Asset sensitive for unsecured CC or LOC?

[slick_shoes_182]

Maybe individuals with high assets can best answer this, but has anyone noticed a bank or credit union that has cared much about their assets for unsecured lines like Credit Cards or Lines of Credit? I sometimes see "Do you own a home?" or "Whats your net worth?" on applications, but in my experience  I have never had a LO (recon or otherwise) mention assets for an unsecured credit card or LOC. Nor have I ever been asked to document assets for an unsecured credit line, even though my liquid (especially stock market) assets are quite high relative to my income and unsecured debts.

At times, I have taken advantage of 0% promo offers for balance transfers or cash advances, so once the upfront fee is paid, it does not make sense to pay them off until the promo ends. From my perspective, if I have a pile of money ready to pay them off whenever the promo ends, it's no big deal to "let them ride." From what I can tell, most lenders care tremendously about the fact that I am carrying balance, what the balance amount is compared to my limits, what the balance is compared to my income.. but have never cared if I can show them a bank statement that shows "Much more than debts available to be withdrawn."

Has anyone had much luck getting high unsecured credit lines based on assets and not income?

[Dustink]

Assets are part of an AMEX application. They seem to keep them in mind.

[enharu]

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@slick_shoes_182 wrote:

Maybe individuals with high assets can best answer this, but has anyone noticed a bank or credit union that has cared much about their assets for unsecured lines like Credit Cards or Lines of Credit? I sometimes see "Do you own a home?" or "Whats your net worth?" on applications, but in my experience  I have never had a LO (recon or otherwise) mention assets for an unsecured credit card or LOC. Nor have I ever been asked to document assets for an unsecured credit line, even though my liquid (especially stock market) assets are quite high relative to my income and unsecured debts.

At times, I have taken advantage of 0% promo offers for balance transfers or cash advances, so once the upfront fee is paid, it does not make sense to pay them off until the promo ends. From my perspective, if I have a pile of money ready to pay them off whenever the promo ends, it's no big deal to "let them ride." From what I can tell, most lenders care tremendously about the fact that I am carrying balance, what the balance amount is compared to my limits, what the balance is compared to my income.. but have never cared if I can show them a bank statement that shows "Much more than debts available to be withdrawn."

Has anyone had much luck getting high unsecured credit lines based on assets and not income?

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I've seen it happen.

A friend of mine has no SSN (international student), but was given a 10k CL CSP simply because of her deposits with Chase (>100k average daily balance).

Some banks, especially American Express, care about assets. The more assets you have compared to debt, the higher the chances of your unsecured debtors getting paid in the event of a default / bankruptcy. It isn't a "must have" for most bank applications, but having it simply makes your application more "appealing" in a way.

[webhopper]

I have had to post my assets before...   Specifically, Amex requires this, and also when DH applied for Barclay Ring, they asked for this

[NewtoCredit80]

I was approved a Chase Amazon card because I have a checking and saving relationship with the bank.