Credit Help Forums

dice · #1 08-18-2005, 06:06 PM

what is your max credit limit. and what sort of interest rate are you paying?

Kaabi · #2 08-24-2005, 11:16 AM

When I get a credit card, I want a low credit limit and low interest payments. I think thats fair, because if I can't spend a lot on my credit card, I shouldn't have to pay a lot of interest.

bct · #3 10-31-2005, 01:23 PM

i pay about 20% interest on a visa card. i think its 16% interest actually...

rattitude · #4 07-31-2006, 04:41 PM

$1,100 and 0%. Many cards will give you 0% for the first six months or a year so if you are carrying a balance you should look at transfering it to a new card making that offer.

ninikins · #5 08-01-2006, 08:49 AM

Mine is $1500 and 15% I think, quite a lot actually. I am working on paying oit off as I want to be debt free in a few years.

taiarain · #6 08-01-2006, 11:07 AM

The max limit on some of our cards is pretty high. Our interest rates run between 7.9% and 23% on some cards we don't use, but haven't cancelled yet. We're effectively paying less than 1% in interest though. About a third of our debt is locked into a 0% rate and the rest gets moved around via 0% balance transfer offers on existing accounts.

Taia

telegraph.hill · #7 08-02-2006, 01:58 AM

Mine is a pretty high limit, something like £16,000 - but there's no way I'm that much in debt! I only use a little of this.

I've never worked out the interest, I'm scared to. However I do have a post office card with zero interest for the first six months, so I transferred my debt over to that.

taiarain · #8 08-02-2006, 07:18 AM

Quote:

Originally Posted by telegraph.hill

Mine is a pretty high limit, something like £16,000 - but there's no way I'm that much in debt!

We're nowhere near our limits either. I'd be selling my blood to pay it down if we were.

Most of our consumer debt is related to home repairs. We are working on paying it off now. I can't wait for it to all be paid off.

Taia

feline · #9 08-12-2006, 06:17 AM

Quote:

Originally Posted by dice

what is your max credit limit. and what sort of interest rate are you paying?

My limit is P40,000 but I have only used much of it during my last trip. I usually use only a portion and pay all of it when due. It is better to pay our debts while there is no interest yet.

muslgrl · #10 08-12-2006, 08:12 AM

I agree if you can pay off your entire balance when it's due you can reduce your intrest expense and build better credit