[Sara]

Originally Posted by 954Stealth

Having multiple cards open is perfectly fine as long as you manage them appropriately. Multiple cards will increase the amount of available credit and will show future creditors that you know how to manage increasingly larger amounts responsibly.

What does that do to your debit to income ratio though? Anything at all?

[954Stealth]

Hey @sara504,
Having available credit won't factor in to your debt to income unless, of course, you run up the balance. But don't be afraid to use the card as long as you are able to pay it each month.
In regard to your other question, no you don't need to use the full amount. They won't decrease your limit and, actually, as you build a good history with your creditor your limit should slowly increase.

[z4drvr]

Originally Posted by Sara504

What about using the full limit?

Anyone know? My store card is a Victoria's Secret card. There's NO WAY I'll ever need $2,000 worth of bras and panties at once. The most I've ever purchased on the card was like $700 and paid off the exact same month. Usually my purchases are less than $100 every 5-6 months or so and I've had the card 8 years now. Will not ever reaching the limit or even half of the limit result in them lowering the limit??

I'd have to ask my GF, I think she keeps her VS card pretty high. I am not complaining, her bill anyway and I reap the benefits. :-)

[Sara]

Originally Posted by z4drvr

I'd have to ask my GF, I think she keeps her VS card pretty high. I am not complaining, her bill anyway and I reap the benefits. :-)

She keeps it high? Thats not smart. The VS card has an interest rate of 24.99% for all cards. Paying 25% interest on a $50 bra? No. not for me. If I dont have cash on me to pay the card off at the store, then I dont use the card. Infact I NEED to go there this week and buy some hospital pajamas and panties. Thanks for the reminder.

[Templar]

Originally Posted by 2011CrazE89

I learned the hard way that not using your credit card will cause them to reduce your credit line. One of my very first cards was IKEA with a 2K credit line. The card sat in my wallet with no activity for a couple years. I was excited to finally move into my first apartment and pick up some furniture. Stood there on line with about $1.7K in furniture, pictures, lamps, etc. When the cashier rang me up. DECLINED! Called customer service when they told me it was reduced to $500.00. Pretty embarrassing having to put half the items back.

Originally Posted by Sara504

What about using the full limit?

Anyone know? My store card is a Victoria's Secret card. There's NO WAY I'll ever need $2,000 worth of bras and panties at once. The most I've ever purchased on the card was like $700 and paid off the exact same month. Usually my purchases are less than $100 every 5-6 months or so and I've had the card 8 years now. Will not ever reaching the limit or even half of the limit result in them lowering the limit??

I have never had that happen to me... Maybe it is different for different vendors.

I have a GAP card and a Best Buy card that I never use anymore and the limit has stayed the exact same as it was when I opened them. I check them occassionally for any possible changes just due to my overwhelming paranoia about fraud, and because I move approximately every 3-4 years for work I need to update my address all the time.

[bloppitybloop]

Originally Posted by Templar

I have never had that happen to me... Maybe it is different for different vendors.

I have a GAP card and a Best Buy card that I never use anymore and the limit has stayed the exact same as it was when I opened them. I check them occassionally for any possible changes just due to my overwhelming paranoia about fraud, and because I move approximately every 3-4 years for work I need to update my address all the time.

It's pretty common for some banks to do. I guess they get mad that you're not using their card. I think Barclaycard does this a lot. Sometimes they'll even close your account completely.