topic Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen? in Credit Cards

Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

maddox74 — Sun, 26 Mar 2017 13:06:38 GMT

Thought I would post a specifically limited question that I was curious about. For people with 5-figure household income ($99k) or less, what is the highest total revolving credit lines amount that you have seen? And what is the highest single card limit you have seen for 5-figures or less income? I am curious because I imagine I am getting pretty high on the income to total credit line ratio, and I'm not sure how much more I can go without increasing my income.

My data point is below (and may go up a little, as I am likely going to up my Amex a little more soon, if I can):

Income: ~$70k

Current Cards/Lines:

US Bank Cash+ $21,100
Discover IT $26,000

Department Store $3,000
AMEX Blue Cash Everyday $39,000
NFCU Cash Rewards $24,900
NFCU Flagship Rewards $24,400
NFCU GoRewards $25,000
Penfed Promise Rewards $5,000
Penfed Platinum Cash Rewards $17,000
Penfed Platinum Rewards $22,700
Security Service Power Travel Rewards Mastercard $10,000
Security Service LOC $30,000
NFCU LOC $15,000
US Bank LOC $15,000
US Bank Overdraft $2,000
Penfed LOC $25,000

Total CL's: $305,100

Edit: Since posting this, I decided to go ahead and apply for the CLI on the Amex BCE, which was at $34k for the past year or so. I initially tried for $45k, and the site said it would require income verficiation. From reading on here that I can go back and back down the requested CLI until I get an instant approval, I tried $43k. Same income verification screen. Tried $41k, same. Tried $39k and got instant approval. So I've updated my personal list above with that new limit for that card.

Re: Largest Total Credit Limit and Single Card Limit You Have Seen For 5-figure and Less Income?

redpat — Sun, 26 Mar 2017 12:15:46 GMT

@maddox74 wrote:
Thought I would post a specifically limited question that I was curious about. For people with 5-figure income ($99k) or less, what is the highest total revolving credit lines amount that you have seen? And what is the highest single card limit you have seen for 5-figures or less income? I am curious because I imagine I am getting pretty high on the income to total credit line ratio, and I'm not sure how much more I can go without increasing my income.

My data point is below (and may go up a little, as I am likely going to up my Amex a little more soon, if I can):

Income: ~$70k

Current Cards/Lines:

US Bank Cash+ $21,100
Discover IT $26,000
Department Store $3,000
AMEX Blue Cash Everyday $34,000
NFCU Cash Rewards $24,900
NFCU Flagship Rewards $24,400
NFCU GoRewards $25,000
Penfed Promise Rewards $5,000
Penfed Platinum Cash Rewards $17,000
Penfed Platinum Rewards $22,700
Security Service Power Travel Rewards Mastercard $10,000
Security Service LOC $30,000
NFCU LOC $15,000
US Bank LOC $15,000
US Bank Overdraft $2,000
Penfed LOC $25,000

Total CL's: $300,100

You think, and why would you want more credit and a higher Amex? How much do your really run through your Amex? You can only afford to borrow so much.

If you have to ask then you already know.

If it's any consolation for you I'm in the high 100's and household income is well over 200k, EDP at 29k and run 3k - 7k a month and I have 127k CL's not counting business card mooore than enough, I could get more, but why?

I guess you can say you're credit richer than me, lol!

Good luck getting more that you can't use and sorry I had to vent.

Re: Largest Total Credit Limit and Single Card Limit You Have Seen For 5-figure and Less Income?

maddox74 — Sun, 26 Mar 2017 13:10:02 GMT

I didn't think that I was near as bad as some of the hardcore's on here (who game credit just for the game, which I am not), but I guess I'll explain myself if it makes you feel better

I know that I already have more than I could/should use. However, if you look at the cards that I got, I have focused on cards (for the most part) that have decent rates and no cash advance/balance transfer fees. In my line of business, it is helpful to have the capability to have significant liquid funds available, even if I don't use them regularly.

For example, right now I am near 0-3% utilization (I just maintain the use of the cards to maintain the credit scores), but I am cosidering using my available credit/lines for a short term to purchase a handful of cars. The cars will eventually be sold on a relatively short timeframe (2months to 2 years max), and I would rather use some of my available lines of credit, rather than getting a handful of additional car loans that might be paid off as soon as 2 months out. To do this, I am considering a 0% balance transfer for 12 months offer that I just got via email for my NFCU GoREWARDS (which I just applied for CLI to $50k, but I doubt I'll get that, considering I already have ~$90k of unsecured credit with them). Say, hypothetically, that my CLI is approved for $40k on that card, and that I take them up on the balance transfer offer for 12 months. By having my crazy high total credit limit (that total credit limit achieved in part by maximizing my other cards, like the Amex), I would then still be only around 13% total utilitization, in spite of having a $40k 'free loan' out for a full year.

