What is a No-Limit Credit Card?
A no-limit credit card is to some the cream of the crop in credit cards. The name itself is almost self-explanatory. There is no spending cap on a no-limit credit card, provided you pay your bills in a timely fashion. American Express or Amex is probably the best known of the credit cards to offer no spending limitations. When they first did so, borrowers were expected to pay their full balances at the end of each month. Now Amex frequently allows for flexible payments, and they may limit spending if payments are not adequate. A number of credit card companies now offer a no-limit credit card to people with near perfect credit and with significant amounts of income. This can be a blessing or a curse depending on interest rate, and on how wisely you use credit. On the one hand, a huge unexpected expense can be easily met with a no-limit credit card. Conversely, you can rack up huge bills with profligate and reckless spending, in a very short period of time. Another disadvantage to the n
