@coolandcalm wrote:Does the amount of available credit from different lenders affect approval chances for new credit cards and the amount the will extend you?
Example:
I have $25,000 total credit with AMEX and other credit card companies... I apply for a new Chase card..
Is it possible, they will they look at my profile and determine I already have too much available credit across different lenders, when making a decision?
It's theoretically possible but highly unlikely.
The only institutions that ever turned me down for too much available credit were very conservative credit unions.
Chase wouldn't do that. You'll be okay. Sometimes they like it if they see high CL since they think that other lenders have done their due diligence so that they can follow suit. However, if your TCL is like 3 multiple or more than your total income, they might be wary.
Sometimes, yes. Typically only when you get into the high six figures worth of limits, and even then usually only some conservative CUs and FinTech banks seem to care.
What @OmarGB9 and @SouthJamaica said. Chase gave me my highest limit ever last year and I had a what i used to think was a pretty insane amount of open trade lines... of course hanging out here with these maniacs has made me realize I'm pretty conservative... by MyFico standards that is. You're good.
