@driftless wrote:
@Anonymous wrote:
@Creditplz wrote:
Yeah I think so, I went from $1000 to getting 4K approvals then 13k then 25k
But all the usual confounding factors! Often you get better limits because your profile has improved. And the next lender makes the same decision based on the profile, and not on the fact that your average CL has increased
Perhaps, but underwriting creditors do see the higher CL's from other lenders, which is part of your profile. I really dislike the fall back position "that it depends on your profile" while minimizing part of that profile.
Yes, the amount of credit limits is part of a profile, and it may have an effect as part of that profile. I read longtimelurker's post to be reminding us not to forget that there are other factors involved IN ADDITION to existing limits. In my opinion, there is a greater tendency to blow one factor all out of proportion than there is to ignore one factor but consider the rest. As the scientists say, correlation is not causation. Do people who have higher than average (whatever average is) credit limits obtain other higher limits simply because they already have existing higher limits, or do they get higher limits because they have a good credit score, or make lots of money, or have a long history, or a good history with the issuing bank, or some combination of those factors? Higher credit limits look good for utilization purposes, but other than that, the limits themselves don't affect FICO scores, although they do have an impact on Vantage scores. What impact such limits may have on individual banks for specific products is impossible to tell since we don't have access to their calculations and what factors they use for decision making. And what that means for having high credit limits is simply this: we don't know what effect, if any, having higher credit limits has on future card determinations.
