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Valued Member
Jack_Sparrow
Posts: 44
Registered: ‎05-31-2007
0

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
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
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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.
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007
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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.


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