Why Is My Credit Limit So High? And Should I Be Worried?

4 Просмотры

Спасибо! Поделитесь с друзьями!

Вам не понравилось видео. Спасибо за то что поделились своим мнением!

Издатель Jun 14, 2026

Is your credit limit too high? Learn how to safely request a lower credit limit to manage your personal finances more effectively.

Most financial advice focuses on getting more credit, but having too much available can be a liability for some borrowers. This video explains why you might want to reduce your total credit limit and the specific steps required to contact your bank to make this adjustment.

We cover the potential impact on your credit score and the practical reasons for keeping your credit card management simple. Understanding how your bank views a request to lower your credit limit is essential for maintaining control over your debt. By the end of this video, you will know exactly how to handle your credit limit if you decide it is simply too high.

Subscribe for weekly credit card management breakdowns, and comment below if you have ever had to ask a bank to reduce your borrowing power.

00:00 Intro
00:19 Case Study - Client example of Bank Giving More Than Asked For
01:28 How Do Banks Decide Your Credit Limit
04:50 Debtasized & Brief Credit Card History
07:08 How People Very Easily Become Over Extended with Credit
09:28 What is Lifestyle Inflation
10:50 When High Credit Limits Are Actually Useful
13:01 High Credit Limit Risks & Downsides
16:08 Practical Advice on Managing High Credit Limits
20:28 Implications of Lowering Credit Limits
22:15 Keeping Up With Payments On Lines Of Credit
24:23 Dos and Don'ts of Using Credit

Related Links:

Debtasized Documentary:
https://youtu.be/h_K7CmRF1nU

Banks Are Not Your Friends - Here's Why
https://youtu.be/Wb2aPHMTLZE

FREE How To Budget Course:
https://courses.hoyes.com/courses/how-to-budget

Debt Free Digest Monthly E-Newsletter Sign Up Here
https://hoyes.tips/debt-free-digest-signup

Debt Repayment & Consumer Proposal Calculator
https://hoyes.tips/repayment-calculator-tool

Hoyes Michalos YouTube Channel – Reliable Canadian Debt Answers by Experts
https://www.youtube.com/@hoyesmichalos/videos

Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed.

#personalfinance #podcast #debtfreein30 #debt #creditlimit #credit #creditscore #debtfreejourney