Do u have 15+ cards with average CL over $5000?

[longtimelurker]

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@SGR wrote:

I have fifteen cards with a total of seven having a limit of 5k or higher. Hover over my signature to see my limits. I have fifteen inquiries within the past year on both EQ/TU and nine on EX. All of these cards were obtained within the past year (expect for the Capital One QS1 which is very old).

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I have ~ 18 cards, all 10K+ except for my poor Sallie Mae, which is $5k (next lowest is $10.2K)

[Fico2Go]

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@SGR wrote:

I have fifteen cards with a total of seven having a limit of 5k or higher. Hover over my signature to see my limits. I have fifteen inquiries within the past year on both EQ/TU and nine on EX. All of these cards were obtained within the past year (expect for the Capital One QS1 which is very old).

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A year ago  this month I had just First Premier with $600 limit.  I couldn't get them to drop the AF so I started looking.  Did an app spree and resulted in the cards in my sig line.  I  reconed Barclays and recalled CSR telling me that due to my lack of experience iwth them.. they could only give $1500 limit.  To this day Barclays refuses to up my limits even with heavy spending and PIF.  

So this got me a bit concerned since the next card  I get I want it to be in the higher limits..and not $2000 or less.   

I hope to get a 20K+ LIMIT with Amex in February from 3XCLI.  Hopefully this will trigger others to follow suit. 

[Anonymous]

21 cards. $7500 average.

[longtimelurker]

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@Fico2Go wrote:

Some MYFICOers have dozens of credit cards from various issuers.  However along with the high number of cards I also see low limits on each card.

Which begs the question how many have higher than 5000 CLs with more than 15 cards?

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Remember there are a group of people (who belong to the Holy Church of Utilzation) who NEVER close a credit card.   So any low limit cards they got years ago will still show up (the most devout will still apply for CLIs on these, but some have low maximums anyway).

And since there are a lot of rebuilders, you will also see people with a lot of low limit cards, with perhaps an 3x CLI Amex with a good limit.

MyFico is a fairly diverse group, with a common tendency to app too much!

[Fico2Go]

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@longtimelurker wrote:

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@Fico2Go wrote:

Some MYFICOers have dozens of credit cards from various issuers.  However along with the high number of cards I also see low limits on each card.

Which begs the question how many have higher than 5000 CLs with more than 15 cards?

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Remember there are a group of people (who belong to the Holy Church of Utilzation) who NEVER close a credit card.   So any low limit cards they got years ago will still show up (the most devout will still apply for CLIs on these, but some have low maximums anyway).

And since there are a lot of rebuilders, you will also see people with a lot of low limit cards, with perhaps an 3x CLI Amex with a good limit.

MyFico is a fairly diverse group, with a common tendency to app too much!

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Thanks LTLurker,

I have two Amex revolvers one at 11K and another 8K.  I couldn't decide which one to 3X on the next CLI request.  But now it's clear  that I will be doing the 3X on the $8K CL.  Looks like I need to get everything above 10K as soon as possible to attract followers..

[IcEWoLF]

I have exactly 15 cards now and I am averaging about 5.7k per card.

[takeshi74]

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@Fico2Go wrote:

Some MYFICOers have dozens of credit cards from various issuers.  However along with the high number of cards I also see low limits on each card. 

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You always have to consider the source.  myFICO has a lot of builders and rebuilders.  You can't just look at the myFICO population and assume that it is representative of the overall population out there -- same issue exists with relying on analysis of posts on any discussion forum site on any topic.

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@Fico2Go wrote:

To this day Barclays refuses to up my limits even with heavy spending and PIF.   

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That seems to be a common line of thinking here but CLI's are based on credit and income.  Usage may help but you can't rely on it by itself.

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@iwazl71 wrote:

high limits begats high limits

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That's an oversimplication.  Having high limits does not guarantee that high limits will be granted with subsquent cards.  Higher limits can help with utilization but creditors do not simply match limits.

[NRB525]

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@takeshi74 wrote:

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@Fico2Go wrote:

Some MYFICOers have dozens of credit cards from various issuers.  However along with the high number of cards I also see low limits on each card. 

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You always have to consider the source.  myFICO has a lot of builders and rebuilders.  You can't just look at the myFICO population and assume that it is representative of the overall population out there -- same issue exists with relying on analysis of posts on any discussion forum site on any topic.

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@Fico2Go wrote:

To this day Barclays refuses to up my limits even with heavy spending and PIF.   

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That seems to be a common line of thinking here but CLI's are based on credit and income.  Usage may help but you can't rely on it by itself.

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The MyFICO population is going to skew toward those who end up wanting to get more cards, either they came here already that way, or as they learn, move that direction. Not all members, to be sure, but compared to some of the other websites, on those sites you will see many more comments about "credit cards are the work of the devil".

Apparently I'm going to hell.

[JSS3]

My signature says it all. My goal is to get a 5,000 CL(minimum) on all cards in the coming year.

[Turbobuick]

I have about 8 cards which is probably 3-4 more than necessary. So, to answer your question....   no and never.