Valued Contributor
rootpooty
Posts: 1,611
Registered: ‎10-28-2011
CL to income question. Who's CL exceeds income

‎12-03-2012 07:05 PM

Kinda hard to explain what im looking for in the title actually.  Obviously income plays a major role in determining credit but how big of a role does it actually play?

 

My case for example my income is 50k (not great but not terrible) and my available credit is around 12k which in my opinion is plenty but I could always use more luv!

 

Obviously there is going to be a halt in the CLI's in the near future for me but im wondering where is the halt going to be.

 

Who here has their available credit near or higher than their income?

 

My goal is to have 25k in available credit and wondering if thats possible due to my income.

NFCU plat 5k | NFCU cashrewards 3k | Chase Freedom 1.5k |
BOA 123 1k | Amazon 1600 | Walmart 900

On the prowl for Chase Sapphire Preferred!
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Established Contributor
TNTransplant
Posts: 685
Registered: ‎01-03-2012
Re: CL to income question. Who's CL exceeds income
[ Edited ]

‎12-03-2012 07:18 PM - edited ‎12-03-2012 07:22 PM

It's more than possible.

 

There are many people I've read about on this and other forums that have a total CL =/> their income.

 

It just happened to me this year (= to), and you should have no problems getting your total CL to 1/2 your salary.

 

Good luck!  :smileyhappy:

Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:May 2013: EQ - 749, TU08 - 753, EX - 741 (Amex 4/13)
Goal Score: 760 on each by 12/31/13, Last app - 4/1/13

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Valued Contributor
youngandcreditwrthy
Posts: 3,777
Registered: ‎08-16-2012
Re: CL to income question. Who's CL exceeds income

‎12-03-2012 07:19 PM

My total credit lines are > than my income, but I won't say by how much :-P

I think credit management is more important. As in, if you have a $12,000 Lowe's acct...barely use it and pif. It's very important to have several positive trade lines and high cls to prove you can manage high cls. If you have a bunch of high cls, don't use them lol. It's all about self control!!!

:-)
Paypal Extras Plat MC $25k | Lowe's $12k | Amex BCE $10.5K | WMT Discover $15k | Ban Repub Visa $14k | Dillard's $10k | Travelocity Amex $7.7k | JCP $6.5K | Smile Gen $6.25k | Freedom Visa $5k | Citi Dia Pref $5k | C1 No Hassle Cash Visa $5k | Discover IT $4.75k | Amazon Store $10k | ANFitch $2.95k | Express $3.05K | Chevron $2.1k | Orchard Gold $1.7k
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Regular Contributor
mikka1
Posts: 228
Registered: ‎12-28-2011
Re: CL to income question. Who's CL exceeds income

‎12-03-2012 07:25 PM

You know, just earlier today out of curiosity I made a small spreadsheet calculating my available CLs + some other parameters (overall util, debt-to-income etc). Apparently, with income similar to yours (~55k) and length of my credit history of a little bit more than a year I currently have ~23k in available credit across all cards and I doubt I reached my overall limit. 

 

Just as a kind of benchmark - one of my relatives with 150k-ish income claims to have around 100k in available credit on cards (not including home equity lines etc) in addition to mortgage and auto loan. He has spotless history of 15+ yrs as far as I know. 

In my wallet now: Amex PRG NPSL, Amex BCE $6k, CSP $6k, Chase United ME $5k, Citi Dividend $4.5k, Discover It $4k and a handful of other cards...
TU March 2013 - 733 April 2013 - 728 (keep falling down after tons of recent inquiries and carrying some balance)
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Yoshimune
New Member
Yoshimune
Posts: 5
Registered: ‎11-29-2012
Re: CL to income question. Who's CL exceeds income

‎12-03-2012 07:43 PM

My credit limits exceed my income, but no individual lender is exposed for more than a third of my income.

 

My income is much less than yours.

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Established Contributor
kevinjjc
Posts: 874
Registered: ‎01-14-2009
Re: CL to income question. Who's CL exceeds income

‎12-03-2012 08:01 PM

I currently have about 188k in revolving credit (LOC's and CC's). Let's just say that's more than 4x my annual salary.

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Established Contributor
kevinjjc
Posts: 874
Registered: ‎01-14-2009
Re: CL to income question. Who's CL exceeds income

‎12-03-2012 08:11 PM

kevinjjc wrote:

I currently have about 188k in revolving credit (LOC's and CC's). Let's just say that's more than 4x my annual salary.

Just in case you're wondering, I have 40k in LOC's (25k PenFed, 15k Navy Federal).

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Valued Contributor
rootpooty
Posts: 1,611
Registered: ‎10-28-2011
Re: CL to income question. Who's CL exceeds income

‎12-03-2012 08:22 PM

Thanks for the replies.  I havent seen any much talk of CL exceeding incomes so I figured I would ask.  I need to get a LOC with NFCU im sure that will help me out as well.

NFCU plat 5k | NFCU cashrewards 3k | Chase Freedom 1.5k |
BOA 123 1k | Amazon 1600 | Walmart 900

On the prowl for Chase Sapphire Preferred!
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Valued Contributor
youngandcreditwrthy
Posts: 3,777
Registered: ‎08-16-2012
Re: CL to income question. Who's CL exceeds income

‎12-03-2012 08:24 PM

I have like $100k in avail credit haha :-P
Paypal Extras Plat MC $25k | Lowe's $12k | Amex BCE $10.5K | WMT Discover $15k | Ban Repub Visa $14k | Dillard's $10k | Travelocity Amex $7.7k | JCP $6.5K | Smile Gen $6.25k | Freedom Visa $5k | Citi Dia Pref $5k | C1 No Hassle Cash Visa $5k | Discover IT $4.75k | Amazon Store $10k | ANFitch $2.95k | Express $3.05K | Chevron $2.1k | Orchard Gold $1.7k
(342 Views)
 
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
Re: CL to income question. Who's CL exceeds income

‎12-03-2012 08:25 PM

I'm right about at my income, that's not including NavChek and Amex 3x coming up soon :smileyvery-happy:


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
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