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Valued Contributor
Datx
Posts: 1,051
Registered: ‎05-20-2010
0

Re: Credit Limits for incomes less than $30k...


Smug wrote:
At 30k, I have 81k. At the moment

Was all 81k credit extended to you at 30k salary?

TU: 603 – EQ: 569 – EX: N/A – May 2010

Established Contributor
Smug
Posts: 961
Registered: ‎12-21-2010
0

Re: Credit Limits for incomes less than $30k...

Not really my goal is 100K... I PIF each month.
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Established Contributor
Smug
Posts: 961
Registered: ‎12-21-2010
0

Re: Credit Limits for incomes less than $30k...

Yes......
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Frequent Contributor
shalane85
Posts: 286
Registered: ‎06-19-2008
0

Re: Credit Limits for incomes less than $30k...

Thats awesome Smug. I will be at a low income for several years (medical school + residency) but afterwards I shouldn't have a problem getting higher limits. Honestly my 16K is enough.

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Starting Score: 472
Current Score: 628
Goal Score: 680


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Starting Score: EQ FICO 470 TU FICO 482 7/15/2011
Current Score: EX ?? /EQ FICO 628 / TU ??
Goal Score: 680 across the board!

Navy Federal nRewards $500 cl
Capitol One Platinum (AU) $7500 cl
USAA Amex $250
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Valued Contributor
DaveSignal
Posts: 2,096
Registered: ‎07-29-2011
0

Re: Credit Limits for incomes less than $30k...

I have about $40k in total credit with $78k annual income.

EX:694 TU:744 EQ:709
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Valued Contributor
Datx
Posts: 1,051
Registered: ‎05-20-2010
0

Re: Credit Limits for incomes less than $30k...


Smug wrote:
Yes......

Post #6

TU: 603 – EQ: 569 – EX: N/A – May 2010

Frequent Contributor
OnTheRebound
Posts: 431
Registered: ‎08-05-2009
0

Re: Credit Limits for incomes less than $30k...

[ Edited ]

We (wife and I) have a combined income of less than $30K/yr on which we live quite comfortably but modestly. Our combined CL's are about $53K, of which, if we really wanted to, max out all of them, and still PIF every one of them before the statement cuts and still be in great shape. But none  of our creditors knows that, except one.

 

ETA: Forgive me if I sound like I'm bragging. I don't mean to.

Mine- Citi Diamond Preferred WMC $12K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / DW's, I'm AU on most- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / Citi Simplicity MC $4.4K / GE Lowes $10K / GE CareCredit $5K

"Four out of five voices in my head told me to "go for it". I went for it."
Valued Contributor
creditnocash
Posts: 2,237
Registered: ‎07-23-2012
0

Re: Credit Limits for incomes less than $30k...

last year i reported about 12k and this year about 25k next year will be around 35k. (i used 28k on most of my apps july-present)

current cards

 

Best Buy-2500 (Joint with my mom who has bk reporting) 10/10

Macy's 12/10 started with 100 now at 3.5k

Kohls 400 1/12

Citizens 500 6/12

Citizens 2k 8/12

Citizens 5k 12/12

Amex Zync 8/12

Chase Freedom 1k 7/12

AE 700 7/12

Walmart-5k 7/12

Current: Discover Fico 689 8/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/05/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Established Contributor
Smug
Posts: 961
Registered: ‎12-21-2010
0

Re: Credit Limits for incomes less than $30k...

I think they look at long term more than just income....
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Community Leader
Valued Contributor
DaveSignal
Posts: 2,096
Registered: ‎07-29-2011
0

Re: Credit Limits for incomes less than $30k...

I think most banks look at your credit history and what limits are on the cards that you are already managing.  One higher limit card is a catalyst for more higher limit cards.  I think that income would be used to verify that you do not owe signifantly more money then you make.... that would be a red flag.

EX:694 TU:744 EQ:709
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k

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