I've got no balance on my American Express. And the credit limit is FREAKIN' HIGH.
How high, you may ask? Well, through a promotion a couple of years ago, I was able to use balance transfers to raise my limits up to $12,000.
I don't know if I've mentioned it, but that's FREAKIN' HIGH.
Now, having that kind of credit card is both very scary and very empowering. It's nice to know that I can purchase, say, a car in one shot if I have to.
But that's a LOT of credit, and I'm dealing with money problems. So I decided to lower it. (Not destroy the card, mind you. I'm still a bit overdependant on it.)
So I just called and had them lower the limit. She told me that my limit was currently at $14,000. Pay your bills on time, and apparently the limits go up on you without you knowing about it.
Anyway, I should have had her cancel the card. Or bring it down to a manageable limit. Like, say, $500. But I didn't. I lowered it to $6,000. Which brings my available credit down quite a bit, which is definitely the responsible thing to do. But not nearly enough.
At least it's a step.....