topic Re: Credit limit with one lender/bank in Credit Cards

Credit limit with one lender/bank

Anonymous — Wed, 09 Sep 2020 08:50:35 GMT

What is the maximum credit limit across all cards from one lender that lenders will allow as a percentage of income? Amex, Chase, Citi, all the big name cc issuers here

Re: Credit limit with one lender/bank

Shooting-For-800 — Wed, 09 Sep 2020 11:35:00 GMT

I would think it is a sliding scale.

50%+ should be optainable for decent income.

Re: Credit limit with one lender/bank

coldfusion — Wed, 09 Sep 2020 12:11:50 GMT

criteria is different for lowish or really high income but for Chase general rule of thumb seems to be 30% of yearly gross, 40% if they really like you, 50% if you're a truly Top Tier client.

AMEX will go higher than that on revolvers but isn't shy about requesting a 4506-T authorization. Charge cards will factor in your recent spend and payment history.

BoA will make exceptions (there are a few of us on the site that are examples) but generally caps at $99,900 total CL across all cards.

Re: Credit limit with one lender/bank

coldfusion — Wed, 09 Sep 2020 12:17:12 GMT

PenFed $50K across all cards

NFCU $80K across all cards

Re: Credit limit with one lender/bank

M_Smart007 — Wed, 09 Sep 2020 12:55:09 GMT

@coldfusion wrote:
PenFed $50K across all cards
NFCU $80K across all cards

Or a single card

Re: Credit limit with one lender/bank

NoMoreE46 — Wed, 09 Sep 2020 12:58:48 GMT

I was > 40% with CapOne until its recent CLD measures.

Re: Credit limit with one lender/bank

Hoben02 — Wed, 09 Sep 2020 13:49:13 GMT

In my experience barclay is very stingy with overall limits every time I got a different card with them I had to reduce my credit limit on another card. And the overall credit limit is far less then what I have with the major issuers

Re: Credit limit with one lender/bank

Tonya-E — Wed, 09 Sep 2020 14:06:18 GMT

@Hoben02 wrote:
In my experience barclay is very stingy with overall limits every time I got a different card with them I had to reduce my credit limit on another card. And the overall credit limit is far less then what I have with the major issuers

Barclay is a bit more reserved with limits. They started me at 19k initially though which wasn't bad. I did a HP increase a few years later to do a bigger BT. I think it was to 22k. Then once paid off they gave me an auto CLI of $4300. Card sits at 21% relative to my income. Last increase was in 2015. I think they cap at 30% but could be wrong.

Re: Credit limit with one lender/bank

Aim_High — Wed, 09 Sep 2020 19:19:28 GMT

@coldfusion wrote:
criteria is different for lowish or really high income but for Chase general rule of thumb seems to be 30% of yearly gross, 40% if they really like you, 50% if you're a truly Top Tier client.

AMEX will go higher than that on revolvers but isn't shy about requesting a 4506-T authorization. Charge cards will factor in your recent spend and payment history.

BoA will make exceptions (there are a few of us on the site that are examples) but generally caps at $99,900 total CL across all cards.

+1 ... It can be all over the map between major lenders. Chase does seem to be dependent on profile and I know them well since they are my largest single lender. They would seem to like me "pretty well" per @coldfusion's definition since my high limits are still only about 38% of individual income. And that is without current banking or investment accounts with them. Bank of America seems to be pretty stict about whom they allow to break their glass ceiling of $99.9K and I'm not there yet even though much higher with Chase overall. Wells Fargo and US Bank are two of the other largest US banks that seem even more conservative about starting and overall limits. My understanding with CITI is that they are somewhere in-between Chase/Bank of America and Wells Fargo/US Bank for most clients. But as with most of the larger banks, if you're a private banking client (such as with Citi, their CitiGold program), limits may vary.

And then there are those like Navy FCU and some others that may allow your credit limits to exceed annual income, especially for lower income profiles as some have reported.

