Comments on: Are there any credit cards where you can choose what your maximum credit limit is?

By: RantingLover

RantingLover — Thu, 25 Dec 2008 12:09:57 +0000

As long as you are credit worthy for $200 or more, you can request that you’re credit limit be set at $200. Apply for a credit card, get approved for what ever amount they decide at first, then call and ask for them to set your limit at $200. No problems.

By: dimpelss

dimpelss — Tue, 23 Dec 2008 22:36:07 +0000

The answer to your question, is no. They give you credit limits based on your credit worthiness. If you get a credit card use it wisely, don’t use up to half your credit limit and do not go over half of it. I have many cc’s and I use them sparingly. If I don’t have the money to repay then I don’t spend. I use only in emergencies. They get you with interest and fees, pay your balance off every single month. Building a credit history takes time, so use it just for gas or something small, pay it off for the month. This shows that you can repay your debts and not spending more than you can afford to pay back.

By: XoxoxoxoX

XoxoxoxoX — Mon, 22 Dec 2008 00:21:35 +0000

There you no way you can choose your own credit limit. Credit limits are base on your credit score that involves credit history, income, credit debt ratio, and your payment behaviors. There is a formular to calculate your credit score, and it is calculated by this FICO company/system. It takes time to build up your credit score in order for you to have higher credit limit. Are you maxed out on your credit limit already? That means you better pay it down now, and pay more attention to what and how much you spend.

By: karen g

karen g — Sat, 20 Dec 2008 14:57:56 +0000

get the prepaid visa or the russell simmons credit card.
they were made for you.
it is very smart that you want to manage your spending but i dont think that the limit is the way to do it…..
because most cards wont really honor your limit anyway …..
if you set your limit at 200 bucks and you just happen to spend over that amount, your card will probably accept the charge from the merchant (lets say walmart). So you run your card thru the supercenter reader. Now your balance is 229. Then you have to pay over the limit fees and your interest rate will increase

Lastly if your intention is to build up credit
a card with a low level and a high balance will mess up your credit (balance) to debt ratio (how much you have charged so far)

so get the highest one that they will give you and keep the balance low

By: Chris

Chris — Wed, 17 Dec 2008 13:15:57 +0000

Why not get a prepaid Visa - you can get them at the grocery store or Walgreens - even online! They are great! If you are getting one to rebuild credit, then you might want to consider one of the cards where you have a savings account for $200 attached to the card as a deposit, and as long as you make your payments, your money stays in the account and they report good for you - good luck!

By: nosoup4allu

nosoup4allu — Sun, 14 Dec 2008 01:20:50 +0000

I would think the best thing to do to limit your credit spending limit is to open an account that is backed by a savings account. The credit limit will accordingly be tied to the amount you maintain in your savings account. This is popular with credit unions and credit card agencies that cater to poor credit quality candidates. However, should you go over the limit or not pay on time with these cards, beware! The rates are certain to be exorbitant. You maybe better off just applying for a general credit card and being fiscally conservative.