CL vs Income

[minski]

I realized yesterday I have about double my income in credit. It makes me a bit uncomfortable especially when applying for more credit from conservative institutions. 😅 So, for those in the know, what would be a safe-ish proportion of CL to income that won't get you denied?

Currently in the process of obtaining CLD on a few cards and closing cards I don't want anymore.

[wasCB14]

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@minski wrote:

I realized yesterday I have about double my income in credit. It makes me a bit uncomfortable especially when applying for more credit from conservative institutions. 😅 So, for those in the know, what would be a safe-ish proportion of CL to income that won't get you denied?

Currently in the process of obtaining CLD on a few cards and closing cards I don't want anymore.

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Varies by issuer. Some are sensitive, others seem not to care. Any particular lender you have in mind?

[gdale6]

I have over 4x in CL to income, its the utilization of those CLs that matter to them, there are others on this board who far exceed me.

[K-in-Boston]

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@gdale6 wrote:

I have over 4x in CL to income, its the utilization of those CLs that matter to them, there are others on this board who far exceed me.

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+1.   I am also over 4x income.  Few lenders care about your total revolving credit lines being too much and it usually only seems to pop up with a credit union here and there for a denial reason.  

When it comes to total credit lines with an individual lender, however, that can become an issue.  It varies by lender and people can run into issues before hitting a percent that seems to be the norm for others with the same lender.  Amex will gladly give some people close to their full income in credit lines, while I seem to be stuck at about 30%.  Bank of America I believe is around 60-70%, but myself and others seem to not be able to exceed $99,900 in total lines extended.  In other words, those percentages don't always scale.

[FieryDance]

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@minski wrote:

I realized yesterday I have about double my income in credit. It makes me a bit uncomfortable especially when applying for more credit from conservative institutions. 😅 So, for those in the know, what would be a safe-ish proportion of CL to income that won't get you denied?

Currently in the process of obtaining CLD on a few cards and closing cards I don't want anymore.

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I share your approach that if I want more cards from a bank I keep my existing limits with them on the lower side and would do proactive CLDs if I consider it beneficial. 

But there is no one size fits all answer to your question. It depends on the bank, credit profile, income, relationship with the bank, how much that bank values relationships, etc, etc.  I keep my total CL from any bank under 50% of my individual income but that is hardly a universal rule of thumb for all. 

As for your total credit exposure from all issuers, I don't think 2 times your income is very extreme.  At least not on this forum. 

[Anonymous]

As you approach higher incomes, you may bump into each issuing bank / CU's maximum relationship limits when trying to surpass your income in CL. It's one thing to have $80k limits combined among a handful of cards on $40k income, but securing $300k when your income is $150k may take 10 or more cards to achieve. 

[Jetiquette]

My CL total is about 60% of my income. 

[mrjerry]

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@K-in-Boston wrote:

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@gdale6 wrote:

I have over 4x in CL to income, its the utilization of those CLs that matter to them, there are others on this board who far exceed me.

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+1.   I am also over 4x income.  Few lenders care about your total revolving credit lines being too much and it usually only seems to pop up with a credit union here and there for a denial reason.  

When it comes to total credit lines with an individual lender, however, that can become an issue.  It varies by lender and people can run into issues before hitting a percent that seems to be the norm for others with the same lender.  Amex will gladly give some people close to their full income in credit lines, while I seem to be stuck at about 30%.  Bank of America I believe is around 60-70%, but myself and others seem to not be able to exceed $99,900 in total lines extended.  In other words, those percentages don't always scale.

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Please teach me how to get 2x my income. 

[minski]

Thanks all. Lately I have been applying to credit unions that I am reading can be sensitive and conservative. Currently waiting to hear from Affinity FCU.

[K-in-Boston]

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@mrjerry wrote:

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@K-in-Boston wrote:

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@gdale6 wrote:

I have over 4x in CL to income, its the utilization of those CLs that matter to them, there are others on this board who far exceed me.

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+1.   I am also over 4x income.  Few lenders care about your total revolving credit lines being too much and it usually only seems to pop up with a credit union here and there for a denial reason.  

When it comes to total credit lines with an individual lender, however, that can become an issue.  It varies by lender and people can run into issues before hitting a percent that seems to be the norm for others with the same lender.  Amex will gladly give some people close to their full income in credit lines, while I seem to be stuck at about 30%.  Bank of America I believe is around 60-70%, but myself and others seem to not be able to exceed $99,900 in total lines extended.  In other words, those percentages don't always scale.

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Please teach me how to get 2x my income. 

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Time, patience, maintaining good payment history, keeping utilization low, asking for CLIs when appropriate, and applying for additional cards when appropriate.