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Topping out-- when do you stop?

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kroberts67
Established Contributor

Topping out-- when do you stop?

I recently cancelled 2 store cards I don't see myself ever needing again.  I'm keeping open cards that either I will use and/or have a nice CL with no AF for UT purposes.  I make $65-70k/year and am left with a tad over 80k in total credit lines.  I don't need more credit, there are maybe 2 more cards I'd like to aquire for the rewards but as far as credit, I don't need any more.  I look at my open credit lines and I look at my income and I'm probably topping out as far as potential risk as far as creditors would be allowing, I'd think?  I stopped requesting with the store cards because I don't want to "top out" due to stupid little store cards having huge lines.  I mean, who needs more than $5200 at Penneys... and so on! Know what I mean? It's not needed, it's just a rush to get the congrats.

 

So my question is, when do you stop hitting those luv buttons?  Should I be concerned that Amex woudn't give me a CLI when I get to 181x, etc?

FICO: EQ 814 | TU 847 | EX ? (Started in the low 500's... you can do it!)

Amex BCE $25000, Amex AP $20000, SFFCU Visa $15000 + LOC $5000, USAA Amex $6000, USAA MC $7000, Cap1 $9500, Freedom $12000, Slate $500, Barclays "RIP" SM $11500, USBank Cash+ $12500, Citi Diamond $11200, Citi Double Cash $12000, Care Credit $13500k.
My Credit Repair Journey
Message 1 of 21
20 REPLIES 20
emptypockets
Valued Contributor

Re: Topping out-- when do you stop?

It is enough when you feel it is enough to suit your needs. Many people have 4-5x their income in credit limits. As long as a person can handle it and not overspend, I don't see it as a problem. Many times, just by being responsible and paying on time, credit limits will grow on their own (auto CLI's). I have a few cards I will not try for CLI's on, because I don't see the point, I will never come close t using $12k at Walmart, for instance. However, lots of people seek CLI's for utilization purposes just in case they need to carry a balance; to help with getting higher limits on subsequent cards; or because taking part in these forums and building credit and getting new cards is addictive. Whatever their reason, if people do what works for them it is not a big deal.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (5), US Bank Cash+, Huntington Voice, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 Real Life Rewards MC; FNBO Amex; Comenity Visa/MC (3), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (09/2017): EQ My Fico: 786; TU MyFico: 799; EX (My Fico): 797
Message 2 of 21
Swapmeet
Valued Contributor

Re: Topping out-- when do you stop?


@kroberts67 wrote:

I recently cancelled 2 store cards I don't see myself ever needing again.  I'm keeping open cards that either I will use and/or have a nice CL with no AF for UT purposes.  I make $65-70k/year and am left with a tad over 80k in total credit lines.  I don't need more credit, there are maybe 2 more cards I'd like to aquire for the rewards but as far as credit, I don't need any more.  I look at my open credit lines and I look at my income and I'm probably topping out as far as potential risk as far as creditors would be allowing, I'd think?  I stopped requesting with the store cards because I don't want to "top out" due to stupid little store cards having huge lines.  I mean, who needs more than $5200 at Penneys... and so on! Know what I mean? It's not needed, it's just a rush to get the congrats.

 

So my question is, when do you stop hitting those luv buttons?  Should I be concerned that Amex woudn't give me a CLI when I get to 181x, etc?


Never.                                                         Smiley Wink



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 3 of 21
BootStraps
Established Contributor

Re: Topping out-- when do you stop?


@emptypockets wrote:

It is enough when you feel it is enough to suit your needs. Many people have 4-5x their income in credit limits. As long as a person can handle it and not overspend, I don't see it as a problem. Many times, just by being responsible and paying on time, credit limits will grow on their own (auto CLI's). I have a few cards I will not try for CLI's on, because I don't see the point, I will never come close t using $12k at Walmart, for instance. However, lots of people seek CLI's for utilization purposes just in case they need to carry a balance; to help with getting higher limits on subsequent cards; or because taking part in these forums and building credit and getting new cards is addictive. Whatever their reason, if people do what works for them it is not a big deal.


+1

 

It's your journey. When you say it is enough, then it is enough.




Starting Score: All Under 590 (8/2011)
Current Score: Ex: 676 Eq: 681 Tu: 683
Goal Score: Ex: 725 Eq: 725 Tu: 725

Take the myFICO Fitness Challenge
Back in the Garden 4/22/16 Smiley Happy
Message 4 of 21
woodyman100
Valued Contributor

Re: Topping out-- when do you stop?


