Income to Total Credit Line Question

[Gmood1]

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@Anonymous wrote:

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@Gmood1 wrote:

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@Anonymous wrote:

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@Gmood1 wrote:
I'm now at 5x my income. Let your usage report! Keep utilization below 10%. I keep mine around 2%. Stay away from excessive amounts of store cards. I don't have any. Though I wouldn't mind a Lowe's card. Once you're around 730 and above with clean reports...the sky is the limit!

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I couldn't imagine having THAT much available in credit cards! That would be THREE times what we're looking to spend on a house!!

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There was a time not long ago I thought the same way. I honestly didn't think it was possible. As long as you're disciplined and don't look at it like money in the bank, you'll be fine.

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  We're looking at a house between $200K & $250K.. I really CANNOT imagine having 3x's that available in credit cards! LOL!!

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I'm sitting at the littte kids table. lol

You have members here with close to a million dollars in credit card lines. 

[Meanmchine]

...Cant you just picture it  Going to closing and all you bring is your American Express Card.

[jamesdwi]

i'm nearly at 3x my reported income,  Oldest account 18 years, its a utility bill,   actual oldest credit card is 7years 2 months, no lates or any derogs on any of my accounts, and 34 open accounts, and 9 closed,  reported income is 86K,   as YTD gross is 67K,    220K Total Credit limit.   AAoA on my best report is 4 years and 3 months. 

[Credit_hawk]

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@Anonymous wrote:

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@Gmood1 wrote:

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@Anonymous wrote:

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@Gmood1 wrote:
I'm now at 5x my income. Let your usage report! Keep utilization below 10%. I keep mine around 2%. Stay away from excessive amounts of store cards. I don't have any. Though I wouldn't mind a Lowe's card. Once you're around 730 and above with clean reports...the sky is the limit!

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I couldn't imagine having THAT much available in credit cards! That would be THREE times what we're looking to spend on a house!!

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There was a time not long ago I thought the same way. I honestly didn't think it was possible. As long as you're disciplined and don't look at it like money in the bank, you'll be fine.

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  We're looking at a house between $200K & $250K.. I really CANNOT imagine having 3x's that available in credit cards! LOL!!

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Hey, how did someone use your identity for healthcare and how did you get stuck holding the bag?

[Anonymous]

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@Meanmchine wrote:

...Cant you just picture it  Going to closing and all you bring is your American Express Card.

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So long as you don't look at the interest rate!

I'd much rather have the 3-4% we can currently get with a non-FHA loan.

[Anonymous]

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@Credit_hawk wrote:

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@Anonymous wrote:

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Hey, how did someone use your identity for healthcare and how did you get stuck holding the bag?

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No one used our identity for health care. We just had a lot of medical expenses and also had identity theft on top of that (because of a family member).

That being said, identity theft in health care actually used to be fairly common; especially in certain states. That's why health care providers now routinely ask for your ID or driver's license with your insurance card.

[Credit_hawk]

Oh I understand. Yeah, I was going to mention that every time I go to the doctors apart from my GP I get carded so I'd Imagine healthcare impersonation fraud would be unusual. Plus it just is weird. You'd have to be that person for the entirety of your illness.

Oh family theft is touchy.