How much is your highest limit on your credit cards?

Nasqueron

PasturesNew wrote: »

I've not got a credit card. I've never needed one. I'm from a generation where they were ususual, so I've never needed one, so never got one.

So mine's £0.

I pay cash (on a debit card) for everything. If I've got the money, I buy something; if not, I don't.

It'd be so easy to slip up and miss a payment, or c0ck it up, or something like that.... so I'd be too afraid of getting it wrong to get one that gets paid off every month ....

It just doesn't make sense to me and for the stuff I buy. I don't buy things over £100 more than once a year (max), e.g. I bought a fridge-freezer last year .... so coverage/insurance is not of particular concern. I also never travel, so any free travel insurance is of no use.

Cash .... if you run out, you stop spending. A simple concept that's kept me debt free and worry free. I know that what's mine's mine.

Certainly an interesting approach

I never miss a payment as I have a direct debit setup to clear in full
I have a card that gives me cashback on purchases so I get free money from the bank that you don't get from paying cash
I get S75 protection if I pay by card, you don't paying by cash
I have proof of purchase (CC statement) if I lose the receipt, you don't
I can buy something and not have the money leave my account for up to 56 days (nice with 3% interest from Santander) or I can use a BT card meaning I can pay off a purchase over say 33 months meaning cash in my bank longer, earning me more interest

I have never had a missed payment, never had a late payment, I know what I have in my bank and don't spend more than I can afford

TheEffect

Salary £25k/year

Barclaycard Cashback - £8k limit
Lloyds Avios Duo - £1K limit
First Direct Gold Card - £500 limit

Alarae

On approximately 20k a year.
Highest limit is 5.5k.
Total credit available is 15.5k over 4 cards.

fred246

PasturesNew wrote: »

I've not got a credit card. I've never needed one. I'm from a generation where they were ususual, so I've never needed one, so never got one.

So mine's £0.

I pay cash (on a debit card) for everything. If I've got the money, I buy something; if not, I don't.

It'd be so easy to slip up and miss a payment, or c0ck it up, or something like that.... so I'd be too afraid of getting it wrong to get one that gets paid off every month ....

It just doesn't make sense to me and for the stuff I buy. I don't buy things over £100 more than once a year (max), e.g. I bought a fridge-freezer last year .... so coverage/insurance is not of particular concern. I also never travel, so any free travel insurance is of no use.

Cash .... if you run out, you stop spending. A simple concept that's kept me debt free and worry free. I know that what's mine's mine.

I have got over £23K on 0% credit cards with long 0% periods these days. The £23K is invested in current accounts paying interest from 3 to 5%. So I am making about £800 a year from using credit cards instead of cash for my spending. Thanks banks. The money will help me to enjoy life to the full. Loads of holidays - new places to see and explore. I used to use a Tesco Clubcard credit card and it was always nice to enjoy a meal out payed for by Clubcard points. Something nice about having a free meal just for using a credit card instead of paying for things with cash.

slopemaster

PasturesNew wrote: »

I've not got a credit card.
... I'm from a generation where they were ususual...

It'd be so easy to slip up and miss a payment, or c0ck it up, or something like that.... so I'd be too afraid of getting it wrong to get one that gets paid off every month ....

It just doesn't make sense to me ...
.

I'm from that generation too, and in the days when you had to remember to pay them off, I refused to get one. But for many years now it's been possible to have a direct debit set up to pay off the balance in full, so there is no possibility of cocking up.

If it doesn't make sense to you, fair enough.

But I find mine very useful. These days you need a credit card to hire a car, so for that alone I would need to have one. Also I have one that's useful for getting cash out when travelling - which is very expensive on most debit cards. Plus, I like the free credit. I never buy anything unless I have the money to pay for it. But if free credit is on offer, I can temporarily use the money for something else.

Kendall80

fred246 wrote: »

I have got over £23K on 0% credit cards with long 0% periods these days. The £23K is invested in current accounts paying interest from 3 to 5%. So I am making about £800 a year from using credit cards instead of cash for my spending. Thanks banks. The money will help me to enjoy life to the full. Loads of holidays - new places to see and explore. I used to use a Tesco Clubcard credit card and it was always nice to enjoy a meal out payed for by Clubcard points. Something nice about having a free meal just for using a credit card instead of paying for things with cash.

Free cash - would be rude to turn it down. Some do though.

TheNewGuy_2

Only £2000, but then it's my first credit card and I haven't had it very long. Hoping I can gradually increase it.

fred246

My experience is that I get a new credit card and they give me say a £3K limit. My wife uses that pretty quickly as I just pay off the minimum each month. I phone them up and say 'how about an increase on that?'. They say 'Who do you think you are? We decide the limits not you. Keep up your payments and phone back in a year or two we'll think about it'. You then put an application in to another provider and they say 'Welcome new customer. Great to have you. Your limit is £15K'. The limits just seem bizarre and random but they don't like the customer dictating them.

[Deleted User]

slopemaster wrote: »

These days you need a credit card to hire a car, so for that alone I would need to have one.

You can do it with just a debit card nowadays, certainly with Europcar anyway.

Bufger

I have one with HSBC that has a £14k limit. Credit score immaculate earning roughly £1.1k per week.

I only use it if I want a purchase protected (flights etc).