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I’ve had someone recently tell me that buying with credit cards, or having lots of them and always taking them out and swiping them will make people think you’re poor. I don’t understand that. What’s the logic behind that? lol.

Also, more importantly, since our society at least, in America, they hand out credit cards to everyone and their kids and dying mothers,

what credit cards are usually given to the upper, and then the middle, and then the lower income people, and what ballpark figure credit limits do each section of the income bracket get?

I’m wondering because my credit cards have limits that are all over the place, but I’m not sure what’s considered a low limit, what’s considered a high limit, and what’s in between?

Or does that more depend on your score and history of credit than it does with your income bracket?

Can someone elighten me here?

Do rich people get $ 100,000+ limits or something?

I’m not sure how this really works.

4 Thoughts on What credit cards/and limits are usually awareded to upper/middle/lower income people? Is buying w credit ok?
  1. Reply
    Kickin' Dirt
    August 23, 2011 at 12:04 am

    Rich people’s cards don’t have limits and are gold color.

  2. Reply
    Jake in Indiana
    August 23, 2011 at 12:13 am

    Your credit limit has nothing to do with how rich you are. The better the credit score and credit history the greater of a credit limit you get.

    Credit cards are 100% necesarity in the USA nowadays. WIthout them it is nearly impossible to build a credit history.

    Well my parents make a combine income of about $ 300k a year and have a total credit limit of about $ 100k.

    I make $ 50k and have a credit limit of about $ 10k.

  3. Reply
    August 23, 2011 at 12:44 am

    You can credit cards and not even work. I haven’t had a job in the past 8 years since I am a stay at home mom, but since my credit is excellent it is easy to get credit.

    It is good to use credit cards to build up your credit but it is also dangerous if it gets out of control. Make sure to try to pay your cards off asap.

  4. Reply
    Marcus V
    August 23, 2011 at 12:53 am

    the higest card/credit level is platinum. credit cards and album records have almost the same rating level. i think the lowest is green card. platnium shows that you are good to pay off the stuff you buy on credit. the most targeted person that applies for a card is someone be is between the ages of 16-18 b/c they’re the most likely to be irrisponsable and splurge.

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