On: Why Discover is no American Express

[nemomarx]

Do you need a very high limit? I pay every other week and my limit is already higher than my paycheck usually is, so I'm not sure what I'd use an even higher ones for?

[jjav → nemomarx]

Part of your credit score is the percentage utilization of your available credit. So you want higher limits that you'll never use in order to make that percentage smaller and thus your credit score higher.

Silly game but might as well play it.

[Dalewyn → nemomarx]

Higher credit limits mean many good things:

* The bank is confident you will pay back your debts.

* Your credit utilization will be lower relatively speaking, which banks really like.

* You can put more spend on your card if and when you really need to.

It's always worth waiting for the billing cycle to close before paying the statement balance if it is practical to do so.

[arccy → nemomarx]

for the times when you actually want to put something on the card, like plane tickets and hotels

[toast0 → nemomarx]

Never know when you're going to need to buy a car and drive to Mexico. :P