Hey Tomgon1981! Yes, there are many noted threads regarding this. Many here have CLs 2X and some near 3X their reported income. Build your history, manage your utility and AAoA and you will see your CLs grow. It takes time and diligence. Having a strong long profile does wonders for your credit offers. 
Starting Score: 642
Just depends on what you want to do...
I make $80k... and don't need $160k or $240k in credit. One thing I learned in 4 years of Ch 13 was how to pay for everything in cash and not buy things I don't need... which contributed to my BR filing in 2009 after an extended layoff.
I have a credit profile that is about 30% of my income... and I'm fine with it.
@TRC_WA wrote:Just depends on what you want to do...
I make $80k... and don't need $160k or $240k in credit. One thing I learned in 4 years of Ch 13 was how to pay for everything in cash and not buy things I don't need... which contributed to my BR filing in 2009 after an extended layoff.
I have a credit profile that is about 30% of my income... and I'm fine with it.
I agree. My total available credit is more than twice the annual income but I am fully aware that there is no way I could repay if I would use it. So I agree with TRC_WA that there is no need for it. I am only using a very small amount of my CLs because I do not buy anything that I could not afford to pay cash. I am only in for rewards and not for credit! I would even go as far as to say I hate credit but I love rewards
I started rebuilding with a $300 Cap1 card 3 1/2 years ago my net income is $25000 so yes it's possible. I'm $50 short of double but would never consider using my available credit. I'm 100% disabled so there would be know way to payoff maxed out cards.
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
@takeshi74 wrote:
@TRC_WA wrote:I make $80k... and don't need $160k or $240k in credit.
I look at it a bit differently. Utilization plays a signficant role in credit scoring. It's not just a matter of how much one spends IMO. 30% utilization is the recommended max so I'd suggest aiming for limits that place one's utilization at 30% or less based on spend unless one is fine with micromanaging reported utilization. I personally don't care for it and my limits and spend are such that my utilization currently falls at 9%. I don't "need" my limits either but it's dangerous to look at limits as how much one would spend and one should really always keep utilization in mind IMO.
That said, each needs to do what works for the individual. One could certainly find that limits help to control spend and might benefit from restricting limits above a certain point.
Yes utilization is important... Still, what's the difference in my $3200 debt on $22450 in credit lines or $14,000 debt on $100k in credit lines?
I still make $80k and it's still 14% util. The difference is though $3200 is a lot less than $14,000.
Doesn't FICO score it the same regarding util?
@takeshi74 wrote:
@Tomgon1981 wrote:Has anyone had experience or known anyone to have more of available credit then their annual income
Many do. I'm at 1.7x.
@TRC_WA wrote:
I make $80k... and don't need $160k or $240k in credit.
I look at it a bit differently. Utilization plays a signficant role in credit scoring. It's not just a matter of how much one spends IMO. 30% utilization is the recommended max so I'd suggest aiming for limits that place one's utilization at 30% or less based on spend unless one is fine with micromanaging reported utilization. I personally don't care for it and my limits and spend are such that my utilization currently falls at 9%. I don't "need" my limits either but it's dangerous to look at limits as how much one would spend and one should really always keep utilization in mind IMO.
That said, each needs to do what works for the individual. One could certainly find that limits help to control spend and might benefit from restricting limits above a certain point.
+1 utilization is very important I'm on a fixed income and can't fudge my numbers.