cancel
Showing results for 
Search instead for 
Did you mean: 

Credit lines vs income

Valued Member

Credit lines vs income

I can never find info on this topic so I have to ask. Is it bad to have more of a credit line than your annual income? Is there a certain percent of your income you should have as a CL? Just wonderi.ng for future reference
2 REPLIES
Senior Contributor

Re: Credit lines vs income

Some people have 8-10 times their annual income. Sick huh? If you can get your available credit up to 1-1 that's pretty good I would think.
Highlighted
Moderator Emeritus

Re: Credit lines vs income



Jack_Sparrow wrote:
I can never find info on this topic so I have to ask. Is it bad to have more of a credit line than your annual income? Is there a certain percent of your income you should have as a CL? Just wonderi.ng for future reference


 
Not sure about that.  Some companies will issue you new credit simply based on your credit score and the amount of your exisitng lines.  I have filled out apps that didn't even ask for income though I though it strange.