but I thought that others here could benefit from it, so I decided to post it.

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**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\
**Post date:** [December 22, 2008, 8:10am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/4 "2008-12-22T08:10:32Z")

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No!  
You want available credit as high as possible and utilized portion of it as low as possible. Shows you have self control and are not over-extending yourself.

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**Author:** ![newman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/newman/32/7569_2.png) [@newman](https://forums.speedlife.net/u/newman)\
**Post date:** [December 22, 2008, 8:11am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/5 "2008-12-22T08:11:11Z")

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Lol. between 2 cards i have 50,000 dollars of available credit.

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**Author:** ![Geehee](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/geehee/32/7238_2.png) [@Geehee](https://forums.speedlife.net/u/Geehee)\
**Post date:** [December 22, 2008, 8:12am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/6 "2008-12-22T08:12:12Z")

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> [@Joe](#):
>
> No!  
> You want available credit as high as possible and utilized portion of it as low as possible. Shows you have self control and are not over-extending yourself.

yea but you dont want to have like $100k available if you dont make a ton.

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**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\
**Post date:** [December 22, 2008, 8:12am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/7 "2008-12-22T08:12:24Z")

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Nice. So did you put the Lotus on credit to get a bunch of air miles? 😛

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<div class="post-metadata">

**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\
**Post date:** [December 22, 2008, 8:12am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/8 "2008-12-22T08:12:30Z")

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alrighty then, that is solved.

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**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\
**Post date:** [December 22, 2008, 8:13am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/9 "2008-12-22T08:13:32Z")

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> [@evolve](#):
>
> yea but you dont want to have like $100k available if you dont make a ton.

yeah, I make decent money, but I am not balling in dough. I also have zero debt.

I need to re-finance my car and get a “real” loan

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**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\
**Post date:** [December 22, 2008, 8:16am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/10 "2008-12-22T08:16:07Z")

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yeah i had 30k available \<1% utilized throughout college with no job and ended up with a super high credit score for my age

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**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\
**Post date:** [December 22, 2008, 8:18am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/11 "2008-12-22T08:18:34Z")

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> [@newman](#):
>
> Lol. between 2 cards i have 50,000 dollars of available credit.

I’ve got one with a limit of 58k 😉

And the last time I ran a credit report it listed my high available credit to low actual debt as a positive.

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**Author:** ![newman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/newman/32/7569_2.png) [@newman](https://forums.speedlife.net/u/newman)\
**Post date:** [December 22, 2008, 8:19am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/12 "2008-12-22T08:19:16Z")

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> [@JayS](#):
>
> I’ve got one with a limit of 58k 😉
> 
> And the last time I ran a credit report it listed my high available credit to low actual debt as a positive.

Yeah. same here.

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<div class="post-metadata">

**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\
**Post date:** [December 22, 2008, 8:20am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/13 "2008-12-22T08:20:24Z")

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> [@Joe](#):
>
> yeah i had 30k available \<1% utilized throughout college with no job and ended up with a super high credit score for my age

ok cool, just wanted to make sure that my salary wasn’t going to have a negative effect on that.

I need to re-finance my car now and I think I will be set on a good path for good credit.

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**Author:** ![newman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/newman/32/7569_2.png) [@newman](https://forums.speedlife.net/u/newman)\
**Post date:** [December 22, 2008, 8:22am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/14 "2008-12-22T08:22:20Z")

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Where are you looking to refinance through?

Western division FCU has a 5.25% rate right now…

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<div class="post-metadata">

**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\
**Post date:** [December 22, 2008, 8:25am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/15 "2008-12-22T08:25:54Z")

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is it an online/nationwide CU or are they in local in NY?

5.25 would be a big improvement

edit: yeah, looks like a WNY local place

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<div class="post-metadata">

**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\
**Post date:** [December 22, 2008, 8:39am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/16 "2008-12-22T08:39:21Z")

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There are credit unions everywhere though, and that’s usually where you’ll get the best rate. I don’t know if it’s correct, but I’ve heard that not all credit unions report to the big 3? Just something to verify if you’re refinancing to build your credit.

My truck is financed through a credit union and it IS reported on my credit scores. :gotme:

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<div class="post-metadata">

**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\
**Post date:** [December 22, 2008, 8:42am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/17 "2008-12-22T08:42:24Z")

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yeah I would like it to be reported. I think I will see what [lendingtree.com](http://lendingtree.com) has to offer and go from there. If I can get it at ~5.5-6.5% then I will go with that.

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**Author:** ![chino](https://avatars.discourse-cdn.com/v4/letter/c/bcef8e/32.png) [@chino](https://forums.speedlife.net/u/chino)\
**Post date:** [December 22, 2008, 8:50am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/18 "2008-12-22T08:50:49Z")

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high available credit is good to a point, its high balances that hurt you 😛

i don’t even know what the limit on my amex is, i think the most i’ve ever had on it was like 18K (bought a shit ton of computers for work, not personal debt… lol)

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<div class="post-metadata">

**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\
**Post date:** [December 22, 2008, 8:54am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/19 "2008-12-22T08:54:55Z")

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> [@Fry](#):
>
> There are credit unions everywhere though, and that’s usually where you’ll get the best rate. I don’t know if it’s correct, but I’ve heard that not all credit unions report to the big 3? Just something to verify if you’re refinancing to build your credit.
> 
> My truck is financed through a credit union and it IS reported on my credit scores. :gotme:

[http://www.nyspeed.com/forums/showpost.php?p=784706&postcount=53](http://www.nyspeed.com/forums/showpost.php?p=784706&postcount=53)  
[http://www.nyspeed.com/forums/showpost.php?p=786449&postcount=58](http://www.nyspeed.com/forums/showpost.php?p=786449&postcount=58)

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<div class="post-metadata">

**Author:** ![Treads4Heads](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/treads4heads/32/7416_2.png) [@Treads4Heads](https://forums.speedlife.net/u/Treads4Heads)\
**Post date:** [December 22, 2008, 9:16am UTC](https://forums.speedlife.net/t/credit-card-limits/60134/20 "2008-12-22T09:16:02Z")

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Maybe this is a dumb question, but how would one start building credit if they have none to start with? It is probably a good idea to start since I graduate in a year but have no idea where and how. I still think cash \> \* but the rest of the world doesn’t ☹

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