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Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
0

Desirable total CL?

I was wondering what most people consider a good/healthy total avail CL? I've worked up to around $50k, which was my goal. Now, I'm wondering if I should set my next goal to $100k, or just sit tight.

 

My DTI and util are low. I'm just thinking about optimizing FICO and having CLs avail should I want to use it for a trip or major purchase. Right now, any balance over a couple of thousand is going to have a major ding to my FICO.

 

Also, I'd think that the best way to increase total CL is to bide my time and get CLIs, as opposed to getting several new CCs, which will only lower my AAoA. What's the best strategy to increase overall CL avail?

 

Thanks! Smiley Happy

 

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
Posts: 1,255
Registered: ‎03-22-2012
0

Re: Desirable total CL?

What cards do you currently have?

 

What are their CLs?



Starting Score: EQ 658 6/18/12
Current Score: EQ 705 6/21/15 - EX 783 6/21/15 - TU 707 6/21/15
Goal Score: EQ 720+
Take the FICO Fitness Challenge

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

Re: Desirable total CL?

I am 70k and I am in the garden till my last baddie falls of in 2 years, then I will add 1 more card.
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Regular Contributor
Posts: 248
Registered: ‎09-02-2011
0

Re: Desirable total CL?

I'm at about 75K all together. That's not counting my Amex PRG thats NPSL. I'll be happy at 100K (that's what I tell myself at least).

Trans Union Fico (Walmart) ,690 Experian Fico (Amex) 686(Opened 3 new accounts this month. In the Garden)


AMEX BCE ($19,500) AMEX PRG -(NPSL), BARCLAYS US AIR PREMIER WORLD ($10,000), BOA CASH REWARD -($6,000), CITI HILTON RESERVE SIGGY-(5,000), WALMART DISCOVER ( $5,800), CITI DIAMOND ($4,700), CITI DIVIDED WORLD ($4,500), AMAZON STORE($5,000), NORDSTROM VISA SIG($5,000), PAYPAL STORE ($4,000) Amex Delta Gold ($2000)
Established Contributor
Posts: 869
Registered: ‎07-04-2012
0

Re: Desirable total CL?

[ Edited ]

Mm I went from 4.5K to 30K in a month and right now to be honest I feel good with the cards I have. Just waiting to get CLIs at this point till next year and apply only for prime cards when the time comes. No more store cards for me, unless 1 or 2 I would really use for the 5% discounts.

 

Eventually, would like to up my store cards to 5K and close everything below that(CapOne, Bofa)

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Senior Contributor
Posts: 4,698
Registered: ‎02-23-2011
0

Re: Desirable total CL?

For me, anywhere from $50K to $75K for personal cards.

 

With some recent card additions this year, I've gone above it, but I periodically cancel cards or request CLIs (except Chase--never do this with them) to keep around my preferred range.

Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
0

Re: Desirable total CL?


Open123 wrote:

For me, anywhere from $50K to $75K for personal cards.

 

With some recent card additions this year, I've gone above it, but I periodically cancel cards or request CLIs (except Chase--never do this with them) to keep around my preferred range.


Curious why you never do a CLI request w/Chase.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
0

Re: Desirable total CL?

Thanks for the replies. It looks like I'm in the desirable range. Maybe a few CLIs over the next year will help.

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Senior Contributor
Posts: 4,698
Registered: ‎02-23-2011
0

Re: Desirable total CL?


bichonmom wrote:

Open123 wrote:

For me, anywhere from $50K to $75K for personal cards.

 

With some recent card additions this year, I've gone above it, but I periodically cancel cards or request CLIs (except Chase--never do this with them) to keep around my preferred range.


Curious why you never do a CLI request w/Chase.

 


An approved CL with Chase once reduced remains the "new" internal limit CL which can't be raised again without going through the entire application process.  Unlike, say, with Amex where it's pretty routine to allocate, shift, raise and lower card limits.

 

With Chase, once lowered, the limit is frozen.  For instance, let's say you app'ed and received a $20K CL.  If you keep the limit, on your next Chase app during recon, you can request they shift some of the $20K to the new card if you weren't instantly approved (because of multiple apps).

 

Now, if you had opened the card initially, and found the $20K too high and lowered it to $5K, you won't have any leeway to shift the limit during recon to give them a reason to approve a card the computer had automatically rejected because of excessive inquiries, new accounts, etc...

 

During recon, Chase isn't very sensitive to inquiries or new accounts if you can explain why you want the new card; however, you need a high enough limit on a card to be able to reallocate for them to approve at the minimum $5K signature level.

Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
0

Re: Desirable total CL?

Okay. Thanks! I've yet to be at the point where I'm decreasing CLs. Smiley Wink

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

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