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ACL (average credit limit) is not a factor when it comes to FICO scoring. I do believe there are some scoring models however that do consider it, perhaps some insurance scores?
For the core FICO models, your discrete credit limits are not weighted, nor are variances among them (at least to my knowledge). Of course utilization is. I would think it likely that many of the proprietary risk/decision models in use by big lenders do consider this. Especially against more premium cards that have minimum SL’s (Visa Infinite comes to mind). When I was rebuilding, I was denied a CSR solely because I didn’t have a card in my profile with a comparable limit (despite having an aggregate >$10K with low utilization).
@Medic981 wrote:
@FireMedic1 wrote:Dont close cards. Unless its a loan shark card. Disco will go up in time. They'll see how your BoA card is growing and get jealous and CLI's by you or them will come in. Wouldnt worry about banks and FICO doesnt care about your CL's. It how you take care of your cards.
Do you count a low CL bucketed Cap1 card causing high credit utility with an annual fee as a "shark card"?
Umm, one big NO.
Bucketed Cap1 with annual fee is a snapshot of what CR looked like when a person applied.
There is no monthly fee on it and there is a grace period, so that's hardly shark card.
You've moved on to bigger and better things. No need to be salty over blasts from the past.
@Remedios wrote:
@Medic981 wrote:
@FireMedic1 wrote:Dont close cards. Unless its a loan shark card. Disco will go up in time. They'll see how your BoA card is growing and get jealous and CLI's by you or them will come in. Wouldnt worry about banks and FICO doesnt care about your CL's. It how you take care of your cards.
Do you count a low CL bucketed Cap1 card causing high credit utility with an annual fee as a "shark card"?
Umm, one big NO.
Bucketed Cap1 with annual fee is a snapshot of what CR looked like when a person applied.
There is no monthly fee on it and there is a grace period, so that's hardly shark card.
You've moved on to bigger and better things. No need to be salty over blasts from the past.
Just trying to bait me. I wasnt born yesterday. Everyone knew what I meant by loan shark card.
@charp150 wrote:For the core FICO models, your discrete credit limits are not weighted, nor are variances among them (at least to my knowledge). Of course utilization is. I would think it likely that many of the proprietary risk/decision models in use by big lenders do consider this. Especially against more premium cards that have minimum SL’s (Visa Infinite comes to mind). When I was rebuilding, I was denied a CSR solely because I didn’t have a card in my profile with a comparable limit (despite having an aggregate >$10K with low utilization).
No the Credit Card companies don't care if you have a few low limit card limits in the mix. My Amex cards started at 1k each but Chase, Citi, and B of A didn't have any problem giving me big limits. 24k ,25k and 19k. Now Amex is giving me 25k limits.