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I've set some new goals and will be going for high CL's next year. I'm currently at $20800 and may lose $2800 if I axe Best Buy and CapOne. Income is at $120k. I'm guessing $25k CL is a nice goal to shoot for?
My aggregate CL is pretty close to my yearly income - $25k is a pretty conservative goal that you can definitely achieve.
@Razeus wrote:I've set some new goals and will be going for high CL's next year. I'm currently at $20800 and may lose $2800 if I axe Best Buy and CapOne. Income is at $120k. I'm guessing $25k CL is a nice goal to shoot for?
That depends on the CCs and CLs you have now. Some CCs may not increase by much, but others could take a big jump. I think between 100% and 150% of annual income is a good long-term goal, which doesn't necessarily mean you'll get there next year.
I'm at a combined $20,850 limit to a $40,000 income. This month I intend to take my BCE from $2,000 to $6,000, and then to $18,000 6 months later, for a total combined limit of $36,850. My goal is for my available credit to match or exceed my income, which will be nice encouragement to find a better job. I just want to get to the point that I don't have to care about zero balances before the statement hits, and that if I ever get in a less fortunate situation, I don't have to worry about making creditors jumpy by carrying a balance for a while.
I'm just over 200%
72.5k CL with 33k income.
Removing the accounts I am an AU in, I am left with about 27k total CL with $25k income.
Looking at the limits in this forum, one would think having about 100% your income in CCs is normal.
All this talk about limits to income is depressing...
my combined limits are under 50% of my NET WEEKLY income...man if I had 100% of just my net monthly income I'd be happy as I wouldn't have to make 2 payments a week just to avoid going over my credit limits.
I can't fathom having 100% of my income available in credit. But then again, I did spend 5 years after college on a cash only lifestyle (except for my student loans ).
If only I wasn't battling some baddies on my reports and was gun shy of apping for something other than a Cap 1 card..