What is the maximum credit you can get for a given income?

[techcrium]

Let's say your income is 50K a year and you have a 10 year steller credit history. You always pay back in full, never a penny late, blahblahblah.

Can you apply for more credit each year?

Is there a thereotical maximum before they say, "ok you have too much credit for your income!"

[john398]

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@techcrium wrote:

Let's say your income is 50K a year and you have a 10 year steller credit history. You always pay back in full, never a penny late, blahblahblah.

Can you apply for more credit each year?

Is there a thereotical maximum before they say, "ok you have too much credit for your income!"

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Yes you can apply for more credit each year, and hopefully your income is going up over those years too

[techcrium]

Ok I started applying for credit at age 18 and right now at age 25, I've had a total credit card limit of $44K,

Let say over the years my income grows from 50k to 80k

So by the time I am 60, I can have a credit limit of 400K-500K even if I make just 80K?

[myjourney]

You could have double your income limits at any given time as long as you keep CR looking good with history, payments etc etc 

There are to many factors that affect what your overall limit of credit is....including the banking world in the crash lenders did CLD's 

[pizzadude]

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@myjourney wrote:

You could have double your income limits at any given time as long as you keep CR looking good with history, payments etc etc 

There are to many factors that affect what your overall limit of credit is....including the banking world in the crash lenders did CLD's 

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+1.   Also each one of your creditors will likely cap your maximum available credit that they'll grant you.   So at some point you'll hit the ceiling.

[techcrium]

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@pizzadude wrote:

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@myjourney wrote:

You could have double your income limits at any given time as long as you keep CR looking good with history, payments etc etc 

There are to many factors that affect what your overall limit of credit is....including the banking world in the crash lenders did CLD's 

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+1.   Also each one of your creditors will likely cap your maximum available credit that they'll grant you.   So at some point you'll hit the ceiling.

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Yes so what is that cap, generally speaking?

That's what I am trying to find out.

[myjourney]

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@techcrium wrote:

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@pizzadude wrote:

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@myjourney wrote:

You could have double your income limits at any given time as long as you keep CR looking good with history, payments etc etc 

There are to many factors that affect what your overall limit of credit is....including the banking world in the crash lenders did CLD's 

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+1.   Also each one of your creditors will likely cap your maximum available credit that they'll grant you.   So at some point you'll hit the ceiling.

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Yes so what is that cap, generally speaking?

That's what I am trying to find out.

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No one can answer that sorry

[enharu]

I have seen people with about 100k incomes and yet over 250k+ total CL (real cards that are actually useful, not those useless cards which sole purpose is to only stack CL). However, cases like these are hard to come by, and those people either have a lot of assets, such as through inheritance, or they have a flawless banking relationship and history with those banks for over 3-4 decades. It's not something that can be built in a couple of years.

[09Lexie]

The cap is determined by the lender based on factors they will not share. You would be simply notified you've reached their internal CL. Income, pyt history, cr profile and assets are all considered when assigning CL's.

[Luscher]

i doubt any one lender will give you the same CL as your income but I do see you being to have double CL as your income spread out between different companies. they all want your business