CL limits?

[megaman1]

Will a CCC generally give you a CLI if your current CL is nowhere close to your income? ie. I currently have an AMEX (2000 CL) and my income is $10,000. Do you think AMEX will approve me of 3X CLI if I continue being good?

Or, will CCCs look at my total credit line, which is $4000, and determine the CLI increase from my total instead of the CL each individual CCC gives?

[gdale6]

Its how you handle the account that matters. There are people who have many times more in overall limits than their income is. I would ask for the 3x.

[user5387]

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@megaman1 wrote:

Will a CCC generally give you a CLI if your current CL is nowhere close to your income? ie. I currently have an AMEX (2000 CL) and my income is $10,000. Do you think AMEX will approve me of 3X CLI if I continue being good?

Or, will CCCs look at my total credit line, which is $4000, and determine the CLI increase from my total instead of the CL each individual CCC gives?

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One thing that CC companies look at is DTI -- your current debt in relation to your income.  This is typically calculated by adding up your monthly housing payment and minimum loan payments, and dividing by monthly income.

With a low income, this might be a delicate issue, and one way to help matters is to keep your reported balances way down.

[370Z]

With one exception (15k Amex with 25k income I think), I have yet to see any other instance on this forum of Amex giving a total CL for their revolvers exceeding 40% of income. Total CL (including Amex among others) exceeding income, however, is possible with strong credit.

[FinStar]

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@user5387 wrote:

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@megaman1 wrote:

Will a CCC generally give you a CLI if your current CL is nowhere close to your income? ie. I currently have an AMEX (2000 CL) and my income is $10,000. Do you think AMEX will approve me of 3X CLI if I continue being good?

Or, will CCCs look at my total credit line, which is $4000, and determine the CLI increase from my total instead of the CL each individual CCC gives?

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One thing that CC companies look at is DTI -- your current debt in relation to your income.  This is typically calculated by adding up your monthly housing payment and minimum loan payments, and dividing by monthly income.

With a low income, this might be a delicate issue, and one way to help matters is to keep your reported balances way down.

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+1