TCL in relation to income.

[redwalker2929]

Just curious if anyone is aware of a thread discussing members annual income in relation to their total credit amongst all credit cards?

[Anonymous]

Might have some success searching for the bankruptcy threads.

[austinguy907]

The average person around here usually hits about 2.5X annual income in comparison to the general public.  There are some that go to the extreme and have TCL's between 500K-1M and there are others that like to keep things on the skinny and cap out at 30-50K.  Depends on your thoughts on credit though.

[Anonymous]

There is definitely a thread, I started it probably a year ago, but can't seem to find it.  I basically asked everyone what their total credit limits were compared to their income expressed as a percentage.  This way, people that were uncomfortable listing dollar amounts wouldn't have to... so people could just respond with things like 50%, 100%, 200%, etc.

This is the closest thread I could find to the one that I started:

http://ficoforums.myfico.com/t5/Credit-Cards/Total-Credit-Limit-vs-Income/td-p/4744381

There are a few other related threads... this one was from a few months back:

http://ficoforums.myfico.com/t5/Credit-Cards/Under-99k-Income-Largest-Total-Credit-Limit-and-Single-...

Here's one that talks about it a bit:

http://ficoforums.myfico.com/t5/Credit-Cards/Total-credit-limit-vs-annual-salary/td-p/3761678

[Anonymous]

I posted in one of those before. Trying to keep mine at 4x my income. Not for any particular reason.

[digitek]

I am of the small time camp, and try to keep mine low. Even requested a CL Decrease on my CSR. I am pretty conservative, I don't even like credit, just something I have to do. Can't imagine ever needing to borrow $400k at 20%!

My total CL is about 1/3rd of my income.

[Anonymous]

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@digitek wrote:
I am of the small time camp, and try to keep mine low. Even requested a CL Decrease on my CSR. I am pretty conservative, I don't even like credit, just something I have to do. Can't imagine ever needing to borrow $400k at 20%!

My total CL is about 1/3rd of my income.

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How did that go? I always wondered if you purposedly request a CL decrease would the lender frown upon that? Possibly thinking youre in finanical trouble etc?

Were you able to specifically request the exact lower CL you wanted? 

[digitek]

Actually, yeah, I sent Chase a secured message through their website and told them I wanted to reduce it to an exact number. Got an email later that day saying it had been done and it was reduced to that number (24k to 10k)

There was no negative effects on my credit report. My utilization didn't change because I don't carry a balance. No one seemed to care at all.

[Dalmus]

I'm about 15% above mine and my wife's combined income.   At least the combined income I claim on applications...  We actually make more combined, but in my mind if I report less, then I'm absolutely safe if there's ever any income verification required.

My wife is at about 1/3 our combined income and has no desire to increase her limits... Which is fine by me.   If we ever get to the point where we are charging 150K+ on credit cards, we will have some serious problems.  I'm not happy that I'm currently at 12% util, but at least its all at 0% and shrinking rapidly!

[Anonymous]

I read on Reddit recently that people were lowering their limits to help qualify for the CSR. Can anyone explain that to me in more detail? The postings were about 4-5 months old I think. Thanks.