Anywho, the only downside I can see with high credit lines (for people who aren't tempted to irresponsibly use more credit than they can afford to) is that it can possibly reflect negatively if/when I might need an important future loan for myself (like another mortgage). Outside of that consideration (too much credit reflecting poorly on future loans), I am not as averse as you seem to be to disproportionately large credit limits. To each their own

Re: Largest Total Credit Limit and Single Card Limit You Have Seen For 5-figure and Less Income?

redpat — Sun, 26 Mar 2017 13:03:41 GMT

@maddox74 wrote:
I didn't think that I was near as bad as some of the hardcore's on here (who game credit just for the game, which I am not), but I guess I'll explain myself if it makes you feel better

I know that I already have more than I could/should use. However, if you look at the cards that I got, I have focused on cards (for the most part) that have decent rates and no cash advance/balance transfer fees. In my line of business, it is helpful to have the capability to have significant liquid funds available, even if I don't use them regularly.

For example, right now I am near 0-3% utilization (I just maintain the use of the cards to maintain the credit scores), but I am cosidering using my available credit/lines for a short term to purchase a handful of cars. The cars will eventually be sold on a relatively short timeframe (2months to 2 years max), and I would rather use some of my available lines of credit, rather than getting a handful of additional car loans that might be paid off as soon as 2 months out. To do this, I am considering a 0% balance transfer for 12 months offer that I just got via email for my NFCU GoREWARDS (which I just applied for CLI to $50k, but I doubt I'll get that, considering I already have ~$90k of unsecured credit with them). Say, hypothetically, my CLI is approved for $40k on that card, and I take them up on the balance transfer offer for 12 months, by having my crazy high total credit limit (achieved in part by maximizing my other cards, like the Amex), I am able to still be at only around 13% total utilitization, in spite of having a $40k 'free loan' out for a full year.

Anywho, the only downside I can see with high credit lines (for people who aren't tempted to irresponsibly use more credit than they can afford to) is that it can possibly reflect negatively if/when I might need an important future loan for myself (like another mortgage). Outside of that consideration (too much credit reflecting poorly on future loans), I am not as averse as you seem to be regarding disproportionately large credit limits. To each their own

Using credit lines for business changes everything that wasn't stated on your first post. We have a businees line of credit for 250k if needed for working capital purposes. If you are using the credit lines to string along inventory(cars) until their sold then that is a good reason for doing so.

I wish you said that originally.

Re: Largest Total Credit Limit and Single Card Limit You Have Seen For 5-figure and Less Income?

maddox74 — Sun, 26 Mar 2017 13:17:21 GMT

@redpat wrote:

Using credit lines for business changes everything that wasn't stated on your first post. We have a businees line of credit for 250k if needed for working capital purposes. If you are using the credit lines to string along inventory(cars) until their sold then that is a good reason for doing so.
I wish you said that originally.

Are you a moderator, or do you by chance have any idea why my post that you quoted isn't showing for me in the actual thread (I can only see it in your reply, and it says that your last post is post #3, when it should be #4)?

Anywho, regarding my original post, with all due respect , I wasn't asking for advice or a critique on my uses or reasons/desire for having credit. I was asking for objective data points from other people as a reference (thank you for your contribution to the data btw, your data just doesn't fall within the set that I am seeking (>$99k household income), unfortuately).

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

Gmood1 — Sun, 26 Mar 2017 16:23:39 GMT

@maddox74 wrote:
Thought I would post a specifically limited question that I was curious about. For people with 5-figure household income ($99k) or less, what is the highest total revolving credit lines amount that you have seen? And what is the highest single card limit you have seen for 5-figures or less income? I am curious because I imagine I am getting pretty high on the income to total credit line ratio, and I'm not sure how much more I can go without increasing my income.

My data point is below (and may go up a little, as I am likely going to up my Amex a little more soon, if I can):

Income: ~$70k

Current Cards/Lines:

US Bank Cash+ $21,100
Discover IT $26,000
Department Store $3,000
AMEX Blue Cash Everyday $39,000
NFCU Cash Rewards $24,900
NFCU Flagship Rewards $24,400
NFCU GoRewards $25,000
Penfed Promise Rewards $5,000
Penfed Platinum Cash Rewards $17,000
Penfed Platinum Rewards $22,700
Security Service Power Travel Rewards Mastercard $10,000
Security Service LOC $30,000
NFCU LOC $15,000
US Bank LOC $15,000
US Bank Overdraft $2,000
Penfed LOC $25,000

Total CL's: $305,100

Edit: Since posting this, I decided to go ahead and apply for the CLI on the Amex BCE, which was at $34k for the past year or so. I initially tried for $45k, and the site said it would require income verficiation. From reading on here that I can go back and back down the requested CLI until I get an instant approval, I tried $43k. Same income verification screen. Tried $41k, same. Tried $39k and got instant approval. So I've updated my personal list above with that new limit for that card.

