+1.

 

they want you to spend more right now so that you pay more apr. i was 1 month late with a payment and the cc company called me 5 times a day 5 days after the due date.

 

yup, they can

 

They want you to think that you have more money to spend than you actually do, and will make a good bit of money on interest when you over extend yourself. If you can control your spending than it is not a large concern, but if not you should expditiously have your limit reduced.

 

Im only using 18% of my credit limit

 

Do you carry a balance month-to-month?

 

Yeah, but im workin on it....finally gettin money back from school and not having to put tuition/books on my card

 

it's a tarp! they know you carry a balance of 50% of your available credit, thus if they increase your limit they will make money off of you!!!

TARP!

 

I only use it for school and emergency situations

 

Like RB said I've heard it can be a bad thing to have high limits even if you're not near the max because it leaves the possibility of having more debt if you end up maxing it out.