topic Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed) in Credit Cards

What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Anonymous — Tue, 02 Oct 2007 22:43:42 GMT

No need to disclose any hh income figures, or CL.

What's the number that you get when you divide your total CL on credit cards, charge cards gas, store etc. by gross HH income?

What's the highest ratio for just one card?

My ratio for total = 0.71

My highest ratio for a single card = 0.15

Just like to play with numbers, maybe even find a trend?

edited for formula error

Message Edited by hdj on 10-02-2007 03:43 PM

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Anonymous — Tue, 02 Oct 2007 22:53:02 GMT

Interesting. I just did mine in approx. round numbers: 0.0225(just on my income alone and I'm married)

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Anonymous — Tue, 02 Oct 2007 22:58:29 GMT

On my income alone I am

1.28 for total CL, 0.28 for single card.

I guess I'm trying to find out if there's a chance to increase some of my cards to $20k levels

(I'm just trying whatever I can to reduce that nasty utilization of mine )

Message Edited by hdj on 10-02-2007 03:58 PM

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

scoreupper — Tue, 02 Oct 2007 23:02:17 GMT

hdj,

you will not find an accurate link due to variables suchs as income and not CC liabiliies.

It is standard in the business to issue a credit line that is 20% of applicants gross income for unsecured debt, depending on mix and credit grades.

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Anonymous — Tue, 02 Oct 2007 23:03:21 GMT

I'm sure it's possible but it will take time. How many cc's do you have now?

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

scoreupper — Tue, 02 Oct 2007 23:07:44 GMT

I think it is unhealhy to care that much credit card debt. You say you have over your annual income in available limit, but want to reduce the outstanding balance to the ? 1-9% range? If that is the case you need to take the energy and pay down the debt.

just my advice. example....you makee 100K per year if you have 13000 outstanding your in the 1-9% range thats healthy (but not prefered).

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

fused — Tue, 02 Oct 2007 23:13:54 GMT

My total CL/HHI ratio = 0.64

My highest sinlge CL/HHI ratio = 0.18

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

haulingthescoreup — Tue, 02 Oct 2007 23:34:20 GMT

my personal CL's / personal income = 0.71 (not including AU card)
my personal CL's / HHI = 0.31
DH + my CL's / HHI = 0.53

whoops, forgot the single card: 0.44 (that's sort of a lunatic CL, though)

Whee! Math puzzles!

Message Edited by haulingthescoreup on 10-02-2007 04:34 PM

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Anonymous — Tue, 02 Oct 2007 23:46:02 GMT

Scoreupper: I agree with paying down debt. I am throwing every dollar that I have towards it. For me it is going to take a while until I'm down to 9% (I have been bad, and I'm not making anywhere near 100K). I am just trying to tackle the utilization from both angles.

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Anonymous — Tue, 02 Oct 2007 23:49:41 GMT

Sorry, Diahen is my girlfriend who just signed up. I typed the message

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

MidnightVoice — Tue, 02 Oct 2007 23:58:45 GMT

My total CL/HHI ratio = <0.2

My highest sinlge CL/HHI ratio = <0.1

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Anonymous — Wed, 03 Oct 2007 08:47:50 GMT

(Borrowed from haulingthescoreup)

my personal CL's / personal income = 0.97 (not including AU card)
my personal CL's / HHI = 0.43
DH + my CL's / HHI = 0.82

single card = .29

I believe the trend is based on how the credit is used rather than HHI. PIF every month regardless of utilization is what I've seen consistently raise CLs.

Re: What's your total CL to HH income ratio on just credit cards? (no disclosure needed)

Anonymous — Wed, 03 Oct 2007 13:11:17 GMT

I'm so embarrassed, I want to go back to bed and pull the covers over my head. I threw out a totally outlandish figure, on that simple mathematical calculation. It should have been: 0.255, based on my total CL's and my annual income. Another grey moment(now where did I put that Clairol hair color)