Daily Home Renovation Tips

Home energy savings, improvement & maintenance experiences, one house at a time.

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Beware The Increased Credit Card Limit

January 13th, 2008 · No Comments

Today we have a short and to-the-point financing related home renovation tip. 

If  you are using your credit cards to pay for even some of your renovation expenses, at some point you will likely approach the limit for that credit card.

If you pay the balance off on time, then in the next one or two credit card statements you may (or will likely) see that they are congratulating you for paying a lot more money than usual on your card with a credit card limit increase.

If you need that extra, what amounts to a, line of credit, fine….use it.

But, if you don’t, consider calling the credit card company back and have them return your credit card limit back to what it was.

You don’t have to accept the new credit limit. Especially if you are, shall we say, credit card or spending challenged, then definitely call them to return your new limit (that you didn’t ask for) back to what it was, or even something less if that is what you want.

Tags: Finances

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