topic Re: Does having high CC limits make your report look good? in General Credit Topics

Does having high CC limits make your report look good?

Anonymous — Thu, 29 Sep 2016 13:36:34 GMT

I was wondering if having high credit card limits on your credit report make you look good to underwriters and during a manual review? Say if you went to apply for a loan, auto loan, or mortagage, or even another card and if you had some high limit cards already on your report ( with low utilization of course) would that be in favor for you?

Re: Does having high CC limits make your report look good?

Pway — Thu, 29 Sep 2016 19:21:51 GMT

@Anonymous wrote:
I was wondering if having high credit card limits on your credit report make you look good to underwriters and during a manual review? Say if you went to apply for a loan, auto loan, or mortagage, or even another card and if you had some high limit cards already on your report ( with low utilization of course) would that be in favor for you?

It all depend on the lender one is applying for credit with. Yes it is nice to have high limits and low util, but some banks will still start you off with a small credit line despite having a high credit line with other banks. Please remember that this is not the only factors when applying for credit. They look at you DTI (Debt to Income), scores, and such.

Re: Does having high CC limits make your report look good?

sarge12 — Thu, 29 Sep 2016 19:38:29 GMT

@Anonymous wrote:
I was wondering if having high credit card limits on your credit report make you look good to underwriters and during a manual review? Say if you went to apply for a loan, auto loan, or mortagage, or even another card and if you had some high limit cards already on your report ( with low utilization of course) would that be in favor for you?

High limits do usually help you maintain low utilization and also handled responsibly it shows potential creditors that you are not likely to max out cards just because you have high limits. On the flip side of this creditors are also aware that the high limits represent a lot of potential debt. It is a balancing act, and too high credit limits compared to your income may represent potential risk to some creditors. What is the perfect amount of exposure to have? I have no idea, and it seems to vary by creditor. I have maintained credit scores in the 800+ range for years. Some credit card issuers provide me with a higher limit than I wanted, others have been stingy with limits.

Re: Does having high CC limits make your report look good?

Anonymous — Fri, 30 Sep 2016 02:38:38 GMT

I agree with what's been said above. A lot of it has to do with your income IMO.

If you have $100k+ in credit lines with $25k in income it could very well be frowned upon by potential lenders looking at your reports.

I do think having fewer prime cards with high limits is a better "look" than having equal total credit limits spread out over many more cards that aren't as good.

For example, you have two people with $75k in credit lines. The first person has 4 total cards with individual limits of $30k, $18k, $13k and $9k. The second person has 15 cards totaling $75k in overall credit, but a good portion of them are store cards with $500-$1500 limits. Both of these people could have 1% aggregate utilization, but in looking at both of their profiles I believe that most creditors/lenders would look at the first person with just 4 cards with higher limits more favorably.

Re: Does having high CC limits make your report look good?

grillandwinemaster — Mon, 03 Oct 2016 14:31:02 GMT

@Anonymous wrote:
I was wondering if having high credit card limits on your credit report make you look good to underwriters and during a manual review?

Your key phrase here is "manual review." That being said, you have brought the human element into the equation. Therefore, it depends on the human that's looking at it from the other side of the computer screen and what HE or SHE finds desirable.

Re: Does having high CC limits make your report look good?

Anonymous — Tue, 04 Oct 2016 01:52:40 GMT

@grillandwinemaster wrote:
@Anonymous wrote:
I was wondering if having high credit card limits on your credit report make you look good to underwriters and during a manual review?
Your key phrase here is "manual review." That being said, you have brought the human element into the equation. Therefore, it depends on the human that's looking at it from the other side of the computer screen and what HE or SHE finds desirable.

Just an update, not everyone is categorized as a "he" or a "she" these days.

I'm not trying to be snarky either.

Re: Does having high CC limits make your report look good?

grillandwinemaster — Wed, 05 Oct 2016 06:36:34 GMT

@Anonymous wrote:
@grillandwinemaster wrote:
@Anonymous wrote:
I was wondering if having high credit card limits on your credit report make you look good to underwriters and during a manual review?
Your key phrase here is "manual review." That being said, you have brought the human element into the equation. Therefore, it depends on the human that's looking at it from the other side of the computer screen and what HE or SHE finds desirable.

Just an update, not everyone is categorized as a "he" or a "she" these days.
I'm not trying to be snarky either.

I'm not understanding...

Re: Does having high CC limits make your report look good?

Anonymous — Wed, 05 Oct 2016 11:59:56 GMT

@grillandwinemaster wrote:
Just an update, not everyone is categorized as a "he" or a "she" these days.
I'm not trying to be snarky either.
I'm not understanding...

Nor am I. Seems like an attempt to take the conversation in a direction other than the one it was intended to travel.

Re: Does having high CC limits make your report look good?

sarge12 — Thu, 06 Oct 2016 00:16:09 GMT

@Anonymous wrote:
@grillandwinemaster wrote:
Just an update, not everyone is categorized as a "he" or a "she" these days.
I'm not trying to be snarky either.
I'm not understanding...

Nor am I. Seems like an attempt to take the conversation in a direction other than the one it was intended to travel.

So now saying he or she is offensive?...Thought police is getting kind of hard to comply with.

Re: Does having high CC limits make your report look good?

Anonymous — Thu, 06 Oct 2016 00:24:56 GMT

Just before an election, crazy talk is always there to be seen.

Re: Does having high CC limits make your report look good?

Thomas_Thumb — Fri, 07 Oct 2016 17:00:14 GMT

@sarge12 wrote:
@Anonymous wrote:
@grillandwinemaster wrote:
Just an update, not everyone is categorized as a "he" or a "she" these days. I'm not trying to be snarky either.
I'm not understanding...
Nor am I. Seems like an attempt to take the conversation in a direction other than the one it was intended to travel.
So now saying he or she is offensive?...Thought police is getting kind of hard to comply with.

Goodbye to 'he' and 'she' and hello to 'ze'?

http://www.cnn.com/2015/10/14/opinions/mcwhorter-pronouns-gender-neutral/

It's Greek to me

Re: Does having high CC limits make your report look good?

sarge12 — Fri, 07 Oct 2016 18:39:48 GMT

If he, or she is a term too offensive to be posted....the moderators can remove, but I will not stop posting the term...only so much pc I will tolerate being dictated to me.