04-30-2008 04:41 AM
04-30-2008 06:02 AM
One small detail that has puzzled me for years is how the credit card companies determine the limits. My Chase card has a limit of $25,000 which is an obvious round number, but how come my Citi card has a limit of $23,400 and my Discover card has a limit of $10,400 right now? Back when I still shopped at Sears my Sears card had even stranger limits, I don't recall the exact values but they were always $6579.32 or some such. I suppose these numbers come from arcane mathematical formulas, because I think an actual human decision maker would be more likely to pick something like $1000 or $5000 or $20000 depending on the customer.
I've never asked for a credit line increase, never hit 50% utilization on any card, they just increase the limits from time to time.
04-30-2008 08:39 PM - edited 04-30-2008 08:44 PM
Timothy wrote:It is an internal system, I have tried to reverse eng it to no avail- mostly because they use the income you provided and add up all the min payments (that can very)Some Companies match your highest Cl or 2nd highestTake my recent Discover card approval $6,800 - not my highest or lowest- no other accounts with this CL.