Credit Cards

[fishbjc]

For instance...here in Ohio, 150K is a good living.  That amount in NY or CA ain't crap.  Is where you live a consideration for cl????

[debtisgood]

That is an excellent question. I can't imagine they look at that too closely because they also often ask for household income. They don't ask you how many kids you have. An income of 150k is great in most places for a family of 2, but if you have a family of 7 - heaven help you.

[chartley3]

I think they take into consideration not only current utility but DTI when granting CLI's. I know when I apped with chase and called for a recon the analyst on the other side stated that by DTI was quite low and how much did I pay per month toward my CC balances.

[aftermath]

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chartley3 wrote:

I think they take into consideration not only current utility but DTI when granting CLI's. I know when I apped with chase and called for a recon the analyst on the other side stated that by DTI was quite low and how much did I pay per month toward my CC balances.

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When you say your DTI is low, does that mean you have a lot of debt? Or does it mean your debt is low?

[cheddar]

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aftermath wrote:

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chartley3 wrote:

I think they take into consideration not only current utility but DTI when granting CLI's. I know when I apped with chase and called for a recon the analyst on the other side stated that by DTI was quite low and how much did I pay per month toward my CC balances.

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When you say your DTI is low, does that mean you have a lot of debt? Or does it mean your debt is low?

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DTI = Debt to Income

So, a low DTI means debt is low and/or income is high.

[GFer]

Does this mean that when I apply for a credit card I could possibly get a higher cl if I include income of everyone in home?

Seeings how I live with family, I only put my income down.

Wouldn't do it--just curious.

[cheddar]

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GFer wrote:

Does this mean that when I apply for a credit card I could possibly get a higher cl if I include income of everyone in home?

Seeings how I live with family, I only put my income down.

Wouldn't do it--just curious.

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Yes, possibly.  However, when a CC application asks for household income, they are only asking for income which can be expected to be used for repayment of whatever debts you might incur.  The income of someone who happens to live in the same house but whose income is not part of the same "economic unit" as your own should NOT be included.

[fishbjc]

My neighbor has EIGHT CHILDREN...I don't know how in the heck they do it, on a single income!!!!!!

I guess where there's a will, there's a way. 

[GFer]

That's exactly why I don't do it. If the honesty 'hurts me'....oh well.