Quote:
Originally Posted by OsTornado
Your limit is mostly going to be determined by your income and credit score. It depends what rewards you are looking for and where you spend your money. I personally have a variety of hotel cards, airline cards, and cashback cards that I use to maximize 5%+ categories, as well as receive signup bonuses for them. You also receive upgraded status with some of them. It really depends on what you want the rewards for. Give us a few more details about where you spend your money, why you might need a higher limit, and what you want in a rewards program, and we can suggest some different cards for you.
Well, this mostly came about because I had 2 primary cards; one low limit (about 2.5K) with a 7.25% interest rate that I use to pay for *everything* on and a second one with a 15K limit and a much higher interest rate. The second card is going away due to divorce terms and conditions, and I need something to replace it as my large purchase/emergency card and to offset the coming 'drop in available credit'.
I'm not opposed to getting another card for day to day purchases, as I put almost everything on a credit card and pay it off twice a month. Since I'm not earning cash back or points as it is, it might make more logical sense to switch and get rewards. I don't travel much, but I put gas, groceries, auto-bill pay, eating out, theater, etc all on one card. I don't use cash unless it's a small store or it's a large purchase I can get a good discount on by showing up with cash in hand.
My credit score is very very high. Well over excellent and just shy of the 'let me get you anything' range. Just went though a refinance, and it was nice to have the bank pay large chunks of the cost, based on that alone.
I know I'm not using credit in a way to max rewards and cash back, so I though I would ask the people who seem to have it figured out!