How much has your credit card limit increased?
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How much has your credit card limit increased?
As aggressive banks continue peddling plastic, U.S. credit card debt is set to hit $1 trillion this year, according to the Wall Street Journal.
That number seems to indicate that Americans’ fears about spending are beginning to subside, nearly a decade after the Great Recession. We asked you whether your credit card limits have crept up, and how high. Here are some of your responses:
For some of you, by a significant amount:
@Marketplace my limit has been automatically increased by 300% in the past couple of years
— Jordan (@BassoonDude05) May 20, 2016
@Marketplace I’m the last year, my credit card limit was raised $15k and I haven’t used it.
— Cheryl (@gmrchick73) May 20, 2016
Others are proactive about shrinking those limits, or are being strategic about this whole thing:
@Marketplace My wife & I asked our CC company to reduce our limit to $4000 – after incremental increases from $2K to $20K
— one of many (@_d_a_v_i_n_) May 20, 2016
@Marketplace I think one has auto-increased my limit by 50% and offered more; I just use the extra limit to dilute the balance/limit ratio.
— Stephen Beaver (@beaverlabs) May 20, 2016
One Twitter user doesn’t even have a balance for limits to be an issue. Attn: banks — Don Johnson is onto you.
@Marketplace fortunate to not carry a balance. It’s been easy to get limit increases, I think, to entice us to spend more and have balance.
— Don Johnson (@DonJ2001) May 20, 2016
And some of you are just dipping your toes into this crazy credit card world for the first time:
@Marketplace 27 y/o. Just got my 1st card because I have never needed one(use debit). Only got it cause I have no credit score. 2k limit
— Phil McCoy (@PhilRealMcCoy) May 20, 2016
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