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Frequent Contributor
drsmith
Posts: 386
Registered: ‎11-27-2010

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? 


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Frequent Contributor
jausanka
Posts: 483
Registered: ‎05-06-2009

Re: Income vs available credit

No. My available credit is roughly twice my pretax income.
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

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.




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EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Established Contributor
namvet
Posts: 866
Registered: ‎09-22-2011

Re: Income vs available credit

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

Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008

Re: Income vs available credit

That's good to know



Valued Contributor
ptr2593
Posts: 1,486
Registered: ‎08-14-2011

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
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

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?




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
ptr2593
Posts: 1,486
Registered: ‎08-14-2011

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
Valued Contributor
smc733
Posts: 1,262
Registered: ‎05-13-2010

Re: Income vs available credit

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

Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008

Re: Income vs available credit

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




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