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Contributor
hdj
Posts: 95
Registered: ‎06-12-2007

What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

[ Edited ]
No need to disclose any hh income figures, or CL.
 
What's the number that you get when you divide your total CL on credit cards, charge cards gas, store etc. by gross HH income?
 
What's the highest ratio for just one card?
 
My ratio for total = 0.71
My highest ratio for a single card = 0.15
 
Just like to play with numbers, maybe even find a trend? :smileywink:
 
edited for formula error


Message Edited by hdj on 10-02-2007 03:43 PM
Senior Contributor
Sylviatob
Posts: 4,596
Registered: ‎09-14-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Interesting. I just did mine in approx. round numbers: 0.0225(just on my income alone and I'm married)
"Never ever, ever be late. Never" (FUTR)
Contributor
hdj
Posts: 95
Registered: ‎06-12-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

[ Edited ]
On my income alone I am
 
1.28 for total CL, 0.28 for single card.
 
I guess I'm trying to find out if there's a chance to increase some of my cards to $20k levels
 
(I'm just trying whatever I can to reduce that nasty utilization of mine :smileyhappy:)


Message Edited by hdj on 10-02-2007 03:58 PM
Established Member
scoreupper
Posts: 49
Registered: ‎04-27-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

hdj,
 
you will not find an accurate link due to variables suchs as income and not CC liabiliies.
 
It is standard in the business to issue a credit line that is 20% of applicants gross income for unsecured debt, depending on mix and credit grades.
TU EQ EX 687 659 689 11/5/2007
700 669 689 12/7/2007
Senior Contributor
Sylviatob
Posts: 4,596
Registered: ‎09-14-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

I'm sure it's possible but it will take time. How many cc's do you have now?
"Never ever, ever be late. Never" (FUTR)
Established Member
scoreupper
Posts: 49
Registered: ‎04-27-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

I think it is unhealhy to care that much credit card debt. You say you have over your annual income in available limit, but want to reduce the outstanding balance to the ? 1-9% range? If that is the case you need to take the energy and pay down the debt.
 
just my advice. example....you makee 100K per year if you have 13000 outstanding your in the 1-9% range thats healthy (but not prefered).
TU EQ EX 687 659 689 11/5/2007
700 669 689 12/7/2007
Moderator Emeritus
fused
Posts: 16,194
Registered: ‎03-12-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

My total CL/HHI ratio = 0.64
My highest sinlge CL/HHI ratio = 0.18
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Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

[ Edited ]
my personal CL's / personal income = 0.71 (not including AU card)
my personal CL's / HHI = 0.31
DH + my CL's / HHI = 0.53

whoops, forgot the single card: 0.44 (that's sort of a lunatic CL, though)

Whee! Math puzzles!

Message Edited by haulingthescoreup on 10-02-2007 04:34 PM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
New Visitor
diahen
Posts: 1
Registered: ‎10-02-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Scoreupper: I agree with paying down debt. I am throwing every dollar that I have towards it. For me it is going to take a while until I'm down to 9% (I have been bad, and I'm not making anywhere near 100K). I am just trying to tackle the utilization from both angles.
Contributor
hdj
Posts: 95
Registered: ‎06-12-2007

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Sorry, Diahen is my girlfriend who just signed up. I typed the message

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