Am I maxed out on my Amex Credit Limit?

[Anonymous]

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@Subexistence wrote:

The card was opened april 2017 at 1,200. On june 2017 it went to 3,600 and then on december 2017 it became 10,800 and now on June 2018 it is 26,700

My reported income is 40k

EX08 - 782

Each time I applied with 3x credit limit and I was successful 2 times but only got a partial increase the third time. I didn't get the full 32,400 but had to settle for 26,700 but thankfully no income forms were sent.

I'm currently an intern entering my 3rd year at UMD computer Science undergrad.

My question is should I just be satisfied with my current limit and never again apply for a higher limit due to high risks, low spending, and odd limit. 26,700 is a really weird number and feels like a ceiling.

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Not to get off topic or not answer your question but have you considered asking for an increase on your BofA card. From my experience it was a SP for both my cash rewards and BBR. I asked for 25K on both and was successful. Do to the fact it will be a SP you have nothing to loose.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/KABOOM-BofA-CLI-of-10K/m-p/5260533

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/BofA-BBR-6200-CLI-to-25K/m-p/5260948

[HeavenOhio]

I believe Sub did that recently.

[Anonymous]

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@HeavenOhio wrote:

I believe Sub did that recently.

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Ahh..ok....I need to pay closer attention....thanks...

[Kforce]

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@Subexistence wrote:

The card was opened april 2017 at 1,200. On june 2017 it went to 3,600 and then on december 2017 it became 10,800 and now on June 2018 it is 26,700

My reported income is 40k

 EX08 - 782

My question is should I just be satisfied with my current limit and never again apply for a higher limit due to high risks, low spending, and odd limit. 26,700 is a really weird number and feels like a ceiling.

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I am old and "blown away" by the amounts, speed and ease of CL increases for today's CC's.

When I first got  CC's they had no rewards other than the float and a little insurance.

The CL that you got when you opened the card, was for life, no increases ever.

As time passed newer CC's had auto-increases maybe given after each year.  Not large and not able to be requested by the user.

My oldest credit card has no benefits, and it's original CL. They do not do CL increases "period". It sits at ($11,000) and in a sock drawer.  I put $5 every 6 months on it and it still works.

You should be on "Cloud 9" with a 26k+ after 1 year with 40k income.

As for the less than 3x increase, it means you need to wait.

With time your income levels increase, length of history increases, spend increases and so can your CL

[Subexistence]

I'm just waiting for my Amex to report my new limit before I go for paypal and discover

[Subexistence]

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@SouthJamaica wrote:

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@Subexistence wrote:

The card was opened april 2017 at 1,200. On june 2017 it went to 3,600 and then on december 2017 it became 10,800 and now on June 2018 it is 26,700

My reported income is 40k

EX08 - 782

Each time I applied with 3x credit limit and I was successful 2 times but only got a partial increase the third time. I didn't get the full 32,400 but had to settle for 26,700 but thankfully no income forms were sent.

I'm currently an intern entering my 3rd year at UMD computer Science undergrad.

My question is should I just be satisfied with my current limit and never again apply for a higher limit due to high risks, low spending, and odd limit. 26,700 is a really weird number and feels like a ceiling.

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I think you should be satisfied with your current limit. I wouldn't say "never again apply" for a CLI on that card, but you should certainly wait until your income is significantly higher.

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That won't happen until after I graduate

[AverageJoesCredit]

Sub, the advice given has been excellent, +5

For your income, that's an amazing credit limit. Dont let " I gotta have the biggest limit" creep into your mind because you dont want to upset Beast that feeds you (Amex) so to speak.

I speak for myself, but I find it you aren't using the limit for what it is I wouldnt sweat it too much. Now I'll never make the money you do but when I look at my spend I realize that super high credit limit with Amex isnt necessary though nice to have.

Enjoy it, keep establishing your relationship with Amex and in a few years I wouldnt be surprised to see you with those 50k limits

[Anonymous]

1,200 to 26,700 in a little over a year, that's over 22x... quite impressive.  I wish I could get my savings account to do that.

I'd be more than happy with that... but given time, and possibly more income in the future, it will probably grow more.