Unusualy high credit line granted

[michael.foutz]

Its been about 18 months since discharge of chapter 7 and thought it was time to try to establish some credit for my future goal of securing a mortgage one day. Went to capital one online and aplied for a credit card. To my surpise I was accepted and given a $2,000 credit line. My wife had also aplied before and was given a $300 credit limit.

This is my first attempt at any kind of getting credit since my discharge and I find it very odd that I was given such a high credit limit. I have nothing that would be reporting a positive to my credit report and my household income is only $25k a year.

My question is why was it such a high credit limit, is it normal and will it hurt my credit having such a high limit even if I don't put more then $50 on it and only use it to to improve my credit score?

[Oblib2345]

I can't imagine a scenario where the higher credit limit would hurt you (as long as you don't max it out). It is actually probably better because if you did ever carry a low balance, your credit utilization percentage would be much lower than if you only had a $300 dollar limit.

[AMISLANDER]

They can take away your high line of credit anytime they want, read your cc agreement. They can also now change it to a variable rate of interest.