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CL compared to gross income

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Kidcat
Established Contributor

Re: CL compared to gross income

I'm with you.  My combined CL are less than a week's pay.  I have great income $150k plus bonus, but I've been spending every extra dime trying to get totally out of debt erase/ payoff past mistakes.  I'm also paying a chunck toward my sons college tuition so he is not saddled with student loan debt, as mine is crushing. 

 

Prior to divorce and BK my CL were multiples of my income.  There are pros and cons. I've experienced both.  If you use wisely (we didn't) it can help for things such as paying tuition bills early and getting the rewards. Now that is all paid with cash (it's own advantage). 

 

I would be happy if I can get to $25k in CL on prime cards. 




Last app 09/21/2021. Gardening Goal Oct 2023
Message 11 of 15
CS800
Super Contributor

Re: CL compared to gross income

At around 120K/yr while other factorrs in your credit report will determine you CL, A decent report will get you CL's close to or higher than $25K




Message 12 of 15
ramblin_wreck08
Regular Contributor

Re: CL compared to gross income

I was sitting at 15%, but am now at 18% after a CLI from Citi the other day. Granted, I only have two credit cards, but I would really like to get this number up to around 50%.
Amex BCP $20k | PenFed Platinum Rewards VS $16.5k | Amex HHonors $10k
Message 13 of 15
navigatethis12
Valued Contributor

Re: CL compared to gross income

I am already over income (35000). Lenders would be more nervous about you having more than your income on just their cards.

Message 14 of 15
Razeus
Frequent Contributor

Re: CL compared to gross income

I can see this is going to become a sport for me.  Let the games begin!

My Wallet:
AMEX Platinum | Discover It $20.3k | Chase Sapphire Reserved $16k | Chase United $12k | AMEX SimplyCash Plus Business $11.6k | AMEX Schwab $9k | AMEX BCEP $8.2k | Citi Costco Anywhere Visa $8k | Chase Amazon Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Wells Fargo $5k | Citi Best Buy $4.2k | Citi Visa Signature $3k | Care Credit $3k
Message 15 of 15
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