@BootStraps wrote:

@emptypockets wrote:

It is enough when you feel it is enough to suit your needs. Many people have 4-5x their income in credit limits. As long as a person can handle it and not overspend, I don't see it as a problem. Many times, just by being responsible and paying on time, credit limits will grow on their own (auto CLI's). I have a few cards I will not try for CLI's on, because I don't see the point, I will never come close t using $12k at Walmart, for instance. However, lots of people seek CLI's for utilization purposes just in case they need to carry a balance; to help with getting higher limits on subsequent cards; or because taking part in these forums and building credit and getting new cards is addictive. Whatever their reason, if people do what works for them it is not a big deal.


+1

 

It's your journey. When you say it is enough, then it is enough.


+10000

NFCU-ICCU-EECU-PSECU-DoverFCU-DCUFCU-Union Square FCU-Signature FCU-AODFCU-RedstoneFCU-USAllianceFCU-Amarillo National Bank-BHG MC-CapitalOne-CapitalOne Biz-Regions-Goldman Sachs (Apple/GM)-Evolve-Fifth Third-Gemini-Huntington-Imprint-USBank-Pinnacle-Cardless-John Deere-Discover-BofA-BofA Biz-Celtic Bank (M1)-Chase-Chase Biz-Amex-Amex Biz-Wells Fargo-Commerce-FNBO-Citi-Citi Biz-Synchrony-Synchrony Biz-Target TD-Third Coast Bank-USAA-Amegy-Amegy Biz-Dell-Citizens Biz-Comenity-Comenity Biz-Bread (Comenity)-DSNB-Webbank-Bill
Message 5 of 21
heyarrnold
Valued Contributor

Re: Topping out-- when do you stop?

Stop until they are not willing to give you more lol Smiley Happy Or once you're at a point that you feel like you have achieved your goals. If no more is needed, then just use your cards as you see fit and enjoy your successes. 

Message 6 of 21
Themanwhocan
Senior Contributor

Re: Topping out-- when do you stop?

I'm at the point where I don't need anymore credit. But, I'll still apply for a few credit card signup bonuses, and I have no problem closing the cards later.

 

But If you don't want to play that game, you can always sit pat and find something else to occupy your time. Perhaps Hulu.com ...





TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752    
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800
Message 7 of 21
TRC_WA
Senior Contributor

Re: Topping out-- when do you stop?


@emptypockets wrote:

It is enough when you feel it is enough to suit your needs. Many people have 4-5x their income in credit limits. As long as a person can handle it and not overspend, I don't see it as a problem. 


I make $80k... and only have about $25k in revolving credit limits.  I'm rebuilding and don't need more credit.

 

Back in the day I had CL equal to my annual income, after after losing my job in 2008 and living off my CL's due to FL's craptastic $275 weekly unemployment benefit not paying the bills, I ended up filing BK13.

 

One thing the experience taught me was paying with cash...  Will I ever approach CL's equal to my annual income?  I don't plan to.  Will I ever have a desire for 4-5x my income in CL's? Don't think so.

 

I pretty much pay with cash now... the CC util I have are long term 0% offers so I don't mind carrying a balance.  I just don't have a desire for $100-$400k in credit lines... even if I had an 850 score.  In the end, you still have to pay back what you borrow.

FICO8 current as of : ----- EQ: --- TU: --- EX: ---
Hard INQs last 12 months: EQ: 5 | TU: 7 | EX: 9
Verizon Visa $6500 Amex Delta Platinum $10,000 Care Credit $12,000
NFCU CashRewards $6000 Apple Card $2000 Best Buy $3500 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) $44k new - balance $31k/6.94%
Total CL: $45,000 --- Total CC UTI: --% --- AAoA: 5.5 years --- Income: $200k
Last app: 11-30-23
Message 8 of 21
nachoslibres
Established Contributor

Re: Topping out-- when do you stop?

I stop when I have enough credit on a card to keep from having to pay the card more than once a month.  So after getting $20k on the Arrival+ I stopped and both my Chase cards were approved at $15k which I will never hit so I will never ask for a CLI again.

Message 9 of 21
sccredit
Valued Contributor

Re: Topping out-- when do you stop?

You are the only one that can answer that.  I currently have more than $160k in unsecured lines which is basically 100% of my annual income.  

 

I am currently refinancing my house to save some bucks and time and after that will probably look at a couple sign up bonus options.

Message 10 of 21
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