-
“During the course of the conversation he mentioned he has a credit limit of about eighty grand spread over several cards… Why would I need $80,000 in credit?”
This article is about Spare Change Monday, 8th January 2007 (by J.D. Roth)
This article is about Spare Change Monday, 8th January 2007 (by J.D. Roth)
January 8th, 2007 at 8:53 am
I liked the piece about whether or not a person “needs” a 80k credit limit.
For most people, the answer is probably not. However, some people that have an entrepreneuerial bent to them can benefit by holding a few high credit line cards, in the event they decide to strike out on their own. Again, this isn’t an “everybody” type of situation, but I have seen it as a positive in a few cases.
Otherwise, just use the card for purchases you know you’re going to pay off right away and get rich slowly!