I just recently came fairly close to maxing our my credit card – I came in just a few thousand shy of the limit. Now, before you kick me out of the personal finance bloggers club for backsliding, please keep the following in mind:
1. The expenses were anticipated. And they weren’t for anything fun, like a crazy vacation or a new car with all the bells and whistles.
2. I just paid off the bill. In full. From savings.Not doing anything crazy like using my line of credit to pay off my credit card.
Anyways, with my most recent bill I got a letter, and I found the wording in the later pretty darned funny. It said. “We are writing about your (credit card name here) Credit Card and are pleased to advise that, because you have effectively managed your account, we would like to offer you a credit limit increase.”
Basically – you just spent lots of money, so here – we’ll give you the means to spend more. And I decided to take them up on it – it never hurts to have a higher limit, as long as you know you won’t waste it, and you can pay it off.
But what I love the most was the way they put it “you have effectively managed your account”. It basically implies that the best and only way to use your credit card is to try and max it out! In fact, we have no idea why you haven’t done this before! Congratulations on joining the club!
There’s no real moral to this post- I just wanted to share my amusement with everyone.
Have you ever been asked if you want to raise your credit card limit? Do you remember the wording used in the offer?