Who has the biggest credit limit? (it's a boy thing!)

[Duffa]

Ok, so I'm still a newbie, but I want to see who has the BIGGEST credit limit. I've used the search tool and can't find a similar post, so I'll kick off.
$40,000 on Westpac
$43,185 on AMEX (weird, I know)
$60,000 on Citi
$10,000 on Woolies
$8,000 on HSBC

Total $161,185. Beat that!!! LOL

 

[cove]

Is there a Mrsduffa and if so does she have an equal group of limits on her cards?
Some of my limits are before that responsible lender legislation so my Amex and Westpac limits are quite a bit higher but are now probably no longer available due to those changes.
Mrscove has very similar limits to mine so I can pay a real chunk of taxes and bills without having to re-load the cards.
Amex is 100,000,Westpac is 75,000,Citi is 50,000,Woolies EDR is 20,000. Because there are two of us if I include every card it is a bit north of 600,000 but we never leave a balance for interest to be charged except for one error. That error cost 300 for 6 days.

 

[Duffa]

Is there a Mrsduffa and if so does she have an equal group of limits on her cards?
Some of my limits are before that responsible lender legislation so my Amex and Westpac limits are quite a bit higher but are now probably no longer available due to those changes.
Mrscove has very similar limits to mine so I can pay a real chunk of taxes and bills without having to re-load the cards.
Amex is 100,000,Westpac is 75,000,Citi is 50,000,Woolies EDR is 20,000. Because there are two of us if I include every card it is a bit north of 600,000 but we never leave a balance for interest to be charged except for one error. That error cost 300 for 6 days.

Nah, Mrs D is just a junior.

40k citi
14k anz
10k woollies

 

[kpc]

I don't see many biting on this one. perhaps you could have asked who is the wealthiest AFF member?

Sent from my GT-I9000 using AustFreqFly

 

[straitman]

I don't see many biting on this one. perhaps you could have asked who is the wealthiest AFF member?

Sent from my GT-I9000 using AustFreqFly

Agreed.

I think it is one of those situation where if you have to ask then it is probably not you :!:

 

[ftm]

Personally, I wouldn't want a terribly high credit limit - too much risk if someone starts running up transactions fraudulently!

On my Amex Charge, they have a 'comfort limit' which is based on your spending history with Amex. It changes over time and they don't tell you what it is. So while they say there is no credit limit, there of course is!

 

[cove]

The point about your partner having pretty close to the same level of credit covers the event of ones demise where getting limit uplifts for the survivor can be quite difficult especially if your partner is not the one truly running the finances.
Leaving a credit card balance and getting charged 20 to 30 per cent is what happens to many card users every month so that can lead to very ugly consequences.
If it wasn't for earning points I would be quite happy to use the 28 Degrees card for everything and at that point I would be thinking the responsible lender legislation was working.
But here we are chasing frequent flyer points so there is a thrill of the chase that comes with all of that.
Credit cards should be used so very carefully so I would say it is a joint boy and girl thing.

 

[moa999]

Am a relative junior to this game and not giving out exact numbers given this is often a question asked for security purposes!

Got Plat Credit, Woolies EDR and 28 Degrees all above 20.

The 28 Degrees took a long time to increase to a decent limit
Just got a 20% increase in the Woolies EDR

 

[yohy?!]

"what is the highest amount you can authorize on your Amex charge card?"

You used to be able to ask if a particular amount would be approved, not sure if you still can. I've always found this amount to be several times higher than all my credit card limits combined.

 

[Simo]

I don't really use a CC but the one I have has only 15k limit.

I use a Visa Debit card so no limit except how much I have in there.

 

[Duffa]

Agreed.

I think it is one of those situation where if you have to ask then it is probably not you :!:

Thanks for your posts, straitman and kpc.
It was done, tongue-in-cheek by way of "who's got the biggest!"
It was posted at 1.00 am on a Friday night in the playground section! (think red wine).
And I had no illusions that mine would be anywhere near the biggest, a fact borne out within 15 minutes, by the next poster.

Sorry if you thought this was a serious inquiry.

