Credit Cards

[Razeus]

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?

[bribro]

My aggregate CL is pretty close to my yearly income - $25k is a pretty conservative goal that you can definitely achieve.

[xi]

I agree. I make a little higher than what you do and my total revolving credit lines are at about $140k.

[bichonmom]

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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?

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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.

[Razeus]

Sweet Jesus. Ok. I'll shoot for 100%. 25% for the coming year though.

[SwampSystems]

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.

[andre181]

I'm just over 200%

72.5k CL with 33k income.

[CruzImperial]

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.

[Smug]

30k income. 70.2k CL

[scarrollprint]

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..