Credit card limit

[Anonymous]

Hello everyone,  I am just curious to know what credit score is needed to get approved for a high credit limit on a CC.

[uswala]

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@Anonymous wrote:

Hello everyone,  I am just curious to know what credit score is needed to get approved for a high credit limit on a CC.

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There are a lot of factors in getting high CL, not just scores. For example, your past history, AAoA, your salary, etc. 

[Anonymous]

Credit score 672 and salary $60,000 a year.  I am just curious because after I close on my mortgage loan, I want to open a new CC account with a high credit limit.

[Anonymous]

Nothing negative on my credit report just a medical collection which is showing paid. 

[DrZoidberg]

Credit scores are usually good for initial credit. But based on my understanding and reading to get higher CL's they tend to focus on your income and your DTI. IF you think about it, would you give someone a $40k line that only makes $30k a year? Prob not. I'm not saying scores don't materr and nothing else matters. But higher CL's (really high) need 'high' incomes and low DTI. You will also need a clean payment history and a good AAoA. 

[uswala]

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@Anonymous wrote:

Nothing negative on my credit report just a medical collection which is showing paid. 

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It is really hard to predict even with all information available as different lenders use their own algorithims is allocating the CL. 

[Anonymous]

Thanks for the information!!!

[b_diddy]

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@Anonymous wrote:

Credit score 672 and salary $60,000 a year.  I am just curious because after I close on my mortgage loan, I want to open a new CC account with a high credit limit.

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In addition to your CR, income and debt profile, with some exceptions, it takes time tending smaller limits so that they grow.  Often times, big limits beget big limits ... again that takes time.  Of course, there are some exceptions to this and every now and then someone bowls me over with a big limit and a thin file.

[DrZoidberg]

To add to what others are saying.....big limits aren't given.....they're earned. The only exception is Diner's and some CU's. But for others, tehy are grown. If you get an Amex you could grow it to $30k in 8.1 months time (depending on your initial CL).

[Anonymous]

+1