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Posts: 2,295
Registered: ‎09-16-2011
Re: What factors used to determine credit limit?
[ Edited ]

firesoul453 wrote:

I don't think income has too much to do with it, atleast with chase and citi. My credit limit with chase is 20% of my income (and I only make 12500 a year) and citi gave more more than %40 of my income!

capital one on  the other hand, %6 of my income is the limit, and even with their yearly review, I don't qualify for a CLI


Yes income has a lot to do with your CL, sure it doesn't do much when  your just rebuilding or starting out with credit no one is going to give you more than a 2k CL no matter what your income is.   But once you have established a good payment history and a decent FICO score, your imcome will stand in the way of getting high CL cards.  Who is going to give you a 25k CL when th even the minimum payment is more than your net take home pay for the month.

Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 16.75k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5.5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5k, Walmart 10k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 11k and a nice stack of store cards.
Last APP/HP 4/22/2015