Manage Money Well: Say No To Large Credit Limits

Many people see it as great news when they are offered a higher credit limit by their bank for running their credit card account well. But it can actually be quite dangerous!

If you pay off your bill in full each month at the current limit and that limit is high enough, then refuse or do not ask for an increase.

The more that you can have on credit the more tempted you are to spend it - if you have an enforced credit limit in place then don't ask to raise it unless it is proving a real handicap.