Does Current Credit Limit Amount Affect New Accounts

[Anonymous]

Do credit card companies look at other account credit limit on credit report to determine how much credit they will extend to the applicant?

[OmarGB9]

I'm sure they take a look, and maybe on some rare occasions they may match other limits/beat them, but in general, they use their own underwriting criteria to determine limits and APRs.

[Anonymous]

There is no standard every company has their own way of doing things but I would bet at least some do.

If you were a lender would you give a $20k line to someone whose highest limit elsewhere is $300?

[Anonymous]

Is this what this sentence means? It is found from Credit Limit Discover, "Another factor that comes into play is how much other outstanding credit you have available to you, such as through other credit cards." 

"Outstanding credit?"

[OmarGB9]

No that refers more to overall credit extended to an individual. In other words, how much total credit you have versus your income. Someone with, say, $15k income would not get nearly as much credit extended to them as, say, someone with $100k income. Higher income qualifies one for higher limits across more cards.

[Anonymous]

Yes. That is my question. That, ""Another factor that comes into play is how much other outstanding credit you have available to you, such as through other credit cards."  means they take into consideration how much credit they will extend to the applicant by reviewing how much other lenders have approved them of in the past. Sorry for my confusion.

[Anonymous]

AmEx matched my highest limit when I got my BCP. $18,400 is kind of a random number to pick unless they were looking at my other CL...

[Anonymous]

It's probably age util, and limits in that order.

I'm pretty sure no one discloses everything related to debt in their signature. Don't get mad frustrated or curious when someone has the same stuff in your signature gets approved for venture and you get a quick silver one! pay your stuff off and you probably could have had venture in other words.

[newhis]

My DW got a Sallie Mae @ 3K. She called for recon, they asked several questions and how much she wanted, she said 10K, they said that the max they can authorize was 6K (matching her highest limit).

[Anonymous]

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@OmarGB9 wrote:
I'm sure they take a look, and maybe on some rare occasions they may match other limits/beat them, but in general, they use their own underwriting criteria to determine limits and APRs.

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With the higher end cards, part of that underwriting criteria is experience with higher limits.