Moderator Emeritus
Posts: 16,385
Registered: ‎03-12-2007
Re: Credit Limit Calculations?


schwag wrote:
I'm not sure if this has been asked before, but I searched and couldn't find an answer.  So here goes:
 
How do CCC's determine how much credit they will grant you.  I am sure they all vary to some degree, but does anyone have a general idea of how this is done?
 
 
Thanks in advance!Smiley Happy


The three C's: Character, Capacity and Capital are huge!
 
 
1.) FICO scores, not FAKOs
2.) Payment history with CCs (character)
3.) Income (capacity)
4.) Debt to income
5.) Own property? (capital)
7.) They determine if you're a revolver or a PIF deadbeat
6.) They determine how much they can profit from you! This might be the most important  factor!Smiley Happy
 
There are other factors but I think these are the major ones.
Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa