Average Total Combined Credit Card Limits
Author: GuEsT
Posted: Sat Jun 19, 2004 11:50 pm
Post subject: Average Total Combined Credit Card Limits
What is everyones COMBINED UNSECURED credit limits (credit card limits and personal UNSECURED lines of credit?
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Author: guest
Posted: Sun Jun 20, 2004 1:26 pm
Post subject: Average Total Combined Credit Card Limits
I have 5 credit cards:
limits are:
20,000
12,500
12,000
7,000
6,500
and 1 personal line of credit unsecured with MBNA 25,000
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Ray
Posted: Sun Jun 20, 2004 1:37 pm
Post subject: Average Total Combined Credit Card Limits
WOW! Thats a lot of credit. I just have a few questions. Why do you need that much credit. Are you using any of them? What are your balances? Do you have a home? What is your income level and credit rating? Okay that was a lot of questions but man I have one card that is 4000, one with 1100 and one with 550. I couldn't imagine having all those accounts let alone if they were maxed out or even half way.
Do you have a business or something that would warrant all of the credit?
Thanks!
Author: guest
Posted: Sun Jun 20, 2004 1:49 pm
Post subject: Average Total Combined Credit Card Limits
I owe about 6K.
I do NOT own a home.
Scores are 700-740
I AM looking into the possibility of using my credit to open a business though.
Anyone have any thoughts on this?
Author: NightStar
Posted: Sun Jun 20, 2004 3:04 pm
Post subject: Average Total Combined Credit Card Limits
I would stongly recommend that you get a business loan for that purpose and not use personal credit to start a business... that way if it goes south, you are not wiped out personally on your credit rating.
Also a lot of creditors opening accounts for small business will ask for you to sign a personal guarentee, which means if you don't pay, they will report the negative business account on your personal credit report. (American Express is very good at doing just that).
I am sorry, one of the guys here will have to help you on the combinding credit cards question.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sat Jun 19, 2004 11:50 pm
Post subject: Average Total Combined Credit Card Limits
What is everyones COMBINED UNSECURED credit limits (credit card limits and personal UNSECURED lines of credit?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: guest
Posted: Sun Jun 20, 2004 1:26 pm
Post subject: Average Total Combined Credit Card Limits
I have 5 credit cards:
limits are:
20,000
12,500
12,000
7,000
6,500
and 1 personal line of credit unsecured with MBNA 25,000
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Ray
Posted: Sun Jun 20, 2004 1:37 pm
Post subject: Average Total Combined Credit Card Limits
WOW! Thats a lot of credit. I just have a few questions. Why do you need that much credit. Are you using any of them? What are your balances? Do you have a home? What is your income level and credit rating? Okay that was a lot of questions but man I have one card that is 4000, one with 1100 and one with 550. I couldn't imagine having all those accounts let alone if they were maxed out or even half way.
Do you have a business or something that would warrant all of the credit?
Thanks!
Author: guest
Posted: Sun Jun 20, 2004 1:49 pm
Post subject: Average Total Combined Credit Card Limits
I owe about 6K.
I do NOT own a home.
Scores are 700-740
I AM looking into the possibility of using my credit to open a business though.
Anyone have any thoughts on this?
Author: NightStar
Posted: Sun Jun 20, 2004 3:04 pm
Post subject: Average Total Combined Credit Card Limits
I would stongly recommend that you get a business loan for that purpose and not use personal credit to start a business... that way if it goes south, you are not wiped out personally on your credit rating.
Also a lot of creditors opening accounts for small business will ask for you to sign a personal guarentee, which means if you don't pay, they will report the negative business account on your personal credit report. (American Express is very good at doing just that).
I am sorry, one of the guys here will have to help you on the combinding credit cards question.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 10:42 AM
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