My SON has a TU FICO of 797, 28 years old, NEVER had a credit card of any kind. His LO for his mortage is just blown away. His credit history consists of three automobile loans, all PIF ahead of time. Of course, Dad and mom are very proud.
I hit the 800 club at at about age 37. At the time my wife and I had several credit cards, including Sears, Montgomery Wards, JC Penny, Macy, etc, plus our own individual MC and Visa cards. Our first new home and loan, a 30 yr note was paid off in 7 yrs 6 mos. We save thousands in interest!.
Besides the above, also take it all with a grain of salt. Some people enjoy lying about things, so you never know
In my opinion, the CL is a factor of how much you make, how long have you been dealing with credit and using a card, how many accounts have you responsibly managed in the past, have you ever not paid or been late with payments... What are your current limits and have you used them responsibly?
All of these factors tell the lender how likely you are to pay them back, if you are less likely, they won't risk as much money on you in the form of a CL. If you are more likely, then they feel they have nothing to lose, but a lot to gain (interest and swipe fees) and they will grant you high limits.
I was in the 700 club and had a five figure credit line by the time I graduated college. This was during the easy days of credit when banks had kiosks on my campus and were just giving cards away. I signed up my freshmen year and had a perfect payment history for the 4 years, along with heavy usage. I also had to take out quite a few student loans early on, which probably helped my score as well as the accounts aged and a payment history developed.
Try going through your bank for a credit card. If you have direct deposit and a long history with them, then that will get you a good interest rate and high CL. That's probably the easiest way to gain experience with high CL for future approval with bigger limits from Chase etc.
I know some of you were always credit responsible but, how old were you all when you got 700 club scores and over 5000 CL. Im about to turn 40 and some of you credit wiz kids blow my mind with your young ages and CL. I was told when I was young you couldnt get 700-750 scores until you had AAofA of 15 to 20 yrs. Due tell if its not to much.
What I've discovered the Fico score is more like a game. If you are not actively playing then you are not going to be Fico Fit. If you look at how the fico score is created its easy to game yourself into a good score.
My CLI are not showing, NFCU 14K, Walmart 5K and care credit 10K. I also closed 7 cards last month.
Oh when I said "above," I mean all of the previous replies were true but to also consider some people do lie. I wasn't suggesting it applies to you at all.
AU helps a lot I think. Although I've never dipped below 650, I know that when I had just 1 account I was at ~650. I'm AU on 3 accounts and I have 3 accounts now. Highest limit for me is 4k, highest AU is 2k. I'm a student who doesn't pay for anything except what I "want" and I pay for that with school refunds so everything is paid on time and in full. My current CK score is 732 (today) and I got a letter from BofA saying they pulled my score from Experian I think and it was 726 (about 2 weeks ago). I got my first card July of last year when I was 18.