You still have some wiggle room. lol

There are several members here within that income bracket pushing a half million in tradelines.

I'm not here to judge you. You do not have to explain yourself to ANYONE. You are apparently a grown man or woman. Either answer the original question or don't bother at all. lol

Now back to your original questions. I'm too lazy to list all of my cards. I do fall within that income bracket.

Last check was $417,000 or there abouts. Highest limit on one card is $49,500.

Congrats on your Amex CLI!

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

Anonymous — Sun, 26 Mar 2017 13:55:39 GMT

To answer the question of the OP, I think around $500k is the highest I've seen with someone with a sub six-figure income. I think about 5X one's income is more or less the highest their total limits can go. If there is an outlier out there I'd like to hear about them, though.

I understand people being judgemental about those with very high credit limits relative to their income. They however need to understand that it's not their profile and some people simply like to push their limits for whatever reason.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

maddox74 — Sun, 26 Mar 2017 14:01:35 GMT

@Gmood1 wrote:
Highest limit on one card is $49,500.

What card is that, if you don't mind me asking?

Re: Largest Total Credit Limit and Single Card Limit You Have Seen For 5-figure and Less Income?

redpat — Sun, 26 Mar 2017 14:14:29 GMT

@maddox74 wrote:
@redpat wrote:
Using credit lines for business changes everything that wasn't stated on your first post. We have a businees line of credit for 250k if needed for working capital purposes. If you are using the credit lines to string along inventory(cars) until their sold then that is a good reason for doing so.
I wish you said that originally.
Are you a moderator, or do you by chance have any idea why my post that you quoted isn't showing for me in the actual thread (I can only see it in your reply, and it says that your last post is post #3, when it should be #4)?

Anywho, regarding my original post, with all due respect , I wasn't asking for advice or a critique on my uses or reasons/desire for having credit. I was asking for objective data points from other people as a reference (thank you for your contribution to the data btw, your data just doesn't fall within the set that I am seeking (>$99k household income), unfortuately).

No and no clue why it's gone.

Thanks for letting rant for no reason.......It's does help to be more descriptive when asking questions though.

Re: Largest Total Credit Limit and Single Card Limit You Have Seen For 5-figure and Less Income?

Anonymous — Sun, 26 Mar 2017 14:27:19 GMT

Pretty impressive. I suspect your scores are upper 700's? Would you mind sharing your stats ?

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

Gmood1 — Sun, 26 Mar 2017 14:27:23 GMT

@maddox74 wrote:
@Gmood1 wrote:
Highest limit on one card is $49,500.

What card is that, if you don't mind me asking?

That would be my Capital One QS.

Next highest is Lowes at $35K

then Amex $32,300

I have seven others that avg in the $20K range.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

Anonymous — Sun, 26 Mar 2017 14:30:28 GMT

There is alittle room to grow, I have seen people with 100K salaries and have 50K limit on a single card. Some of the cards you have can go up to 80K or higher.

Just a word of caution though although most of your cards are not known for heavy AA, you can always be denied for new credit or have AA for having too much available credit.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

mkhan1093 — Sun, 26 Mar 2017 15:31:37 GMT

That's amazing, OP! I obviously agree with people here who say that you don't "need" that much credit, but I am of the opinion that it doesn't hurt to have more since it decreases UTL. Of course, there is the stipulation that you are extremely responsible and don't max out even a single card / whatever you can't afford.

May I ask whether these are all SL's or if you did a lot of CLI's?

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

Discover2016 — Sun, 26 Mar 2017 15:45:19 GMT

The only time I have seen where having so much credit in relation to income be an issue is when you apply for a mortgage.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

gdale6 — Sun, 26 Mar 2017 16:29:06 GMT

I want to to remind everyone that flaming and nonFSR posts are not allowed here on myFico. Multi posts have been removed and the individuals will be contacted by PM. Please remember our TOS when you post and to those of you do I thank you.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

Anonymous — Sun, 26 Mar 2017 16:38:20 GMT

57k from discover, but I asked for it to be decreased to 49k. Chase also offered 40k when I asked for a CLI, but I didn't need so much so I asked for 20k. Penfed offered four 50K credit cards when I got an auto loan from them, but I declined.

