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@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.
@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.