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Re: OT: questions about cr_edit limit....and it affecting Posted by JimBlake [Email] (#141) [Profile/Gallery] (more from JimBlake) on Wed, 1 Dec 2010 16:58:49 In Reply to: OT: questions about cr_edit limit....and it affecting, bender [Profile/Gallery] , Fri, 26 Nov 2010 09:10:26 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Double-edged sword.
Get a card & always pay it off, over time you'll establish a credit rating based on your (presumably) reliable record of payment.
But think of it like this... The TOTAL credit LIMIT of your new card counts towards the total amount that you can try to borrow. Next month when they decide how much to give you (for example) as a mortgage loan, they have to pretend that you are gonna spend all your credit-cards up to their limits on the way home from the bank.
With a good credit rating, it's pretty easy to someday call the credit card & raise it's limit if you ever need to do that.
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