Some of the factors that influence individual and total credit limits can include:

Assets with the financial institution
Length of time as a bank client
Amount of spend-and-pay you've demonstrated
Credit Score
Income
Debts and Debt-to-income
Type of cards you carry. (My personal opinion and observation is that cards that have higher AFs, travel cards, and sometimes business cards may be rewarded by lenders with higher SLs which could help bolster your total credit limits with them. For my own example, on five new cards with Chase over 18 months I was given my higher SL $35K on my highest-fee card (CSR), and my 2nd and 3rd highest SLs of $33K and $30K on my other two hotel travel cards (Marriott and Hyatt) with lower $95 AFs. My no-AF Chase Freedom only warranted a much lower $21.9K SL. I've observed this general pattern with other profiles on My Fico, but of course there can always be exceptions.)

@Anonymous, I've posted several times about credit limits, their data points, and general observations and theories about what influences them the most. You can read one of my postings at the link below and follow the other two included links for more reading if you prefer. Hope this is helpful!

https://ficoforums.myfico.com/t5/Credit-Cards/Do-travel-cards-usually-come-with-higher-limits/m-p/5752615#M1669150

Re: Credit limit with one lender/bank

UpperNwGuy — Thu, 10 Sep 2020 00:12:17 GMT

Chase and NFCU have each given me credit limits of about 70% of my income.

Re: Credit limit with one lender/bank

expatCanuck — Sun, 01 Nov 2020 20:26:08 GMT

Chase is currently at about 35% between 2 cards (CSP, CFU). BoA is over 50%, also for 2 cards, which is absurd. Citi keeps me constrained to under 14% (one card). Amex gives me 21% on the BCE, which is also absurd.

Actually, the whole thing is flying marsupial guano nutzo. Truly, if I ever utilized even 5% of my current aggregate CL, I'd be overextended (at best).

Now that I'm at 3/24, I've considered applying for the Flex, but I'm less inclined if I'm going to have to perform a CL dance. (My assumption is that, someday, I'll have use for the CSP again (which I downgraded from the CSR when the premium came due this year, because Covid).

Re: Credit limit with one lender/bank

kremonis — Thu, 21 Jan 2021 03:42:07 GMT

@expatCanuck wrote:
Chase is currently at about 35% between 2 cards (CSP, CFU). BoA is over 50%, also for 2 cards, which is absurd. Citi keeps me constrained to under 14% (one card). Amex gives me 21% on the BCE, which is also absurd.

Actually, the whole thing is flying marsupial guano nutzo. Truly, if I ever utilized even 5% of my current aggregate CL, I'd be overextended (at best).

Now that I'm at 3/24, I've considered applying for the Flex, but I'm less inclined if I'm going to have to perform a CL dance. (My assumption is that, someday, I'll have use for the CSP again (which I downgraded from the CSR when the premium came due this year, because Covid).

@expatCanuck

Did ever decide to apply for the Chase Flex? If yes was your app successful?

I am in the same boat as you. I want to apply for the Chase Freedom Flex and I'm at 3/24. I have two cards with Chase already. One is a business and the other is a personal card that was acquired last Spring. The combined CL is about 61% of my gross income. Go figure?

Re: Credit limit with one lender/bank

Anonymous — Thu, 21 Jan 2021 04:05:28 GMT

Amex & Discover are the only two I've hit the ceiling with and that's with exposure at 64% of my income with Amex and 53% with Discover.

Chase I'm at 30% of income with 2 revolvers still at their SLs. I don't believe I've hit a ceiling with them, as if I were to apply for a 3rd card I think I'd get approved and/or if I were to go for a HP CLI on either of my current two I'd probably get something.

Citi I'm sitting at about 35% of my income and that card has shown no signs of hitting a ceiling yet. Slow and steady growth overall.

Synchrony I'm at 37% of income with only 1 card and I imagine I could get approved for additional cards from them, so ceiling not hit.

Capital One I simply don't care about, so I'm at 11% with them and have no desire to increase it even a single percentage point.

