Credit Card Limit

[wat]

I sometimes wish my credit card limit was only $500.

[yo vanilla]

I don't want to push the controversy too far; I'll just say that much of the blame of the bank failures really starts with the federal gov't over the last 20 years. Not that many bankers were competing for sainthood.

Anyway, if your credit is good, you should call your CC company and ask for a limit increase. Absolutely be honest, for a few reasons. One, people being dishonest or short-sighted or whatever is part of how we got into such a mess. Two wrongs don't make a right and I don't care if the gov't is happy to reward failure these days, my principles still stand. Two, since things are tighter now, banks are more likely to verify your information to determine your credit worthiness. So the last thing you need to do is lie right before they ask for proof of income.

If they don't raise it, apply for a different card. They will run your history and if you are good, they'll probably start you off where you want to be.

[tschwicht]

I agree with yo_vanilla. While the banks may be out for themselves, if you signed up and got a $500 balance based on your past income and try saying you make $250k a year now it's not going to get you anywhere. Just call and ask, if not apply elsewhere. You'll figure something out!

[dnix]

Citibank has always been good to me.

[IRockNvegas]

Yes be honest fanatics, they are going to LOWER your credit line because simply asking for one will raise a red flag.

Yes the government is rewarding failures. The big corporate ones like aig, wells Fargo, b of a, wachovia, ford, gm , jp Morgan, and on and on. All based on sloppy loan practices. Banks are the biggest crooks in the world. They can borrow money at .25% and loan it out at 8% or 12 or 19.99%.

We need peoe like vanilla and blab blib (upper eschelon of values and morality) on both sides of the fence. Unfortuneately we don't. Pointing the finger entirely in one direction is the wrong thing to do. The blame is from the top to bottom.

[tschwicht]

Don't forget Citibank (down to about $2.69 a share right now). If the government is going to make sure that they make it through this, it's like hedging your bets. I'm buying even more shares (I just bought at a little over $3 a couple weeks ago). Instead of complaining about the banks getting money, i'm trying to find a way to take advantage myself.

[nyc2vegas]

be careful with that.....something is going on with them. they are acting shady lately with the mortgage side, first asia shut down their operations and then they stopped allowing correspondent lending. I deal with some of their relatively high ranking members, and I can tell you that discussions with them have been really strange lately.....and it really wouldnt shock me if the govt turned their back on them at this point cause of the public uproar over the bailouts.

[IRockNvegas]

Guess what the gov't is going to sacrifice a bank. They have to. It's going to get ugly. Without trillions from the fed the banks are insolvent. Is it going to be C? It very well could be. They were driven to a .99 cents a share (alot of minipulation from Goldman Sachsen) based on the so called nationalization. That false rumor and market minipulation cost hundreds of millions in retirement accounts.

[nyc2vegas]

yeah I am really feeling a big time shock coming very soon, and I think the markets feel it coming too. I think we saw a dead cat bounce in the market, and we are going to see a semi implosion here shortly and I think it will be citi.....you can hear the murmurs of a second stimulus and I dont think the govt will do it and I think citi will be a casualty of it....time will tell but something in my gut tells me bad shit is coming!!!

[dnix]

so run my citi cards sky high???????

[IRockNvegas]

Nervous twitch? Haha

[blibblab]

blah blah blah blah blah, you really think being honest with banks makes a difference? banks are all about greed and the trillion in bailouts have proven it, worse has yet to come. funny how they are enforcing tighter lending standards when 2years ago anybody with a pulse got a credit card, and a home loan on stated income. please dont be naive.

wait i need to change the blah blah blah's to bliblab bliblab babble bliblab

No need to be hostile - just doling out prudent advice based on the current credit climate (and that honesty is the best policy). Whether or not the banking industry did wrong should not factor into personal financial decisions, especially when one may be delving into fraud.

[IRockNvegas]

Lol blib sorry it's hard to express tone in a written message. Besides my original response about having him say he made 250k was really a joke. Although it will work.

[blibblab]

Lol blib sorry it's hard to express tone in a written message. Besides my original response about having him say he made 250k was really a joke. Although it will work.

Ah, no problem - I have a hard time with underlying humor anyway online unless it comes with one of those smilies.

[killerfanatics]

You guys lost me, LOL! I'm just gonna use it and pay in full. I'll call them the week before I go to vegas. See what happens.