As I've mentioned before, I have been charging small amounts on my credit card and paying the balance in full each month in an effort to try and get the card company to raise my limit, thus improving my credit score. It's been a little over six months since I finally paid off the whole balance for the first time, a balance that I at one point had let climb up to $650 including late charges and fees on a card with a $500 credit limit. This was during my ostrich phase before I started the blog.
I log in to make my monthly payment today and voila, I see that I now have a credit limit of $5,500!!!
I have mixed feelings about this new development. I am very excited that in all this time of thinking about my money and trying to make up for past mistakes while being treated like a deadbeat by my own bank, debt collectors, student loan servicers, etc. that someone on the outside, i.e. "the man" has taken notice and had a little faith in me.
On the other hand...I know this wasn't an altruistic move on the part of the credit card company. They assume that since I have been charging a few things and then paying for them that given more credit I will charge more things. And frankly, I'm a little nervous about that too. Sure, I have been an authorized user on my fiance's Emergency Credit Card for months now with a similar balance and never ran amok, but it feels a little different when it's just "my card," you know? I am being completely honest here so take it easy on me.
Anyway, I am excited about this news and dedicated to not let it tempt me to spend. Wish me luck!