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Income vs available credit

Blogger

Re: Income vs available credit

It's encouraging to hear you could obtain higher credit limit than your annual income. I started getting concerned lol 

Message 21 of 33
Valued Contributor

Re: Income vs available credit


7PM789 wrote:
I acknowledge that this is an old thread but I have been curious about this topic as I aim to add a few world/signature cards to my wallet in the future. Can anyone else weigh in with there credit to income ratio.
I wonder how many people with lower incomes (15k-50k) have surpassed the %100 mark and if so by how much...
I'm not in that range, but as another data point my credit lines to income ratio is 65%.
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Message 22 of 33
Blogger

Re: Income vs available credit

I think it's more of a concern to them if the amount you owe starts creeping up on your income numbers.

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Message 23 of 33
Frequent Contributor

Re: Income vs available credit


FrugalRican wrote:

I think it's more of a concern to them if the amount you owe starts creeping up on your income numbers.


+1,000.

 

I can't fathom how people get themselves 20K plus in credit card debt...over long periods of time...meaning, carrying high balances for years and only making the minimum payments.

 

I start freaking out if I owe more than $500. Been at the "minimum payment point"...never again.


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Message 24 of 33
Valued Contributor

Re: Income vs available credit

Im around 4% available credit to my income.  Ive got a long way to go Smiley Happy



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Message 25 of 33
Senior Contributor

Re: Income vs available credit

I'm at about like 125% of my personal income, but only like 60-70% of my hhi....

 

I always use hhi on apps....

 

Ive been worried about getting denied clis though or just in general for having too much credit.

 

I think they longer you history is, the less income becomes a deciding factor....

 

as with most things credit related, it's a responsiblity issue...

how responsible are you with huge amounts of credit card debt??

LOL

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Message 26 of 33
Contributor

Re: Income vs available credit


youngandcreditwrthy wrote:

I'm at about like 125% of my personal income, but only like 60-70% of my hhi....

 

I always use hhi on apps....

 

Ive been worried about getting denied clis though or just in general for having too much credit.

 

I think they longer you history is, the less income becomes a deciding factor....

 

as with most things credit related, it's a responsiblity issue...

how responsible are you with huge amounts of credit card debt??

LOL


I'm at about 68% of PI. That said, I could probably (?) obtain more if I asked for it. IMO it's prudent to keep it at a manageable level. Not doing so is how people get into trouble.

 

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Message 27 of 33
Blogger

Re: Income vs available credit

When you retire and don't have a salary any more, do your credit cards get a credit limit decrease if you already have a lot of available credit?

Message 28 of 33
Contributor

Re: Income vs available credit


HiLine wrote:

When you retire and don't have a salary any more, do your credit cards get a credit limit decrease if you already have a lot of available credit?


I wouldn't imagine so. I've certainly never heard of it happening anyway.

 

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Message 29 of 33
Established Contributor

Re: Income vs available credit

Mine with aus included is almost double what I make in a year.
You have to hand it to low income people hahah
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Message 30 of 33