How much has your credit card limit increased?
For one of our audience members, by about 300 percent.
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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