How does income factor in for CL?

[Anonymous]

Just curious, when I saw an earlier post of someone who applied and got 49K of new credit...I'm assuming that they have a higher income.

How does income factor in when credit card companies are determining your CL?

Do they use debt-to-income ratio?  Thanks-

[MidnightVoice]

I don't know the answer, but.....

FICO does not consider income at all, lenders should.

Most applications ask for income, and I assume they check your score and available credit and make some calculations.  I have seenpeople talk about CLs greater than their annual income:

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=14030&query.id=16623#...

[Anonymous]

Thanks, looks like this was already asked and I missed it

[Anonymous]

If scores are very good and income is at least 50% more than total credit lines you can pretty much get up to 50% of your income. It starts to get tough after that. And credit lines over your income (if your not in college) it's like pulling teeth.

[MidnightVoice]

---

ilovepizza wrote:
If scores are very good and income is at least 50% more than total credit lines you can pretty much get up to 50% of your income. It starts to get tough after that. And credit lines over your income (if your not in college) it's like pulling teeth.

---

but....

---

db23 wrote:
I have a total CL that is about 30% higher than my annual income however my highest single CL is a little less than 20% of my annual income.

---

[Anonymous]

OK, that helps...thanks!

[Anonymous]

I think I need a higher income...he he!

[MidnightVoice]

---

Elexi21 wrote:

I think I need a higher income...he he!

---

Join the club!!