I have 3 credit cards, 80k credit line between the 3, that's enough for me. Income is high 90s.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

Anonymous — Sun, 26 Mar 2017 16:54:28 GMT

@mkhan1093 wrote:
That's amazing, OP! I obviously agree with people here who say that you don't "need" that much credit, but I am of the opinion that it doesn't hurt to have more since it decreases UTL. Of course, there is the stipulation that you are extremely responsible and don't max out even a single card / whatever you can't afford.

May I ask whether these are all SL's or if you did a lot of CLI's?

I would venture to guess that most of the cards received CLIs at some point.

Also, it's a misconception that additional credit decreases utilization. With low credit limits, this can definitely be true but once you reach a certain point it's simply not the case.

Utilization in the 1%-9% range is generally scored equally. Unless you're talking someone that carries significant balances, the difference between $100k in credit lines or $300k in credit lines is meaningless with respect to FICO scoring or aggregate utilization. Say that person has $9000 in balances. That's 9% utilization at $100k in credit lines or 3% in $300k in credit lines. Both of these percentages land in the ideal range and are scored in theory equally. And, $9000 is a pretty high number too. With most Transactor's you won't find anywhere near that amount of balances reported at any given time IMO.

I'm just saying that once someone with sub 6-figure income reaches around $100k in credit lines, pushing those limits higher really isn't going to be a factor with respect to utilization, generally speaking.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

BronzeTrader — Mon, 27 Mar 2017 00:53:30 GMT

@maddox74 wrote:
Thought I would post a specifically limited question that I was curious about. For people with 5-figure household income ($99k) or less, what is the highest total revolving credit lines amount that you have seen? And what is the highest single card limit you have seen for 5-figures or less income? I am curious because I imagine I am getting pretty high on the income to total credit line ratio, and I'm not sure how much more I can go without increasing my income.

My data point is below (and may go up a little, as I am likely going to up my Amex a little more soon, if I can):

Income: ~$70k

Current Cards/Lines:

US Bank Cash+ $21,100
Discover IT $26,000
Department Store $3,000
AMEX Blue Cash Everyday $39,000
NFCU Cash Rewards $24,900
NFCU Flagship Rewards $24,400
NFCU GoRewards $25,000
Penfed Promise Rewards $5,000
Penfed Platinum Cash Rewards $17,000
Penfed Platinum Rewards $22,700
Security Service Power Travel Rewards Mastercard $10,000
Security Service LOC $30,000
NFCU LOC $15,000
US Bank LOC $15,000
US Bank Overdraft $2,000
Penfed LOC $25,000

Total CL's: $305,100

Edit: Since posting this, I decided to go ahead and apply for the CLI on the Amex BCE, which was at $34k for the past year or so. I initially tried for $45k, and the site said it would require income verficiation. From reading on here that I can go back and back down the requested CLI until I get an instant approval, I tried $43k. Same income verification screen. Tried $41k, same. Tried $39k and got instant approval. So I've updated my personal list above with that new limit for that card.

Why do you need that much credit line?? Puzzling.

I know folks fake income to get high credit lines.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

BronzeTrader — Mon, 27 Mar 2017 01:01:55 GMT

Also, I want to add that, I've been reducing my existing CLs for some time. High credit line is actually a burden to some people. It prevents you from getting more credit. In particularly I have to control my total CL with Chase and AmEx. Maybe someday, I want to apply the AmEx Plat with 100k bonus. Or some day deal like CSR #2 comes along. I'll need the room to apply.

I still have the $50k CL on my CSR, and reduced all other Chase card CLs.

Re: Under $99k Income, Largest Total Credit Limit and Single Card Limit You Have Seen?

Anonymous — Mon, 27 Mar 2017 01:15:41 GMT

@BronzeTrader wrote:
Also, I want to add that, I've been reducing my existing CLs for some time. High credit line is actually a burden to some people. It prevents you from getting more credit. In particularly I have to control my total CL with Chase and AmEx. Maybe someday, I want to apply the AmEx Plat with 100k bonus. Or some day deal like CSR #2 comes along. I'll need the room to apply.

I still have the $50k CL on my CSR, and reduced all other Chase card CLs.

You do realize Amex Platinum is a charge card and thus has no limit - so it wouldn't be affected by revolving Amex exposure

I'm still confused why anyone asks "why do you need that much credit?" Nobody 'needs' any credit. It is both a convenience and a fun hobby for some of us.

I'm about 3x my salary as personal credit, shooting for 4x this year just because it's fun to build up. I'm not buying a house or car in the near future so there's not any terribly compelling reason to stop building.