How do I get a large credit line without high income?

[Anonymous]

here are my stats (760 across the board)

1,000 card 1

10,000 card 2

10,000 card 3

10,000 personal line or credit 1

10,000 personal line of credit 2

15,000 personal line of credit 3

2,000 overdraft line of credit 

Zero utilization (hasn't reported my recent loan payoff)

Im looking to secure 50-100k more dollars in personal line of credit accounts but i want to have really high limit cards around 30-50k. How would I get around 3 cards ranging from 30-50 without high income?

[K-in-Boston]

You would need to find banks willing to extend credit lines of a certain percentage of your income to those matching your credit profile.  What would you consider a high income, though?  That's subjective and definitely varies by locale.  $250k wouldn't really be considered high income in some areas and even then $50k revolving lines can often be a stretch, or beyond what some lenders will extend to anyone regardless of income.

Assets in lieu of income can also play a role.

[Aim_High]

Credit limits are a complicated topic, @Anonymous.   There is no easy answer or quick fix to high credit limits.  Not to mention that during the economic downturn of the coronavirus pandemic, it's not the best time to seek out high credit limits, especially those that would quickly double or triple your existing limits.  It's unlikely to happen. 

Yes, high income can be one factor in more quickly amassing high credit limits, but there are two other ways it sometimes happens.  High level of spend-and-pay can help, such as someone who can charge high levels of business expenses and pay it off monthly.  Another way would be to have high levels of assets invested with a lender so that you have a special relationship.  For many people, none of the above applies.

That leaves the "old-fashioned way," which is basically time (and a lot of it) and long-term demonstrated financial responsibility.    Most of us took decades, not just years, to see limits of $30K to $50K and above.   

There are some lenders that are historically more generous with limits but they are the exception rather than the rule.  And during the current economic climate, even they have downsized their approvals.  One of these is Navy FCU. 

I've written some lengthy threads about credit limits with my thoughts and observations that you might find helpful.  Go to this first link and then follow the other links to other threads I wrote about the topic.  Perhaps they will help.

https://ficoforums.myfico.com/t5/Credit-Cards/Do-travel-cards-usually-come-with-higher-limits/m-p/5752615#M1669150

[Anonymous]

In one of your previous posts you say you have a $40K income. If that hasn't multiplied a number of times, you will have a hard time achieving your goal. While a handful of banks and CUs are comfortable with close to or even over 100% exposure, they're rare and it seems much more likely for them to be willing to match or exceed lower incomes than higher ones (say $20K income getting $20K limits while a $40K income gets $20K as well despite the bank or CU offering $50K+ max limits to six figure incomes).

With the economy right now, I would actually think that it's going to be more common to see 30% of income in limits again. 

If you are eligible for NFCU, they're one of those places known to be comfortable with higher limits but it takes time to get there. 

[Anonymous]

A long-term history of on-time payments overall and heavy use of your cards that you've had a long time should help. Of course, heavy use may imply higher income, but there are a few here that have long histories with larger lines and lower income. 

[Anonymous]

As mentioned here that's its harder to achieve in this economic environment, in the meantime until the environment improves, you can continue to use your cards and pay on time every time, and that will count when the day comes where lines are increased more liberally.

[Aim_High]

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@Anonymous wrote:

Credit Cards:

• 1,000 card 1
• 10,000 card 2
• 10,000 card 3

PLOCs:

• 10,000 personal line or credit 1
• 10,000 personal line of credit 2
• 15,000 personal line of credit 3

ODLOC:

• 2,000 overdraft line of credit 

 ... i want to have really high limit cards around 30-50k

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You would see this in my postings that I linked, but I should also mention that 30K to 50K limits are probably highly unlikely with the profile you present.  Most lenders tend to approve limits in-line with what you've already shown you can handle successfully or within a small percentage above that.  I'm not sure they would consider a PLOC limit in the same category as a credit card limit.  Your average credit card limit is $7K.  Regardless, whether they use your highest limit as 10K or 15K, you're nowhere close to the limits you seek.  As an outlier, a lender might approve you for $20K, I would guess.  Working up to $30K to $50K will take a lot more time and profile-building.

[M_Smart007]

"Most of us took decades, not just years, to see limits of $30K to $50K and above."

@Aim_High, So you are suggesting that I am old? (some days I really feel it)

[Anonymous]

Whats a good way to build my profile?

[Aim_High]

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@M_Smart007 wrote:

"Most of us took decades, not just years, to see limits of $30K to $50K and above."

@Aim_High, So you are suggesting that I am old? (some days I really feel it)

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Well Sir, unfortunately I think we both are!