topic CL to income question. Who's CL exceeds income in Credit Cards

CL to income question. Who's CL exceeds income

rootpooty — Tue, 04 Dec 2012 03:05:55 GMT

Kinda hard to explain what im looking for in the title actually. Obviously income plays a major role in determining credit but how big of a role does it actually play?

My case for example my income is 50k (not great but not terrible) and my available credit is around 12k which in my opinion is plenty but I could always use more luv!

Obviously there is going to be a halt in the CLI's in the near future for me but im wondering where is the halt going to be.

Who here has their available credit near or higher than their income?

My goal is to have 25k in available credit and wondering if thats possible due to my income.

Re: CL to income question. Who's CL exceeds income

TNTransplant — Tue, 04 Dec 2012 03:22:58 GMT

It's more than possible.

There are many people I've read about on this and other forums that have a total CL =/> their income.

It just happened to me this year (= to), and you should have no problems getting your total CL to 1/2 your salary.

Good luck! :smileyhappy:

Re: CL to income question. Who's CL exceeds income

youngandcreditwrthy — Tue, 04 Dec 2012 03:19:54 GMT

My total credit lines are > than my income, but I won't say by how much :-P

I think credit management is more important. As in, if you have a $12,000 Lowe's acct...barely use it and pif. It's very important to have several positive trade lines and high cls to prove you can manage high cls. If you have a bunch of high cls, don't use them lol. It's all about self control!!!

:-)

Re: CL to income question. Who's CL exceeds income

mikka1 — Tue, 04 Dec 2012 03:25:04 GMT

You know, just earlier today out of curiosity I made a small spreadsheet calculating my available CLs + some other parameters (overall util, debt-to-income etc). Apparently, with income similar to yours (~55k) and length of my credit history of a little bit more than a year I currently have ~23k in available credit across all cards and I doubt I reached my overall limit.

Just as a kind of benchmark - one of my relatives with 150k-ish income claims to have around 100k in available credit on cards (not including home equity lines etc) in addition to mortgage and auto loan. He has spotless history of 15+ yrs as far as I know.

Re: CL to income question. Who's CL exceeds income

Yoshimune — Tue, 04 Dec 2012 03:43:34 GMT

My credit limits exceed my income, but no individual lender is exposed for more than a third of my income.

My income is much less than yours.

Re: CL to income question. Who's CL exceeds income

kevinjjc — Tue, 04 Dec 2012 04:01:12 GMT

I currently have about 188k in revolving credit (LOC's and CC's). Let's just say that's more than 4x my annual salary.

Re: CL to income question. Who's CL exceeds income

kevinjjc — Tue, 04 Dec 2012 04:11:25 GMT

kevinjjc wrote:
I currently have about 188k in revolving credit (LOC's and CC's). Let's just say that's more than 4x my annual salary.

Just in case you're wondering, I have 40k in LOC's (25k PenFed, 15k Navy Federal).

Re: CL to income question. Who's CL exceeds income

rootpooty — Tue, 04 Dec 2012 04:22:51 GMT

Thanks for the replies. I havent seen any much talk of CL exceeding incomes so I figured I would ask. I need to get a LOC with NFCU im sure that will help me out as well.

Re: CL to income question. Who's CL exceeds income

youngandcreditwrthy — Tue, 04 Dec 2012 04:24:32 GMT

I have like $100k in avail credit haha :-P

Re: CL to income question. Who's CL exceeds income

distantarray — Tue, 04 Dec 2012 04:25:50 GMT

I'm right about at my income, that's not including NavChek and Amex 3x coming up soon :D

Re: CL to income question. Who's CL exceeds income

flowfaster — Tue, 04 Dec 2012 04:36:48 GMT

haha, my total CLs are almost double my annual income and that's not counting my Zync card. I just bumped my BCP up to 15k today too: ). You can do it!

PS: I also have the inquiries to prove it lol.

Re: CL to income question. Who's CL exceeds income

andre181 — Tue, 04 Dec 2012 04:36:09 GMT

My total revolving credit limits are about 2.5x my current income.

Being a poor college student sucks for income, but creditors like students...

Re: CL to income question. Who's CL exceeds income

distantarray — Tue, 04 Dec 2012 04:37:50 GMT

flowfaster wrote:
haha, my total CLs are almost double my annual income and that's not counting my Zync card. I just bumped my BCP up to 15k today too: ). You can do it!

PS: I also have the inquiries to prove it lol.

lol nice so I should try for 16.5k with my BCP? lol

Re: CL to income question. Who's CL exceeds income

flowfaster — Tue, 04 Dec 2012 04:49:03 GMT

distantarray wrote:
flowfaster wrote:
haha, my total CLs are almost double my annual income and that's not counting my Zync card. I just bumped my BCP up to 15k today too: ). You can do it!

PS: I also have the inquiries to prove it lol.
lol nice so I should try for 16.5k with my BCP? lol

Thanks. Hey I started at 2k 8 months ago with the BCP. At 61 days I went to 6k and at 8ish months I requested 15k only because it looks cleaner lol. I would never spend that much anyway. Hell, I have a 10K walmart store card lol **bleep**. If you have clean credit the sky is the limit. YMMV :smileywink: