Thanks! I won’t. I ride a bike everywhere I can.
I called them a few times to lower it back down (what if I wake up one day and decide to be irresponsible? I’m screwed!) and they basically very enthusiastically and politely gave me as many reasons as possible that it definitely would not be good to dial back my credit limit:
- Oh, but you might find it useful later. What if you need to buy a diamond ring?
- Oh, we certainly can lower it for you, but why not keep it? You’re doing great! Plus, it might be hard to increase it again in the future?
It’s almost like: oh look, there’s this giant pit we’ve dug for you! Isn’t it great and useful! Don’t worry, you won’t fall in. We can fill the pit up for you but why would you want that?
I generally don’t game the system this way, but my first credit card was so low I couldn’t even charge my textbooks to it. Phoned to request an increase and they gave me “helpful” tips like, “oh, you can prepay the difference onto your credit card first, and then charge the large purchase”, and I was always paying back the full amount on time, and pretty much going nowhere.
Had to prepay before buying my PowerBook 1400cs. Had to prepay before buying airline tickets. Had to prepay before buying my PowerBook G3. Had to pre… you get the point.
All I really wanted was an amount big enough to fit the occasional large purchase, without having to first go to the bank several days in a row (withdrawal limit). So when my friend explained how credit card companies actually worked, it was an eye-opener.
Oh, and they ask for your workplace phone number on the application. It’s not to verify anything. It’s so that, if you ever fall into a rift, they can harass your boss and royally embarrass you so you’ll do anything to pay them so they don’t get your boss annoyed at you. Because they don’t really have collections agents. They just sell off “bad balances” at a loss to strong-arming shady people who use violence to extract payment.