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I'm a college student, been using a credit card for 3 years, always paid off in full after receiving each statement. I'd say my monthly balance is generally somewhere around $500-600, it's been as high as $1,500 when I had to buy a plane ticket or something.
My credit limit is currently $4,200 and the bank keeps offering to increase it.
Is increasing it a good idea? Seems strange to me that the bank would be so insistent about it considering I've never even come close to my current limit. I know there's some sort of ideal credit utilization but I'm not sure how that works.
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- 7 years ago
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