can a credit card's credit limit stop at some point?

Question

assuming u have a specific card and what not...and assuming u pay ontiem and credit is good and they raise your limit...can they stop at a certain point? like a limit at 10,000 and thats it? or can it goes as high as possible?

Answer 1

The limit stops at the point where the issuer thinks the risk of you defaulting is greater than the risk they are willing to take. If you make $15,000 a year, it doesn't matter how long you pay on time, your credit limit will not go very high.

Answer 2

Once upon a time, when credit card companies acted responsibly...

...when you hit your credit limit you were not allowed to charge anything. Example, if you have a limit of $2000, and a balance of $1950, and you tried to charge $100 to it, it would ALWAYS be reject it.

But now, the credit card companies want to "help" out...they will automatically increase your limit to allow you to purchase that item. But they never roll it back.

I have a couple of cards with a $500 limit, and I am ALWAYS calling them up telling them to lower the limit back! One time it went from $500 to $5000! That's the cost of having great credit I guess...they want to give you more!

Answer 3

In fact, if you stop making payments on a credit card, late fees and interest usually are added to the debt each month. If you exceed your credit limit, additional fees and charges also can be added. This can cause your original debt to double or triple. What’s more, most debt negotiation companies charge consumers substantial fees for their services, including a fee to establish the account with the debt negotiator, a monthly service fee, and a final fee of a percentage of the money you’ve supposedly saved.
read more about credit card at: http://www.card-gallery.com/index.html

Answer 4

I think they do a limit of 15,000 but i could be wrong but if you don,t want it that high ask them to lower the limit