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What's your age and credit card limit(s)?

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Original post by Key123
I think a fair proportion of credit card users have enough money not to need them.


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Then why have them? Serious question; I haven't looked into it so I don't know what the benefits are.
Reply 101
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a729
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Original post by tehFrance
Businesses can get huge lines of credit successful or not, my business which has made a profit but is still getting to the stable point has a credit line of £32k in HK for just one CC and hell of a lot more in Dubai (although admittedly it's connected to the real estate side). If your business plan is solid and you're showing signs of growth and know the direction you're heading, you can get credit easily.


Not the case at all in the UK for SMEs! http://www.independent.co.uk/news/business/news/business-lending-falls-again-in-fresh-blow-for-bank-of-england-9165729.html
Reply 102
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a729
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Original post by Plumstone
Then why have them? Serious question; I haven't looked into it so I don't know what the benefits are.


Some pay cashback.
Original post by a729

Ridiculous, I guess it depends on what people are borrowing for then, I recently raised capital to purchase property in the UK, I guess it's different as it's secured debt rather than unsecured but it's still possible to get finance through a LTD company. I suppose it also helps that I have the backing of a financially secure family trust which can bail me out should I require it :tongue:
age 19

1. - £1000
2. - £750
Reply 105
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capri
Age 21

1. £2000 (Got it when i was 19)
Original post by Plumstone
Then why have them? Serious question; I haven't looked into it so I don't know what the benefits are.


I have mine for cashback.

Set to make around £300 this year from using my cards.


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Reply 107
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to8y
2
I nearly have a £20k limit at 21. An £10k Amex, a £6.6k Amex, £300 marbles card and a £2.8k nationwide one which I only use when they don’t accept Amex. I had my first credit card at 18, so it shows how far you can get even when you have to say your income is £0 per year as I’m a student. Then add another £4.2k of free overdraft if you want to include that
20 years old, 0 credit cards. Will never ever have one hopefully. Rather spend my own capital rather than a bank’s money with a very high interest rate.

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