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Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
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Such thing as too much credit?

One thing my trying to understand is this...If I havebunch of big limits on a bunch of credit cards....when will CCC start to say they're afraid I've been over extended for my income? Will this ever catch up to me if I don't have a balance for a the part?

Valued Contributor
my-own-fico
Posts: 1,173
Registered: ‎01-05-2010
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Re: Such thing as too much credit?

I wouldn't worry about it. If you have all of those high credit limits in the first place, it's because you're a responsible borrower and of course continue to be so. I wouldn't let my Amex limits exceed something like a third of my income though.

 

TU 04 820 mortgage preapproval middle score
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Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Such thing as too much credit?

Lots of people here would like to have that problem!  I agree with My Own Fico, don't worry about, just don't max it out!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
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jamie123
Posts: 782
Registered: ‎03-22-2012
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Re: Such thing as too much credit?

The only time I've heard of anyone having a problem was when they applied for a mortgage. The mortgage company was nervous because the person didn't have a lot of history but had some huge credit lines. They were questioned by the mortgage company and that was about the end of it. The mortage company was just concerned that the customer would rush out and purchase some Rembrants to hang on the walls of their new house using their credit cards.



Starting Score: EQ 658 6/18/12
Current Score: EQ 683 8/24/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
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Established Contributor
cashnocredit
Posts: 1,012
Registered: ‎07-18-2009
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Re: Such thing as too much credit?


Objectivist wrote:

One thing my trying to understand is this...If I havebunch of big limits on a bunch of credit cards....when will CCC start to say they're afraid I've been over extended for my income? Will this ever catch up to me if I don't have a balance for a the part?


My gf was CLD'ed from 40k to 10k with a FICO score in the 820s and a perfect long record. That FICO score was post CLD! It was at the start of the financial crisis and was a pretty common practice even with very high FICO score customers if they didn't use their card much. She didn't. I doubt she ever charged more than $2k to it, always pif and had barely used it at all in the year before the CLD.

 

Banks don't like CLDs because it ticks off the customer but yes, you can have too much credit from a bank's pov.

 

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k

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