Re: Credit limit with one lender/bank

iced — Thu, 21 Jan 2021 12:29:28 GMT

I don't think Chase has a hard limit, be it on a single card or across all cards. If your profile for a limit falls within their risk acceptance, you'll probably get that limit.

Re: Credit limit with one lender/bank

Aim_High — Thu, 21 Jan 2021 18:01:10 GMT

@iced wrote:
I don't think Chase has a hard limit, be it on a single card or across all cards. If your profile for a limit falls within their risk acceptance, you'll probably get that limit.

I think Chase does have some limits across all cards - barring having significant investments or heavy six-figure spending. The figures I've seen are usually about 35% to 50% of income, depending on profile factors. I think many end up around the 40%-ish number. Also, I've seen a few people (myself included) who seem to hit a ceiling in the low six figures of total exposure and the income may become less of a factor unless you fall into the exceptions above. For example, if I were to calculate it, I'm sure my percentage of income figure fell towards the end of multiple approvals since they borrowed from existing credit limits to grant the new card.

I've been with Chase for 20 years and had one closed card that was later combined into another. Three years ago, I was 0/24 and started a string of apps with Chase before pursuing other lenders. The card I had was the Freedom Unlimited. I added the Sapphire Reserve (SL $35K), INK Business Preferred - later PC'd to INK Cash (SL $9K), Freedom (SL $21.7K), Marriott Bonvoy Boundless (SL $33K), and World of Hyatt ($30K.) On the last approval, they stole credit limit from my CSR to grant the $30K approval. I've rebalanced the limits a few times and I'm not done yet. But my total exposure now is $138.4K ($129.4K personal and $9K business.) It's funny but I've seen a couple of other profiles right around that number of total CL so there must be something to it.

My current limits are: Sapphire Reserve ($55K); Freedom Unlimited ($29.4K); Freedom ($25K); Marriott ($10K); Hyatt ($10K); INK Cash ($9K).

Re: Credit limit with one lender/bank

Aim_High — Thu, 21 Jan 2021 18:15:03 GMT

@Anonymous wrote:
Amex & Discover are the only two I've hit the ceiling with and that's with exposure at 64% of my income with Amex and 53% with Discover.
Chase I'm at 30% of income with 2 revolvers still at their SLs. I don't believe I've hit a ceiling with them, as if I were to apply for a 3rd card I think I'd get approved and/or if I were to go for a HP CLI on either of my current two I'd probably get something.
Citi I'm sitting at about 35% of my income and that card has shown no signs of hitting a ceiling yet. Slow and steady growth overall.
Synchrony I'm at 37% of income with only 1 card and I imagine I could get approved for additional cards from them, so ceiling not hit.
Capital One I simply don't care about, so I'm at 11% with them and have no desire to increase it even a single percentage point.

Lender "Ceilings" are tricky things to pin down. Lenders do often have upper limits for the average consumer card exposure, such as someone who charges routine normal household expenses within a modest budget and pays it off. And often, the lenders seem to use calculations related to income and/or DTI. But it's all about the overall profile also and exceptions are not unusual. For example, the well-known Bank of America overall $99.9K "ceiling" which is quite reachable for moderately-strong income and FICO profiles, can be breached but it usually requires heavy spend or large investments. High income and high FICO scores won't do it. That is true of other lender's credit limits. If you put heavy enough spend-and-pay on even a very high limit card, it can grow. For example, my Discover card sits at $50K which in my case is well below the 53% of income figure that you reached. I've been told it can grow higher, but at least right now I'm unwilling to put heavy 1% spend on the card to grow it higher. But if I made it my daily driver, who knows how high it could go?

Now there are lenders who cap the upper ends of a card, such as PenFed's current policy of $25K per card or $50K total (or) Navy Federal's $50K per card except $80K for Flagship and $80K total. I have a few cards capped at $25K per the lender (AOD FCU and my AFBA/UMB for example.)

