Curious about CC

[Cheryla18]

Okay I will be filing tomorrow...had some delay due to paperwork. I know there is a 24 mo to 700 and i will be using this method...but I really want to know is what determines what your credit limit will be when app'ing for CC....I have  basic income of 55,000.00 a year but usually end up making around 73,000.00 with overtime. What landed me in this position is a tax lien. How do some people end up in Low limit Hell...while others don't? 

Thanks in Advance

[Anonymous]

Im waiting to see responses , but I think it's a mix of starting score  after Bk , income ,responsibilities , and if they were included in the Bk .

[Anonymous]

I think a lot of it is debt to income and how clean your reports are. Work on getting your reports cleaned up first. Good luck!

[Anonymous]

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@Cheryla18 wrote:

Okay I will be filing tomorrow...had some delay due to paperwork. I know there is a 24 mo to 700 and i will be using this method...but I really want to know is what determines what your credit limit will be when app'ing for CC....I have  basic income of 55,000.00 a year but usually end up making around 73,000.00 with overtime. What landed me in this position is a tax lien. How do some people end up in Low limit Hell...while others don't? 

Thanks in Advance

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IMO, they apply for too much too fast, before their reports are cleaned up, often applying for credit with institutions that aren't BK friendly (you can research the ones that are here) and run up too many inquiries and overutlize their credit limits.

[Scupra]

Store cards They start with a low limit and other lenders follow.