cancel
Showing results for 
Search instead for 
Did you mean: 

Simple question

tag
Kenny
Moderator Emeritus

Re: Simple question


@Shock wrote:

Well, its pretty much because I hit my internal limit with Chase, plus many new opened accounts recently.

 

I was just wondering about the over income thing. I guess my next question would be, does that scare creditors away? Supposed my income dropped to 30k and I had 54,500 in open credit. I know it's common; but can I get any more credit?


It's possible, for sure.

Message 11 of 13
sexy_kitten7
Regular Contributor

Re: Simple question


@nachoslibres wrote:

I'm pretty sure they don't go calculating how much your total limits are with other cards and then comparing it to the annual income figure you supplied


From what I've heard, they do. The reasoning is as follows: while 100k in avail credit shows John Doe is creditworthy, he could rack up 95k tomorrow and we might not get our money back. There is more risk in this sense than with someone with only 10k avail credit.

 

With that being said, I've never had an analyst comment on my aggregate limits. But denial letters usually list "sufficient avail credit," among other factors.


Quicksilver MC / Amazon.com / Better Balance Rewards Visa / Freedom / Dividend / Quicksilver Visa / Cash+ / Thank You Preferred / Blue Cash Everyday / Better Balance Rewards MC / BankAmericard HRC Cash Rewards / It / Arrival / FlexPerks / Platinum AAdvantage / MileagePlus Explorer / LifeMiles
Message 12 of 13
Shock
Established Contributor

Re: Simple question

Yep. I was denied for  CLI wth my Barclays because I had too much available credit.

 photo myfico_zpsd00088cb.jpg
Message 13 of 13
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.