Total Credit Limit

[sge760]

Other than having a few 30 day lates and a charge off, (have to continue to goodwill), the USAA score estimator predicts a total credit limit of over $2000 will provide a good boost, and a total credit limit of over $5000 will provide an even better boost in score - (because it is easier to maintain low credit limits).

I know those estimators aren't always accurate. Would you all agree that this is true information?  I don't want to waste an inquiry on obtaining a secured card if it really won't help me.  (I need to wait a bit longer to request credit limit increases for the cards)

Credit Mix:  

Revolving:2 credit cards - $300 each ($600 total) (utilization: 2% on 1 card, $0 balance on other)

Installment:1 student loan - never late 

I am also an authorized user for my father's AMEX with a limit of $20,000.  His card boosts my AAoA, but it doesn't help my total credit limit or my utilization.

[DaveSignal]

No, its not correct.  FICO doesn't care about your credit limits, only your utilization %.

However, if you have cards with higher limits ($5k is a good number), future creditors will approve you for cards with similar or higher credit limits.

[Repo-ed]

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@sge760 wrote:

Other than having a few 30 day lates and a charge off, (have to continue to goodwill), the USAA score estimator predicts a total credit limit of over $2000 will provide a good boost, and a total credit limit of over $5000 will provide an even better boost in score - (because it is easier to maintain low credit limits).

I know those estimators aren't always accurate. Would you all agree that this is true information?  I don't want to waste an inquiry on obtaining a secured card if it really won't help me.  (I need to wait a bit longer to request credit limit increases for the cards)

Credit Mix:  

Revolving:2 credit cards - $300 each ($600 total) (utilization: 2% on 1 card, $0 balance on other)

Installment:1 student loan - never late 

I am also an authorized user for my father's AMEX with a limit of $20,000.  His card boosts my AAoA, but it doesn't help my total credit limit or my utilization.

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How so?  You do not show a CL of 20k on your Amex TL?

[sge760]

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@Repo-ed wrote:

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@sge760 wrote:

Other than having a few 30 day lates and a charge off, (have to continue to goodwill), the USAA score estimator predicts a total credit limit of over $2000 will provide a good boost, and a total credit limit of over $5000 will provide an even better boost in score - (because it is easier to maintain low credit limits).

I know those estimators aren't always accurate. Would you all agree that this is true information?  I don't want to waste an inquiry on obtaining a secured card if it really won't help me.  (I need to wait a bit longer to request credit limit increases for the cards)

Credit Mix:  

Revolving:2 credit cards - $300 each ($600 total) (utilization: 2% on 1 card, $0 balance on other)

Installment:1 student loan - never late 

I am also an authorized user for my father's AMEX with a limit of $20,000.  His card boosts my AAoA, but it doesn't help my total credit limit or my utilization.

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How so?  You do not show a CL of 20k on your Amex TL?

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No it doesn't show the 20k on the tradeline. It just says "Open in 1993"...$0 balance.

The credit summary shows my utilization is $6 out of $600 being used.   It does not include the $20,000 limit from my father's card.