Dec 05
I am trying to improve my credit score and I am just trying to figure out the best way and fastest way to do it. I also was wondering if it looks bad or good on your credit to have cards with small limits like $300 or $500? That’s the highest limit that I have and was wondering how it is affecting me. Should I close cards with low limits and just not have credit cards at all? HELP!
well have you asked for an increase?
Credit cards start their limit small, and allow you to work them up to a higher limit.
If you are smart with your cards, it doesn’t ***** up your credit score at all. Try to limit how many cards you have, because THAT is what will goof it up.
Having a credit card can help your credit, as long as you pay them off. Some people recommend that you pay the minimum, some say pay it all off, but as long as you pay AT LEAST the minimum, then it will work fine.
The best idea is to not have credit cards. They just take your money. Pay cash for everything or use a debit card. No-one charges you for that! Credit rating is just another way of telling people that you’re in DEBT! Not good. That’s my advice and I expect it will not be popular but I’ve found it’s the way to go.
The reason you have such low credit card limits is probably because your credit is not too great. Pay them on time and after a while you credit will improve. Do not cancel the cards. Have you ever tried checking into a hotel or rent a car without a credit card, Can’t be done.
I remember when got my first credit card, the limit I had on it was $500;
The reason companies give credit card with limit, because they don’t know the person that will or they have had problems with their credit, remember paying your credit on time and using your credit card helps build your credits and also some companies will increase your spending limit once they see that you are paying them on time and using it the credit card right. Sometimes you might need to call your credit card company and tell they that you have been a customer for a while and that you want them to increase your spending limit, some will do it without any problems. So remember pay on time, avoid late fees, and ask for higher spending limit by calling them… what do you have to lose.