got a call from our bank that we won a gift

**tammy8701** · 08-01-2008, 10:58 AM

had to laugh got a call from our bank cibc on tuesday that dh and l won a gift but coundnt tell me till they talk to dh ok fine l call dh on cell and tell him we won a gift from our bank and they had to talk to him first (pravicy act thing) so dh called me back and we won get this a 15 thounds dollar line a credit ya right like we need that so l nicely called the bank back and told them no thanks we really dont need this.l check our banking on line what do they do cibc visa do put our limted up to 15 thousand what (we have 0 blance on that account)well it gets better get the mail yesterday and home depot put the credit limted up to 10500.00 what (we owe 400.00 on the card that will be paid off at the end of aug or sooner)it really ticks me off that they cant call and ask if you want higher limiteds on cc but just go ahead and do it

**YankeeMom** · 08-01-2008, 11:38 AM

They will try anything to get you under their thumbs

You can call & request they lower the limit back down to what it was (or lower). Having too much available/open credit can harm your credit.

**Greebo** · 08-01-2008, 11:57 AM

Originally Posted by YankeeMom

They will try anything to get you under their thumbs

You can call & request they lower the limit back down to what it was (or lower). Having too much available/open credit can harm your credit.

I don't think that's correct. From what I've read, having more available credit helps your score. Having higher utilization hurts it.

That's backed up by this page: http://www.myfico.com/CreditEducatio...YourScore.aspx

Proportion of credit used matters - total limit doesn't.

**tammy8701** · 08-01-2008, 01:49 PM

Originally Posted by Greebo

I don't think that's correct. From what I've read, having more available credit helps your score. Having higher utilization hurts it.

That's backed up by this page: http://www.myfico.com/CreditEducatio...YourScore.aspx

Proportion of credit used matters - total limit doesn't.

l think you right greebo it does help your credit score but dont forget l live in canada ontario we dont carry a blance on the visa but the home depot card is going when it is paid off at the end of the month
to bad the gift didnt go towards our mtg lol that would have been a nice gift l really dont know how they can call it a gift its more like a nightmare,but l did the right thing and said no thanks we dont need it so why have it

**Natalie** · 08-01-2008, 06:36 PM

Just cause you have a high credit limit doesn't mean you have to use it. It's just there in case of an emergency.

I could probably get a used car, put it all on one of my cc's. 'cept I don't want to, the interest would kill me.

**Wendy99** · 08-02-2008, 12:33 AM

I would have refused it too!! I live in Canada too & recently requested our credit card balances be lowered as well. Can't stand that they jack them up so high ... we need permission on our end if we want to up them, so they should do like wise. Whether it hurt my credit or not (my credit was perfect anyways) I wanted them lower.