how much are you approved for?

[30sClub]

I'm curious to see if there are correlations between income, FICO, and debt that banks look at before approving for high CL. So far, I have noticed why reading the forums that there is an odd correlations between the three.

My experience thus far: I have an income of 45k last year, an increased of 15k from the previous year. I have installment debt of about 36k, and about 10k in revolving debt. I have been "gardening" since 2011. My recent FICO score was 746. I went and app for Amex Everyday, CSP, and BC Ring. They were all approved. 17k CSP, 10k BC Ring, and 2k Amex. I guess I didn't need the Amex other than to add to my porfoilo and backdating.

So what are your scores, income, and debt for approvals?

[ptilda]

It seems to me that it's related to history and competitive motivation. But you're probably right. I'm in the high 600s- low 700s. But just establishing cc history in the past 6 months. Suddenly limits are breaking 4 digits where before they were baby limits. Income 37k. Debt is 125k student loans (all in good standing).

[Stanic413]

I don't apply for cards often, but my income has increased with each spree I do.  My amount of debt is my biggest downfall.  Income almost $60k with $60k in student and auto loans, CC debt was around $6k. FICO scores below.  My last spree over a month ago resulted in highest CLs, two cards at $5,000.  Prior to that CLs were $1500-ish and income at that time was upper $40s. 

[azguy13]

There is absolutely a correlation between income, FICO score, and DTI. That does not mean that your income is included in your FICO score though. 

If you were a bank, would you give someone a $10K CL when they only make $20K a year and their DTI is 80% ?

In fact, this is a huge reason why whenever you app for either a new TL or a CLI, they ask your income AND rent/mortgage. This aids in figuring your DTI.