Depends on you. If you have enough self discipline to handle a high limit without USING it, then a high limit looks better on your credit report. However, if you are one of those who will spend it if they have it, you need to keep your credit limit as low as practical, although this will lower you credit score.
by The Arbiter of common sense - 17 hours ago
better to have a high credit limit, because this gives you a better used credit vs. available credit limit ratio. however, the caveat here is that you must have discipline. if you feel that you will not be able to resist the urge to spend any and all money that you are being extended, than i would stick with the lower credit limit.
by infinite crisis 247 - 17 hours ago
the answer is tricky. high credit limits present a better percentage of credit available vs. credit being used but too much open credit could also hurt you because you have access to too much money. you have to find a healthy medium what i would do is check my fico score every 6 months to see if the credit starts affecting your score negatively
by chet - 17 hours ago
The higher limit a credit card company gives you, the higher you credit score is. HOWEVER, if you have too much "potential debt" based on your income, meaning the cards that you have all have really high limits, even if you don't use them, then this could have a negative effect on your credit score. I have a credit card (I got when I was 18) that I have purposely kept w/ a $500 limit. That way I will have a long credit history with something I can charge and pay off every month. I have a couple with higher limits for emergencies, but it is best to keep a lower ratio of debt to equity, even if it is just potential debt.
by *~♥champ♥~* - 17 hours ago
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