CL's growing too high?

[acb5456]

Morning everyone! So I was thinking about this topic this morning and wanted to ask you guys your opinions. A little background: I make just under $36,000 a year, I'm 24, aaoa is 2.5 years and I have the 4 cards in my signature with respective limits. My question is: are my limits, when they grow to say $10,000 going to be an issue with my income? I only put about $1,000 per month on average on all of my cards combined, and pay in full, sometimes allowing a small balance to report on one of the 4 so it shows use. I have only had these cards since May of 2013. If I were to get $10,000 credit limits on each of these 4 cards, would I ever be at risk of a credit decrease because of my relatively low spending habits?? Hope my questions were clear and concise! Thanks again for your opinions

[acb5456]

Shameless bump haha curious to know if anyone has any experience with this?

[takeshi74]

We can only really provide generic responses.  It's an issue when you apply for credit and it's stated as the major reason for denial.  Most people can have credit limits that exceed their income but it really all depends on the individual's credit.  I'm at about 1.4x my income.  Some are lower than me.  Some are higher than me.  YMMV.

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@acb5456 wrote:
If I were to get $10,000 credit limits on each of these 4 cards, would I ever be at risk of a credit decrease because of my relatively low spending habits??

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Can't speak for you but I haven't had CLD's due to usage.  However, I have had CLD's due to high utilization over a long time with minimum payments.  I typically only spend about $300 each month on a card that has a $30K CL.  It's continues to remain at a $30K CL.

[acb5456]

Thanks.

[Open123]

In general, 100% of income is fine, but as Takehis has observed, it's a case by case scenario.  Some will be restricted to less, while others may have CLs many times their income.

[acb5456]

Okay thank you!

[Anonymous]

Great question.

[NonSufficientFunds]

Your FICO scores appear to be pretty decent, for someone of your age and AAoA.  Creditors will usually only take notice when you actually begin to carry large balances (Debt-to-Income ratio).

Future applications might result in the granting of lower credit lines, because of "too much available credit" for someone in your income bracket.

You might want to hold off on applying for any more credit until your history gets more established.

You have some nice cards now, so the only thing you should do for now, is work on getting the AmEx BCE line up to where the others are - your continued responsible handling of your existing accounts will be rewarded with regular CLIs, with no additional Hard-Pulls.

You are well on your way to establishing a very solid credit portfolio. 

Just resist the the temptation to grow your card-collection too quickly - Then you will be in a great position to take advantage of the next big card product, whenever it gets introduced to the market.

Keep up the great work - Best Wishes !!

[acb5456]

Thank you very much for your answer! Have a great rest of the day!

[JediNeo]

Would having high available CL with low UTL and no baddies affect ones chance at a mortgage approval?