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Valued Contributor
rootpooty
Posts: 1,739
Registered: ‎10-28-2011
0

CL to income question. Who's CL exceeds income

Kinda hard to explain what im looking for in the title actually.  Obviously income plays a major role in determining credit but how big of a role does it actually play?

 

My case for example my income is 50k (not great but not terrible) and my available credit is around 12k which in my opinion is plenty but I could always use more luv!

 

Obviously there is going to be a halt in the CLI's in the near future for me but im wondering where is the halt going to be.

 

Who here has their available credit near or higher than their income?

 

My goal is to have 25k in available credit and wondering if thats possible due to my income.

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Established Contributor
TNTransplant
Posts: 772
Registered: ‎01-03-2012
0

Re: CL to income question. Who's CL exceeds income

[ Edited ]

It's more than possible.

 

There are many people I've read about on this and other forums that have a total CL =/> their income.

 

It just happened to me this year (= to), and you should have no problems getting your total CL to 1/2 your salary.

 

Good luck!  :smileyhappy:


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Senior Contributor
youngandcreditwrthy
Posts: 6,204
Registered: ‎08-16-2012
0

Re: CL to income question. Who's CL exceeds income

My total credit lines are > than my income, but I won't say by how much :-P

I think credit management is more important. As in, if you have a $12,000 Lowe's acct...barely use it and pif. It's very important to have several positive trade lines and high cls to prove you can manage high cls. If you have a bunch of high cls, don't use them lol. It's all about self control!!!

:-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Frequent Contributor
mikka1
Posts: 269
Registered: ‎12-28-2011
0

Re: CL to income question. Who's CL exceeds income

You know, just earlier today out of curiosity I made a small spreadsheet calculating my available CLs + some other parameters (overall util, debt-to-income etc). Apparently, with income similar to yours (~55k) and length of my credit history of a little bit more than a year I currently have ~23k in available credit across all cards and I doubt I reached my overall limit. 

 

Just as a kind of benchmark - one of my relatives with 150k-ish income claims to have around 100k in available credit on cards (not including home equity lines etc) in addition to mortgage and auto loan. He has spotless history of 15+ yrs as far as I know. 

In my wallet now: Amex PRG NPSL, Amex BCE $15k $17k (thanks to recent CLI), Chase Freedom 11k, CSP $6k, Chase United ME $5k, Citi Dividend $5.6k, Discover It $4.5k and a handful of other cards...
TU Dec 2013 - 752Sep 2013 - 764 - new all time maximum
Member
Yoshimune
Posts: 13
Registered: ‎11-29-2012
0

Re: CL to income question. Who's CL exceeds income

My credit limits exceed my income, but no individual lender is exposed for more than a third of my income.

 

My income is much less than yours.



EQ 772 (5/2013) - CS 794 (6/2013) - CK 774 (7/2013)
Valued Contributor
kevinjjc
Posts: 1,310
Registered: ‎01-14-2009
0

Re: CL to income question. Who's CL exceeds income

I currently have about 188k in revolving credit (LOC's and CC's). Let's just say that's more than 4x my annual salary.

Valued Contributor
kevinjjc
Posts: 1,310
Registered: ‎01-14-2009
0

Re: CL to income question. Who's CL exceeds income


kevinjjc wrote:

I currently have about 188k in revolving credit (LOC's and CC's). Let's just say that's more than 4x my annual salary.


Just in case you're wondering, I have 40k in LOC's (25k PenFed, 15k Navy Federal).

Valued Contributor
rootpooty
Posts: 1,739
Registered: ‎10-28-2011
0

Re: CL to income question. Who's CL exceeds income

Thanks for the replies.  I havent seen any much talk of CL exceeding incomes so I figured I would ask.  I need to get a LOC with NFCU im sure that will help me out as well.

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Senior Contributor
youngandcreditwrthy
Posts: 6,204
Registered: ‎08-16-2012
0

Re: CL to income question. Who's CL exceeds income

I have like $100k in avail credit haha :-P
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: CL to income question. Who's CL exceeds income

I'm right about at my income, that's not including NavChek and Amex 3x coming up soon :smileyvery-happy:


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758

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