Re: Credit limit with one lender/bank

iced — Thu, 21 Jan 2021 20:22:10 GMT

@Aim_High wrote:
I think Chase does have some limits across all cards - barring having significant investments or heavy six-figure spending. The figures I've seen are usually about 35% to 50% of income, depending on profile factors. I think many end up around the 40%-ish number. Also, I've seen a few people (myself included) who seem to hit a ceiling in the low six figures of total exposure and the income may become less of a factor unless you fall into the exceptions above. For example, if I were to calculate it, I'm sure my percentage of income figure fell towards the end of multiple approvals since they borrowed from existing credit limits to grant the new card.

I've been with Chase for 20 years and had one closed card that was later combined into another. Three years ago, I was 0/24 and started a string of apps with Chase before pursuing other lenders. The card I had was the Freedom Unlimited. I added the Sapphire Reserve (SL $35K), INK Business Preferred - later PC'd to INK Cash (SL $9K), Freedom (SL $21.7K), Marriott Bonvoy Boundless (SL $33K), and World of Hyatt ($30K.) On the last approval, they stole credit limit from my CSR to grant the $30K approval. I've rebalanced the limits a few times and I'm not done yet. But my total exposure now is $138.4K ($129.4K personal and $9K business.) It's funny but I've seen a couple of other profiles right around that number of total CL so there must be something to it.

My current limits are: Sapphire Reserve ($55K); Freedom Unlimited ($29.4K); Freedom ($25K); Marriott ($10K); Hyatt ($10K); INK Cash ($9K).

I view investments and spending as part of your larger profile, so if they can affect your limit and break you out of what is perceived as an invisible ceiling, then why would we exclude them from the discussion?

Compare that with a BoA, where no matter who you are or what you do, it seems $99,900 is the cap. With Chase, there is a way around it, and the fact it's not consisent for everyone (35-50% isn't even consistent) should hint that no such hard and fast limit exists. Some people start hitting headwinds around 30% while others get to 100% or more. That's another reason I say there's no real cap and it's a YMMV deal with them.

Re: Credit limit with one lender/bank

Aim_High — Thu, 21 Jan 2021 21:24:16 GMT

@iced wrote:
@Aim_High wrote:
I think Chase does have some limits across all cards - barring having significant investments or heavy six-figure spending. The figures I've seen are usually about 35% to 50% of income, depending on profile factors. I think many end up around the 40%-ish number. Also, I've seen a few people (myself included) who seem to hit a ceiling in the low six figures of total exposure and the income may become less of a factor unless you fall into the exceptions above. For example, if I were to calculate it, I'm sure my percentage of income figure fell towards the end of multiple approvals since they borrowed from existing credit limits to grant the new card.

I've been with Chase for 20 years and had one closed card that was later combined into another. Three years ago, I was 0/24 and started a string of apps with Chase before pursuing other lenders. The card I had was the Freedom Unlimited. I added the Sapphire Reserve (SL $35K), INK Business Preferred - later PC'd to INK Cash (SL $9K), Freedom (SL $21.7K), Marriott Bonvoy Boundless (SL $33K), and World of Hyatt ($30K.) On the last approval, they stole credit limit from my CSR to grant the $30K approval. I've rebalanced the limits a few times and I'm not done yet. But my total exposure now is $138.4K ($129.4K personal and $9K business.) It's funny but I've seen a couple of other profiles right around that number of total CL so there must be something to it.

My current limits are: Sapphire Reserve ($55K); Freedom Unlimited ($29.4K); Freedom ($25K); Marriott ($10K); Hyatt ($10K); INK Cash ($9K).
I view investments and spending as part of your larger profile, so if they can affect your limit and break you out of what is perceived as an invisible ceiling, then why would we exclude them from the discussion?

Compare that with a BoA, where no matter who you are or what you do, it seems $99,900 is the cap. With Chase, there is a way around it, and the fact it's not consisent for everyone (35-50% isn't even consistent) should hint that no such hard and fast limit exists. Some people start hitting headwinds around 30% while others get to 100% or more. That's another reason I say there's no real cap and it's a YMMV deal with them.

