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How much credit can i have |
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Date:
February 14, 2007, 4:40 pm |
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How much credit can i have |
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Answer:
Credit limit is a reflection of how a particular credit card company gauges your credit worthiness and your likeliness to charge away on their card. Different credit card issuers can have a different view of their creditworthiness. Thus one can look at your credit record and offer you a card with a $5,000 credit line and another issuer might offer you a card with a $10,000 credit line. In general, the better your credit, the thicker your credit lines tend to be. Usually you can learn about the approximate amount of the credit limit from terns and conditions of the cards you are interested in. (Only credit company can tell you exactly what your credit line will be, as much depends on your credit conditions).
In case of line increase programs you should be careful and think twice before viewing a credit line increase as a signal to spend. Credit card issuers don't know your financial situation. They're looking at whether you've paid as agreed. Only you can determine if you can afford the additional payment and, probably, the additional debt. Thus it’s necessary to take into consideration your ability to pay and not overdo with credit lines. |
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