See This Is How They Get You

Yesterday I got home, picked up the mail, & realized I had 2 envelopes from one of my credit card companies. Yes, I have more than one credit card, #dontjudgeme. Anyway, I figured one was junk mail & 1 was my bill.

Well one really was junk mail. But the other wasn’t a bill…it was a 1 page letter that said

“Congratulations! Thanks for being a loyal customer blah blah blah. To thank you, we’ve increased your limit from X to Y.”

Yall, Y is 900% bigger than X. 900% bigger. Like 9 times more than my current credit limit.

O_o

Naw naw naw playa….that’s not cool at all.

I’ve talked about how my goal is to be more financially responsible. And that includes not using my credit cards unless I need to, and then paying them off immediately.

A credit limit that is 900% bigger than it used to be is just bad biz. And credit card companies know that, which is why they did it. They figure, if you raise the limit, the person will use it, and they’ll get more interest & late fees & whatnot.

But see I’m hip to their game & I”m not playing. So take that evil credit card company! I’m gonna thank you for this higher credit limit & allow it to make my debt utilization ratio better so my credit score will go up. So there!

Ever had this happen to you? Did you use the credit increase?

  • Naw… but I do think one is coming from my current card.

  • illy

    you can always call them and ask them to reduce your credit line. when you initiate it, i believe there is no adverse effect on your credit

  • Wow! I mean, I guess it’s nice to have that cushion in case an emergency ever comes up and you need the funds… but overall, it’s just scary. :/ But I have an irrational fear of bad credit and millions in debt, so…yeah.

    Maybe since you have other cards, you can carry the others and keep that one hidden away at home so that it isn’t in your wallet to spend when you see that fly, out-of-your-budget trench coat at Nordstrom’s.