To me, that is two different questions and sets of circumstances, not one. So they deserve to be addressed separately, but I wasn't suggesting to exclude them completely. Are there lending caps with Chase? It depends. I was excluding the exceptions of high investments or heavy and high spend because they apply to a small minority of the population. Not everyone chooses to put their investments with a bank they want to get a credit card from, and not everyone can afford to run large charges possibly even in excess of reported income through their cards. So breaking these exceptions out for purposes of the discussion seems appropriate. I think it's misleading to say any bank is "uncapped" without specifying what it takes to get to those ultra-high limits. I could be making $10Million a year with 850 FICO and no debt but Chase might still cap me at $138.4K unless I invested with them or heavily used their cards.

So for the majority of the population ... who don't meet those exceptions, I think there are lending limits with Chase. It's a separate set of lending guidelines and rules, depending on circumstances. And for those who don't fall in those exceptions, lending caps appear to be based as a percentage of income.

I disagree about Bank of America. Two cases in point and discussion on another recent thread indicate otherwise. One member with heavy business spend recently raised a single card limit to $120K. And posting from other forum members have indicated that with enough investments with BofA and/or Merrill Lynch, that exceeding $99.9K is not difficult. @simplynoir @coldfusion @FinStar

For those without the above exceptions, I mentioned a ballpark 35% to 50% since the exact information in each applicant's file will vary and we don't know how Chase weights various factors. That's not to say it's inconsistent. All manner of things including FICO scores, income, and debts just to name a few may change exactly where a person falls in that general range. I doubt we'd ever find a bank just using a rote percentage in all cases. I'd be willing to bet that anyone exceeding credit limits of around 50% of income with Chase has other factors at play.

Re: Credit limit with one lender/bank

iced — Thu, 21 Jan 2021 21:50:05 GMT

@Aim_High wrote:
To me, that is two different questions and sets of circumstances, not one. So they deserve to be addressed separately, but I wasn't suggesting to exclude them completely.   Are there lending caps with Chase? It depends. I was excluding the exceptions of high investments or heavy and high spend because they apply to a small minority of the population. Not everyone chooses to put their investments with a bank they want to get a credit card from, and not everyone can afford to run large charges possibly even in excess of reported income through their cards. So breaking these exceptions out for purposes of the discussion seems appropriate. I think it's misleading to say any bank is "uncapped" without specifying what it takes to get to those ultra-high limits. I could be making $10Million a year with 850 FICO and no debt but Chase might still cap me at $138.4K unless I invested with them or heavily used their cards.

So for the majority of the population ... who don't meet those exceptions, I think there are lending limits with Chase. It's a separate set of lending guidelines and rules, depending on circumstances.   And for those who don't fall in those exceptions, lending caps appear to be based as a percentage of income.

I disagree about Bank of America. Two cases in point and discussion on another recent thread indicate otherwise. One member with heavy business spend recently raised a single card limit to $120K. And posting from other forum members have indicated that with enough investments with BofA and/or Merrill Lynch, that exceeding $99.9K is not difficult.    @simplynoir   @coldfusion @FinStar

For those without the above exceptions, I mentioned a ballpark 35% to 50% since the exact information in each applicant's file will vary and we don't know how Chase weights various factors. That's not to say it's inconsistent. All manner of things including FICO scores, income, and debts just to name a few may change exactly where a person falls in that general range.   I doubt we'd ever find a bank just using a rote percentage in all cases.   I'd be willing to bet that anyone exceeding credit limits of around 50% of income with Chase has other factors at play.

In that case, I'd say BoA (and many other banks) is also YMMV too and doesn't have a solid cap. I don't think it makes sense to play to a 'common' case, as each of us may or may not fit that case. That is, isn't is also misleading to hear a bank only does X only to find out it doesn't (i.e., 5/24)?

Maybe I have other factors with Chase at play, maybe I don't, but I'll never know if I don't try, and absolute advice is the sort of advice that would discourage me from trying.

Re: Credit limit with one lender/bank

coldfusion — Thu, 21 Jan 2021 22:00:15 GMT

The highest BoA figure I've seen a member here quote was $150K, I'm not at that level.