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

[Anonymous]

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.

[mkhan1093]

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.

[Anonymous]

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.

[Anonymous]

Meanwhile I have about 8k on 130k income 

[Anonymous]

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@Anonymous wrote:

Meanwhile I have about 8k on 130k income 

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

[Anonymous]

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@Anonymous wrote:

Meanwhile I have about 8k on 130k income 

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

[mkhan1093]

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!

[Dalmus]

 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.

[Anonymous]

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@Dalmus wrote:

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

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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.)

[wa3more]

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.