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Income vs available credit

Frequent Contributor

Income vs available credit

At what point, if any, do you think credit card companies start to question why you're asking for more credit?

 

For example, I'm currently at about 66% of my total income in available credit. I obviously have no use for so much, but there are still more cards I'd like to apply for. 

 

Has this ever been an issue for any of you? 


Starting Score: 703
Current Score: EQ 820 4/11/16
Goal Score: 800


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Message 1 of 33
32 REPLIES
Frequent Contributor

Re: Income vs available credit

No. My available credit is roughly twice my pretax income.
Message 2 of 33
Mega Contributor

Re: Income vs available credit


drsmith wrote:

At what point, if any, do you think credit card companies start to question why you're asking for more credit?

 

For example, I'm currently at about 66% of my total income in available credit. I obviously have no use for so much, but there are still more cards I'd like to apply for. 

 

Has this ever been an issue for any of you? 


I don't think it is for alot of people.




EQ FICO 548 3/3/16
Message 3 of 33
Established Contributor

Re: Income vs available credit

Never been a issue for me in 41 years of history.

Message 4 of 33
Super Contributor

Re: Income vs available credit

That's good to know



Message 5 of 33
Valued Contributor

Re: Income vs available credit

Right now my available credit is 97.8% of my post-tax income.  I just got approved for 2 new cards (taking me to that 97.8% number).  I don't think it's a problem, though I do think it has been preventing me from getting a CLI with AMEX.

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 6 of 33
Mega Contributor

Re: Income vs available credit


ptr2593 wrote:

Right now my available credit is 97.8% of my post-tax income.  I just got approved for 2 new cards (taking me to that 97.8% number).  I don't think it's a problem, though I do think it has been preventing me from getting a CLI with AMEX.


Have you tried and they denied you?




EQ FICO 548 3/3/16
Message 7 of 33
Valued Contributor

Re: Income vs available credit


LS2982 wrote:

ptr2593 wrote:

Right now my available credit is 97.8% of my post-tax income.  I just got approved for 2 new cards (taking me to that 97.8% number).  I don't think it's a problem, though I do think it has been preventing me from getting a CLI with AMEX.


Have you tried and they denied you?



 

Yes, twice.  Once at ~70 days, then once 90+ days later. 

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 8 of 33
Valued Contributor

Re: Income vs available credit

My current available credit is roughly 180% of my pre-tax income, never gotten a question.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 9 of 33
Super Contributor

Re: Income vs available credit

I'd be happy if I can get my available credit at 50% of my income



Message 10 of 33