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Established Contributor
Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: CCL what amounts are considered high on average?

BoA will definitely do so, might require a soft visit the the luv button though, but I'm sure they will comply, lol.
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
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Re: CCL what amounts are considered high on average?

[ Edited ]
I have trouble just holding on to the credit that I have now. Banks keep wanting to take it back. They don't know I am playing the FICO game and see my actions as dangerous. I see them as score gainers. But the banks see OtOh someone is not paying their bills in full. They don't buy my story... I am not paying my bills fast anymore because I want to stretch out the history for more points. They totally don't buy it even though it is the truth. But I think they are catching on because I don't see their soft pulls twice a month any more. hehe. They stopped the soft pulls almost all together now. I have just what I need and any more credit would be totally ego for me. But then again there is no limit on CL usage when they give you 0.0 apr offers. So yea I could always use more credit now that I think of it.... lol

Message Edited by ilovepizza on 04-03-2008 09:23 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
imducky
Posts: 3,432
Registered: ‎08-27-2007
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Re: CCL what amounts are considered high on average?



Pj1369 wrote:
BoA will definitely do so, might require a soft visit the the luv button though, but I'm sure they will comply, lol.


i'm hoping so. third satement cuts this month and the new citi limit should hit shortly. certainly going to wait till both happen before doing the tapping.
Established Contributor
Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: CCL what amounts are considered high on average?



ilovepizza wrote:
I have trouble just holding on to the credit that I have now. Banks keep wanting to take it back. They don't know I am playing the FICO game and see my actions as dangerous. I see them as score gainers. But the banks see OtOh someone is not paying their bills in full. They don't buy my story... I am not paying my bills fast anymore because I want to stretch out the history for more points. They totally don't buy it even though it is the truth. But I think they are catching on because I don't see their soft pulls twice a month any more. hehe. They stopped the soft pulls almost all together now. I have just what I need and any more credit would be totally ego for me. But then again there is no limit on CL usage when they give you 0.0 apr offers. So yea I could always use more credit now that I think of it.... lol


Have you received and CLDs? Also, what do you mean by "stretch out the history"? Thanks! Very interesting...
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
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Re: CCL what amounts are considered high on average?

Yes, I have had a few CLDs from playing the FICO game. Lenders saw my aggressive action like app sprees and score drops over 100 points, inqs ect as very suspicious. I got my score in to the 800s with these actions... Stretching as in don't pay off too early but pay down your loans. Example. Your car loan is 23 months old and you want to PIF it. Pay most, and wait until it is 24 months. Points are given every 6 payments. So if you can stretch to a 6, 12, 18, 24, 30, 36, ect... you will get more points. If its a small loan you might consider keeping it 2 years. Depends on how much it costs you. If you have the money to PIF a loan and the loan is a super great deal like a new car for 2.9%, put the money in a CD or savings account at 3%-5% and stretch your auto loan. This way you break out even with interest gained and int lost, but you score will go up... :smileyhappy: Only works for installments. For revolving accounts just pay off fast.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Established Contributor
Pj1369
Posts: 844
Registered: ‎09-23-2007
0

Re: CCL what amounts are considered high on average?



ilovepizza wrote:
Yes, I have had a few CLDs from playing the FICO game. Lenders saw my aggressive action like app sprees and score drops over 100 points, inqs ect as very suspicious. I got my score in to the 800s with these actions... Stretching as in don't pay off too early but pay down your loans. Example. Your car loan is 23 months old and you want to PIF it. Pay most, and wait until it is 24 months. Points are given every 6 payments. So if you can stretch to a 6, 12, 18, 24, 30, 36, ect... you will get more points. If its a small loan you might consider keeping it 2 years. Depends on how much it costs you. If you have the money to PIF a loan and the loan is a super great deal like a new car for 2.9%, put the money in a CD or savings account at 3%-5% and stretch your auto loan. This way you break out even with interest gained and int lost, but you score will go up... :smileyhappy: Only works for installments. For revolving accounts just pay off fast.


very cool - thanks for the new knowledge!
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
Established Contributor
Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: CCL what amounts are considered high on average?

Does this also work for SLs? I assume not...
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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Timothy
Posts: 9,252
Registered: ‎03-19-2007
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Re: CCL what amounts are considered high on average?

In my Experance SL's have little factor in score UNLESS YOUR LATE or it's is your only installment loan.
 
This is really true when trying to pay an 50K  SL down 50% w/o a refi is tough for most people.
 
However this is easily done with a 2K or of 5K loan

Pj1369 wrote:
Does this also work for SLs? I assume not...


Established Contributor
Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: CCL what amounts are considered high on average?

[ Edited ]
Interesting, thanks you two! I have a 25K SL...I guess I'll try it out. Thanks again.

Edit: P.S. It is my only installment loan currently open. My car loan was paid last year.

Message Edited by Pj1369 on 04-04-2008 12:47 AM
__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: CCL what amounts are considered high on average?

OP, most of the members here with high scores and high CL's have pretty long histories, which accounts for both. And they frequently say that these high limits were automatic CLI's. They tend to have relatively few cards (3-5), so I'm sure that makes their CCC's more generous.

I do have a $32K card, but it's from USAA, and their policy on CL's is very different. I did have $30K on their AmEx and $7K on their MC, but I recently switched it to $32K on the MC and $5K on the AmEx. We're in the early stages of home remodeling, and MC is a lot more useful than AmEx in home repair land (paying builders and so forth.) HTH
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