A) that laundry thing is gross B) Actually, having a higher credit limit is a good thing. Your ratio of credit limit to debt is what your credit score looks at. So if you have a $300 balance for example and a $1000 limit, your ratio is much better if you keep the same balance and your limit goes up to $2000 (15% as opposed to 30%). Also, American Express doesn't record your credit limit on credit reports, so it doesn't help your credit score as much because creditors checking your credit history can't determine if you are maxing out your card or not (which could be a good thing i suppose, but they might be wary of your credit worthyness though). But also 13% interest does suck. Just something to keep in mind though....
For a girl chanting "D is for diploma" throughout finance class, you sure know your credit info ;) Thanks for the tip I never thought about it that way. Miss you!!
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B) Actually, having a higher credit limit is a good thing. Your ratio of credit limit to debt is what your credit score looks at. So if you have a $300 balance for example and a $1000 limit, your ratio is much better if you keep the same balance and your limit goes up to $2000 (15% as opposed to 30%). Also, American Express doesn't record your credit limit on credit reports, so it doesn't help your credit score as much because creditors checking your credit history can't determine if you are maxing out your card or not (which could be a good thing i suppose, but they might be wary of your credit worthyness though). But also 13% interest does suck. Just something to keep in mind though....
- Your hotlanta friend
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