topic Re: how much open credit line is too much? in Credit Cards

how much open credit line is too much?

RyGuy4690 — Sun, 08 Feb 2015 04:53:23 GMT

general question...

how much open credit line is too much?

Re: how much open credit line is too much?

Skye12329 — Sun, 08 Feb 2015 05:00:40 GMT

Simple depends how much can you handle/need/income.

Like some people have more credit than income but some lenders might decline because of that. Do you need like 100k in credit? How much are using?

Re: how much open credit line is too much?

RyGuy4690 — Sun, 08 Feb 2015 05:03:03 GMT

@Skye12329 wrote:
Simple depends how much can you handle/need/income.

Like some people have more credit than income but some lenders might decline because of that. Do you need like 100k in credit? How much are using?

In credit card bals just about like 5-6k out of a total 55k or so avaliable CL on all my cards

I do not need 100k in credit

I am not planing on getting anymore anytime soon

A mortgage few years down the road

Re: how much open credit line is too much?

Skye12329 — Sun, 08 Feb 2015 05:05:48 GMT

@RyGuy4690 wrote:

@Skye12329 wrote:
Simple depends how much can you handle/need/income.

Like some people have more credit than income but some lenders might decline because of that. Do you need like 100k in credit? How much are using?
In credit card bals just about like 5-6k out of a total 55k or so avaliable CL on all my cards
I do not need 100k in credit
I am not planing on getting anymore anytime soon
A mortgage few years down the road

They were more just general questions to answer your question

Like in my opinion its too much credit if you cannot handle or need it. So i currently have 22k in available credit or something around those lines. I am going to be cancelling roughly 7k of it because i dont need it.

Re: how much open credit line is too much?

Kostya1992 — Sun, 08 Feb 2015 05:07:41 GMT

Whatever is enough to get a mansion, a few lambos and other cool/fun things like housemaids.

Re: how much open credit line is too much?

Skye12329 — Sun, 08 Feb 2015 05:08:51 GMT

@Kostya1992 wrote:
Whatever is enough to get a mansion, a few lambos and other cool/fun things like housemaids.

Wouldnt that technically lead to debt if you cannot afford it? My state doesnt allow cars to be bought with credit, and i dont think the housemaid would appreciate that either.

Re: how much open credit line is too much?

Anonymous — Sun, 08 Feb 2015 06:04:49 GMT

@RyGuy4690 wrote:
general question...
how much open credit line is too much?

I don't know. Barclay does, maybe you should call them. At least, they knew last year, when declining me for a card and using the excuse that I had too much open credit.

Re: how much open credit line is too much?

Kostya1992 — Sun, 08 Feb 2015 09:03:12 GMT

Skye, cash cards are your friend when you are initiating the ultimate cashout.

Re: how much open credit line is too much?

taxi818 — Sun, 08 Feb 2015 13:48:42 GMT

Maybe 1.000.000 too much. But at that point who cares. Seriously. I saw fico member with 800k available. Util was at 10% I was like **bleep**. What the puck.

Re: how much open credit line is too much?

Anonymous — Sun, 08 Feb 2015 14:33:44 GMT

50k total limit across 15 cards. Not feeling enough.

Re: how much open credit line is too much?

b_diddy — Sun, 08 Feb 2015 14:46:20 GMT

Credit capacity is definitely different than actual debt ... a mortgage lender once told me that her ears really go up if a person has > 2.5 times open TL's (capacity) than their annual salary, or > 30% CC debt.

Re: how much open credit line is too much?

EW800 — Sun, 08 Feb 2015 15:08:13 GMT

I have revolving credit lines that total about $76K, with income of about $110K. I think I actually have too much available credit, as I only charge maybe $1500 a month and always PIF before the statement cuts (except for one account, for maximum scoring). I do not need anywhere near what I have, but I know that it can look good to show that I am handling this CL responsibly, especially with the financial issues that my wife and I went through about three years ago.

Re: how much open credit line is too much?

Anonymous — Sun, 08 Feb 2015 15:18:06 GMT

When I was younger, one credit card was too much. Now I think I would be happy with half my income in CL.

Re: how much open credit line is too much?

ezdoesit — Sun, 08 Feb 2015 15:26:29 GMT

I think this is a hard question to ask too much open credit for who? If it is the borrower then that is a personal choice. IMO my definition of to much would be if you started to get declined for credit cards based on too much available credit.

My income is about 180k with 135k open credit between 5 cards not more than my annual salary but more than I feel I need. So I might close one that I am not using much.