No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@Thomas_Thumb wrote:
Your assumption is wrong but, it is a good benchmark. I maintain an aggregate CL around 1X yearly income. That is sufficient to cover credit card charges without bumping up against limits and allows me to keep utilization low while allowing charges to report naturally on statements. There is no need to have total CL at multiples of yearly income to realize top tier credit scores.
Thanks for the explanation. I'm looking to increase my CL over the next year, and now have some numbers to shoot for. Other than a baddie that drops off in february, all of my stats are great. I expect to get over 800 once my utilization drops a bit more. Hoping to speed that up with a CLI or two.
In regards to the original intent of the thread.
Current high score 12800 with discover.
I am ~ $135,000.00, not counting biz TL's, which is less than my annual income and not counting DW's income. I am really happy with my CL's.
Edit: I have been adding commercial mortgages which I am not including in the above. I have also not added our personal mortgage which we will pay off once we close on a commercial mortgage in December.
15000 flat
Eight months. Started from 522, up to 650ish, see sig.
Update:
Came out of the garden and did some SP CLIs
Now at $123,850 -> waiting on my US Bank card to arrive to find out the CL
Income is really important. You're not likely to get a card with a $100,000 limit if you have a $20,000 income. However, people who are new to credit or starting a rebuild tend to start out with low limits that are pretty similar.
Note that income isn't part of scoring. It's considered separately.
@HeavenOhio wrote:Income is really important. You're not likely to get a card with a $100,000 limit if you have a $20,000 income. However, people who are new to credit or starting a rebuild tend to start out with low limits that are pretty similar.
Note that income isn't part of scoring. It's considered separately.
+1 on the importance of income. 12/14 : CL's were $20k, scores 690's. 10/17: CL's - $305K, scores 750 +/-. Notes: closed 5 cards this year; opened 1 new account this year; will take sp cli's when available (no other new apps). Back to the income: the higher your income is, the faster your limits can grow. Example: my cl with BOA is 76k off of a 125k income. I received a notification from them, on my last cl request and reallocation. No worries!
IMHO spending is more likely to get you a CLI then income. When I started to use my Apple card the doubled the CL after is was PIF. No income change.
@Anonymous wrote:Update:
Came out of the garden and did some SP CLIs
Now at $123,850 -> waiting on my US Bank card to arrive to find out the CL
SP CLI's are permitted, even encouraged, in the Garden.