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Member
Posts: 12
Registered: ‎04-23-2008
0

CLIs seem to have capped out because of income?

Hello. It seems that I've reached a plateau for CLIs due to my annual household income, or so the CC's denial of CLI letters tell me. Might this actually be the case? If so, is there anything I can do to up my limits, short of making more monies? These are DH's CCs, and his FICOs are between 686-699.

Annual Household Income (DH and I are students): $24,000.00

Credit Utilization: Currently 13%, usually stays between 5%-20%.

CLIs:
BOA- Began at $1,500.00, now at $2,400.00
Best Buy store card- Began at $1,500.00, now at $3,400.00
Capital One- $2,000.00, says they'll give me a CLI when they feel like it, couldn't find a spot online to request one.
American Express- $1,900.00, this one is less than three months old.
Juniper- $1,500.00, For the record, I hate that damned Juniper CC. I've had it for 2.5 years, with a spotless payment history. I'm still at the introductory APR of 22.74%, and have never gotten a CLI, and I've asked for both. Humph.
Super Contributor
Posts: 8,172
Registered: ‎03-25-2007
0

Re: CLIs seem to have capped out because of income?

That is about 50% of your HHI. It might well be part of the reason
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
0

Re: CLIs seem to have capped out because of income?

I really believe this has happened to me too. I can no longer get CLI's without showing my W-2s, pay stub and etc. 25K seems to be the trigger with many CCCs.
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Member
Posts: 12
Registered: ‎04-23-2008
0

Re: CLIs seem to have capped out because of income?

Ah! Is there some sort of 50% rule I don't know about? That would make sense, and 50% is a lot, now that I've thought about it.
Member
Posts: 12
Registered: ‎04-23-2008
0

Re: CLIs seem to have capped out because of income?

Reply to Fused: Just wondering, what makes you think that $25,000.00 is the happy point? What happens after $25,000.00?
Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
0

Re: CLIs seem to have capped out because of income?

I don't know about the 50% thingy...my available credit is nearly twice as much as my individual income. HHI almost equals my available credit though.
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Super Contributor
Posts: 5,702
Registered: ‎10-06-2007
0

Re: CLIs seem to have capped out because of income?

My available credit is less then 25% of my yearly  income.  I have a mortgage and car payment though.  I am not complaining since I dont want to wind up in 70k of CC debt again.
 
It seems CLI would be based on income and the card itself based on FICO score and other CR factors.
11/28/2014 FICO: EQ: 796 EX:788 TU:803
Established Contributor
Posts: 527
Registered: ‎11-29-2007
0

Re: CLIs seem to have capped out because of income?

AthenaQ, if it's any comfort, our credit lines are capped at about 40% of our household income, so percentage wise, you're doing better than our house.
4/25: TU 793, EQ 791, EX ?
Goal: 800s by 12/09

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