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Who has the highest individual credit line?

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Anonymous
Not applicable

Who has the highest individual credit line?

I'm over a quarter million now.  Anyone higher?  Credit line is the name, FICO is my game.  Once you're hooked, it can be addictive.  I've found gardening sucks but it's critical for the game.

Message 1 of 36
35 REPLIES 35
Revelate
Moderator Emeritus

Re: Who has the highest individual credit line?


@Anonymous wrote:

I'm over a quarter million now.  Anyone higher?  Credit line is the name, FICO is my game.  Once you're hooked, it can be addictive.  I've found gardening sucks but it's critical for the game.


Single account?  100k is the maximum generally.

 

There are several people north of 250K, a more than a few over 500K, and I think 2-3 regulars upwards of 750K.  

 

It's not really a big deal around here frankly, limits are /shrug for anyone who understands how the algorithm works and isn't really a good measurement of anything other than chasing limits for limit's sake.




        
Message 2 of 36
Anonymous
Not applicable

Re: Who has the highest individual credit line?

After reviewing my post again, maybe it sounds competitive.  This was not my intention.  I garden throughout the year and usually decide to add a few hard inquiries in January.  I've practiced this for about three years now and I just thought a quarter-mill was a significant number.  I was curious on whether this was unusual or not....  From your answer I can see it's not unusual.  Thanks for responding.

Message 3 of 36
RobertEG
Legendary Contributor

Re: Who has the highest individual credit line?

Personally, I would never even consider actually going into credit card debt at anything even approaching those higher credit limits, and keeping % util down via reduce cc usage will do the scoring deed regardless of CL's.

I understand the benefit, even if not actually used, of higher CLs in increading the denominator in the % util calculation, but the same can be achieved by keeping the numerator (current balance) lower.

Multiple cards (now only 4) provides me all the spending flexibility when needed, and multiple smaller cards does more for me credit scoring wise, than higher CLs on any single card.

 

Thus, I dont seek and dont want higher CLs.

Message 4 of 36
Anonymous
Not applicable

Re: Who has the highest individual credit line?

The whole purpose of having a higher CL is giving a lower numerator with little impact on the fraction (debt / credit utilization) due to the inflated number in the denominator, which makes up 30% of the FICO.  For example, if you have an unexpected expense of let's say $1000 and use a credit card with a credit line of $5000, your utilization rate has increase to 20%.  However, this same $1000 expense would only report 2% on a credit card with a $50000 credit line, thus not affecting your FICO at all.  Many people will also say, "well I pay my balances off every month and don't have to worry about this problem".  I also pay my balances off every month, yet even though financial institutions report balances every month, each have their own methods of how and when they report for that said month.  I'd also like to mention I've had experiences where Discover and other companies have even skipped months.  Some report at the beginning and others report toward the end of the month.  Bottomline, your higher credit line insures your FICO score greater stability by keeping that (debt / credit line) numerator smaller with the inflated number in the denominator, thus increasing your spending power at the same time while only minimally (if at all) affecting your FICO.

Message 5 of 36
RonM21
Valued Contributor

Re: Who has the highest individual credit line?

Those are some high limits! I'd image most in that positon must be very financially and credit sound.


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 6 of 36
takeshi74
Senior Contributor

Re: Who has the highest individual credit line?


@Anonymous wrote:

Many people will also say, "well I pay my balances off every month and don't have to worry about this problem". 


Paying in full doesn't necessarily mean that no utilization reports.  It all depends on the timing of the payment versus report date.  One can pay in full and have high revolving utilization.

 


@Anonymous wrote:

yet even though financial institutions report balances every month, each have their own methods of how and when they report for that said month.


Most report on statement date.  Some others do not.  Sometimes a midcycle update takes place.  Report dates vary but there's not much in the way of different methods.

 


@Anonymous wrote:

 Bottomline, your higher credit line insures your FICO score greater stability by keeping that (debt / credit line) numerator smaller with the inflated number in the denominator, thus increasing your spending power at the same time while only minimally (if at all) affecting your FICO.


...and again, one can manage the numerator/balances as already pointed out.  I prefer not having to bother with it and that's why I've pushed my limits to a point.  However, it's not a must  -- and not always an option, depending on one's credit profile -- like you seem to be making it out to be.  Don't assume that what works for you works best for everyone regardless of topic.

Message 7 of 36
Thomas_Thumb
Senior Contributor

Re: Who has the highest individual credit line?


@RobertEG wrote:

Personally, I would never even consider actually going into credit card debt at anything even approaching those higher credit limits, and keeping % util down via reduce cc usage will do the scoring deed regardless of CL's.

I understand the benefit, even if not actually used, of higher CLs in increading the denominator in the % util calculation, but the same can be achieved by keeping the numerator (current balance) lower.

Multiple cards (now only 4) provides me all the spending flexibility when needed, and multiple smaller cards does more for me credit scoring wise, than higher CLs on any single card.

 

Thus, I dont seek and dont want higher CLs.


I prefer to accumulate wealth as opposed to credit cards and credit limits. Unfortunately, that has not been going according to plan. Smiley Sad

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 8 of 36
Anonymous
Not applicable

Re: Who has the highest individual credit line?

I agree... another variable regarding when you make payments vs when financials actually report and when FICO reflects it.

Message 9 of 36
Anonymous
Not applicable

Re: Who has the highest individual credit line?

"Paying in full doesn't necessarily mean that no utilization reports"

 

I agree.  You're agreeing with me by disagreeing.

 

"Most report on statement date. Some others do not."

 

I agree.  Again you're agreeing with me by disagreeing.

 

"one can manage the numerator/balances as already pointed out. I prefer not having to bother with it and that's why I've pushed my limits to a point. However, it's not a must -- and not always an option, depending on one's credit profile -- like you seem to be making it out to be"

 

Your argument is very moot.  You're basically repeating everything I suggested and then speaking in generalities.  Everyone understands this is only one of many variables with the individual and how they use credit.  I'm just stating a fact from experience.  The ratio matters alot since credit utilization is 30% of the score.  Again, the larger denominator offers greater spending power with minimal FICO variance.

 

Message 10 of 36
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