Tangerine Credit Card - Financial Wisdom Forum
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Tangerine offered me an 11,000 limit on their credit card. Should I accept?
Denied Tangerine credit limit increase
Because 35+7 is a lot of potential debt. Even if you only use 5% the bank looks at it like you COULD use all of it. Add in a mortgage, car loan, etc. and you have potential for a lot of debt.
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It's my first time applying for a card as a Permanent Resident. Usually I just accept the 1000 limit banks give me and go on my way.
I applied for Tangerine's card today and they're offering 11k as the limit. What are the negatives of accepting this limit? Will it reduce my opportunities to apply for other credit cards in the future?
I monitor my credit spending well; I haven't missed a full payment, ever. So overspending is not a concern to me. My monthly spending is about 400.