Reply
Blogger
HiLine
Posts: 2,851
Registered: ‎10-19-2012
0

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 

Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
0

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%.
FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Blogger
FrugalRican
Posts: 2,876
Registered: ‎02-02-2012
0

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.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Frequent Contributor
JPersat
Posts: 299
Registered: ‎05-28-2012
0

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.


Starting Score: 492 02/12
Current Score: TU: 668 (FICO), EQ: 668 (FICO). EX: 651(lender pull 9/27/12)
Goal Score: 660



Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012
0

Re: Income vs available credit

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



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Senior Contributor
youngandcreditwrthy
Posts: 6,155
Registered: ‎08-16-2012
0

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

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
New Contributor
Elcid89
Posts: 567
Registered: ‎10-04-2012
0

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.

 

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Blogger
HiLine
Posts: 2,851
Registered: ‎10-19-2012
0

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?

New Contributor
Elcid89
Posts: 567
Registered: ‎10-04-2012
0

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.

 

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Established Contributor
CruzImperial
Posts: 867
Registered: ‎07-04-2012
0

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
Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+