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How much total credit line do people really get compared to their income?

Regular Contributor

Re: How much total credit line do people really get compared to their income?

My income is currently ~27,500/yr at 21y/o and all my current CCs just in my name that are not AU accounts are in my signature. Totaled up, they come to 54,000 in available credit.

 

If adding the card(s) that I am AU on (Discover at 14,500 and Chase Ink 35,000), then my total available credit is at 103,500 if we are including AU accounts. Though, the Chase Ink doesn't show on my reports, but the 14,500 discover does. With just reported availables, with the AU, puts me at 68,500.

 

Depends on how far we can take it in terms of available credit.

In wallet: Citi DC, Discover IT, Chase Freedom, Blispay, and Bank of the West Cash Back MasterCard

Local CU (7,500) 11/15 | Discover (6,300) 03/16 | Capital One QS VS (12,000) 06/16 | AmEx BCP (24,300) 02/17 | Marvel MC (12,000) 03/17 | Citi DC (5,000) 03/17 | USBank Cash+ (5,400) 03/17 | Blispay (7,500) 03/17 | Chase Freedom (6,400) 03/17 | Bank of the West Cash Back MasterCard (4,000) 10/17
Regular Contributor

Re: How much total credit line do people really get compared to their income?

A lot of the posts I've seen regarding CLs indicated that once you get a high-CL card, subsequent cards are most likely to follow suit in order to be competitive but that actually has not happened for me. I got the Chase Sapphire Reserve @ 10k but each card I got after that had a CL of at most $2k. I'm hoping to CLI up to at least $10k citing the CSR but I do find it interesting that the banks didn't seem to care.

Senior Contributor

Re: How much total credit line do people really get compared to their income?

The presence of a single monster limit can have a benefit or a drawback with respect to other creditors... It can be argued two ways. One, other creditors may follow suit and raise limits or approve at higher limits as to compete with the monster line. Two, other creditors may feel they can't compete with that limit and/or may feel exposure is too high already based on that monster limit, so they may act conservatively. I think income in this situation plays a large role on which way this situation goes.
Valued Contributor

Re: How much total credit line do people really get compared to their income?

Meanwhile I have about 8k on 130k income Smiley LOL


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700
Senior Contributor

Re: How much total credit line do people really get compared to their income?


lowkeyorca wrote:

Meanwhile I have about 8k on 130k income Smiley LOL


Well, at least you know you could generate combined limits of about half a million dollars if you ever so desired... Smiley Wink

Valued Contributor

Re: How much total credit line do people really get compared to their income?


lowkeyorca wrote:

Meanwhile I have about 8k on 130k income Smiley LOL


I have 13k on 131k of income.  Either the extra 1k of income means a lot or you aren't a member of NCFU. 

BOA Cash Rewards, AMEX BCE, AMEX PRG, AMEX Ameriprise Platinum, AMEX SPG, CITI AADvantage Platinum, Chase Hyatt, Chase Southwest Premier, Chase Southwest Plus, Barclay Arrival +, Barclay AAdvantage Red Aviator, USAA Prefered Cash Rewards , Cap One Quicksilver, Lendup L card, JCrew, Pottery Barn, Express, NFCU Go Rewards.
Regular Contributor

Re: How much total credit line do people really get compared to their income?

I suppose it might be an income thing then: ~$20k limit with a $35k income (I'm in graduate school so maybe the student status is also the reason). Just going to hope that one or two CLIs pull through for me. Thanks again everyone for sharing your stories!

Established Contributor

Re: How much total credit line do people really get compared to their income?

 All together, I have about $108K potential credit on a household income of $95K.

 

 All my cards were $2K or less for a starting limit until NFCU gave me my surprise $14K SL.  Since then, AMEX and Cap1 both gave me new cards for $15K.   I think there is something to be said for certain banks wanting to compete for your respect in your wallet.   At the same time, I'm sure another more conservative underwriter will look at me and say "Whoah... he could possibly over extend himself WAY too easily... Denied!"

 

 For that remote fear, I'm cutting back on store cards and low limit majors... My overall goal is to have one or two good cards from each of the four networks spread across different banks.  I will never EVER put $108K on credit, but its nice to know that I have a $15K card to use for an emergency without maxing a card out.

My cards:

Amex BCE: $15K | Cap1 Venture: $18K | NFCU CR: $14.3K | Wells Fargo: $11K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | Discover IT: $6K | Sportsman's Guide: $5.9K | NRA: $5.5K | Legacy Visa: $2.75K | Elan Plat: $2.3K | Cap1 PS: 2K | Cabela's: $1K


Current Scores: EQ: 718 | TU: 742 | EX: 716

Community Leader
Senior Contributor

Re: How much total credit line do people really get compared to their income?


Dalmus wrote:

... I'm cutting back on store cards and low limit majors...


Smart choice IMO.  Both of those kinds of cards harm you in the scoring system used by the insurance industry.  (Though neither kind of card is penalized by FICO.)

Frequent Contributor

Re: How much total credit line do people really get compared to their income?

i'm also pretty low - about 7% credit available with a 6 figure income.

 

I had much more in 2009 , then lost a job, couple of businesses and got divorced. Defaulted on everything. Learned my lesson.

 

Now, mostly cash. Only credit is  a small cc and mortgage and now i have 3  scores of 830-840 with a very thin file. All bad stuff is gone.