 

[medhead]

Pre GFC I got offered all sorts of limits including a period where successive card applications result in limits that were the sum of my existing card limits. So briefly I had something like $200k of limits.

All quickly reduced to the minimum I require from my cards. Only post GFC card, Amex, has a rather low limit and I was informed that my limit was pooled. So if I wanted to increase that limit I'd have to decrease the limit on my other Amex.

 

[cove]

Red wine or champagne....so many choices.....I am trying not to do too many posts when I am influenced.
With the taxes this month I should be smiling!
I am reminded by that old Tax Department saying "Stop thinking of it as your money" as it all goes down the chute to be handled by our world's greatest treasurer. That guy spent 47 billion more than he had in 2011 so it is little wonder we are not retiring just yet.
Take care with credit cards...I hate hearing the bad stories.

 

[jamesatfish]

Unlike any anatomical allusions this thread might suggest, I would have thought the biggest credit limit is the one you can't see at all - for instance the 'spend what (we think) you can afford' of the top-tier AMEX charge cards.

Sadly AMEX don't consider me worthy of their charge cards, so I'm stuck with a regular old Westpac Earth card for personal use. I've only gone near the limit once and that was to buy a car using the AMEX earlier this year, resulting in a RTW First award ticket for $3300 worth of CC surcharge.

 

[cove]

Jamesatfish that is a pretty good result.

 

[jamesatfish]

Jamesatfish that is a pretty good result.

Thanks - I thought so too. As much as I hate paying CC surcharges, anything less than 2% on a 1.5 point per dollar card makes economic sense to me if redeeming on premium cabin Classic Award flights.

 

[NYCguy]

I don't see many biting on this one. perhaps you could have asked who is the wealthiest AFF member?

I'm happy to wade into that one if anyone's game .

 

[Stephen65]

I don't think it is wise to post your exact CC limits as that is information fraudsters can use for identity theft.

The Amex charge cards do have a limit its just that its not as concrete as with CCs. As I understand it it's based on your prior history with Amex, timeliness of your payments, the nature of the transaction and the largest spend you have made in a previous cycle that you have paid off on time. For example, if you have charged and paid a bill of say $50K then you should have no problem charging at least $50K in any future period provided there is nothing iffy about the transaction. So you can be confident that your limit is at least the size of your highest previous monthly spend. If you want to push your limit up by spending significantly over that the way to do it is to ring Amex in advance and get pre-authorisation for the transaction. If you then charge and pay that transaction on time your limit will increase.

I've used this process to get my Amex plat charge limit up high enough to pay my BAS without needing to reload. When I first joined Amex about 14 months ago I had no history with them but good financials and a perfect credit record. I wanted to pay a tax bill that I was pretty sure was much higher than what they would allow me so I rang them in advance. What they offered me was pre-authorisation of that transaction if I deposited half the amount in advance into my card, which I did. By charging and paying that transaction on time that then established a new much higher limit for me. Since then I have eased my limit up by always ringing in advance if I wanted to pay a larger bill and they have always allowed it (without requiring any deposit). As a result my Amex charge limit is now somewhere up in the low six figures.

 

[cove]

I have had 2 calls from the fraud section of different credit card companies this month.
It is good that they are watching and I am very happy to get their call to my mobile.
Having a fraudster do you over would make you feel sour and of course poorer.
Remember it is just a game for points and if it makes you feel rich with points all the better!

 

[Stephen65]

Yes Amex are vigilant when it comes to potentially fraudulent transactions. For example I recently bought a bunch of DM points from US Airways using my Amex card. These transactions are billed to a rather anonymous sounding vendor called points.com and having four identical transactions (because I was buying points for each member of our family - we each have our own DM accounts) triggered alarm bells at Amex. So they gave me a ring to find out what the transactions were for. This is why I always let them know if I am going overseas so they don't get worried about seeing foreign sourced transactions on my account.

From reading flyertalk the other thing Amex are paranoid about are transactions which have the effect of a cash advance or transactions with related entities so you have to be particularly aware of these.

All in all though I am very happy with my interactions with Amex and I find their reps a pleasure to deal with. CBA are decent to deal with and Citibank pretty poor in comparison.