Have you ever thought about that? The amount of money that’s available to you with just a swipe of a card? It’s really freaky. I’m not sure what the average credit limit people have these days, but I’d be lying if I wasn’t curious to find out (hence, the reason for this post!).
If it’s any indication of what one of my blogger friends found out – who got to this post first, that turd bucket – the numbers def. vary. Some commenters had a few thousand to their name, while others had upwards of $150k! Of course, there are a ton of variables that come into play: age, credit history, overall net worth (I think?), so it’s only natural we have varying limits. Plus, a lot of people don’t know you could sometimes up your limit with a quick phone call! You might not WANT to if you’re a spendy little mcspendster, but if you’re trying to work the credit score #’s (by lowering your debt to credit ratio) it’s always an option you have. Just don’t tell our friend Enemy of Debt, he can’t stand credit cards!
Anywho, here’s all the cards we have in our family – and don’t think this is some sort of competition or anything, it’s just for fun :) And also for future reference…like if you go on a game show or something.
- USAA Cash Rewards card – $30k (my card)
- USAA “World” Cash Rewards card – $25k (house card)
- The Wifey’s card – ? (she’s sleeping right now, I’ll have to edit later…)
We’ve got about $55k between the wife and I – up from $15k before we called to get it raised. I can’t fathom a time when we would actually NEED thousands like that (knock on wood) but it’s somewhat comforting knowing it’s there. If only because of the “credit crisis” we’re in.
Your turn. How many cards & total credit do you have in the hopper? Let’s see if we can beat out Bargaineering‘s extremes of $0.00 for the least (aka no credit cards at all), and $185,500 w/ the most!
Bonus tip: Find a good "balance transfer" offer to help pay off debt faster!
If you’ve been making payment after payment (on time) and still haven't been able to get your debt under control, snatching up a good balance transfer credit card offer may be the ticket to try. That’s where in order to gain your business - credit card companies will let you transfer your existing debt to a new card and let you pay ZERO PERCENT interest on it. Saving you tons every month!
What's the catch? Usually balance transfer cards charge a fee (around 3% of your debt balance) to let you transfer your balance to their 0% interest offer. But we've found a great credit card that will let you do a balance transfer absolutely free. Click here to learn more and see if you qualify!
PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.