What is the total credit ceiling with repect to the annual income ?

[Anonymous]

I have reached the 50k credit in total with different lendors. I don't want to close my accounts to get new. I was wondering how much limit one can get w.r.t to the Annual income. Thanks in advance.

[DeeBee78]

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@Anonymous wrote:

I have reached the 50k credit in total with different lendors. I don't want to close my accounts to get new. I was wondering how much limit one can get w.r.t to the Annual income. Thanks in advance.

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There was a thread about this earlier today. Pleaes search the recent posts before asking again. 

http://ficoforums.myfico.com/t5/Credit-Cards/Too-much-available-credit-updated/td-p/4015680

[takeshi74]

No such thing.  Each creditor has their own underwriting criteria so what a creditor is willing to extend to a given credit profile can and does vary.  There are some discussions based on aggregated anecdotal evidence that seem to suggest some trends such as 40% for AmEx but even those are YMMV and you have to consider that the data source (forum posts) is probably skewed.  Income is only one factor among many.

[Anonymous]

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@takeshi74 wrote:

No such thing.  Each creditor has their own underwriting criteria so what a creditor is willing to extend to a given credit profile can and does vary.

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@I agree with @takeshi74 here..

[Anonymous]

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@Anonymous wrote:

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@takeshi74 wrote:

No such thing.  Each creditor has their own underwriting criteria so what a creditor is willing to extend to a given credit profile can and does vary.

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@I agree with @takeshi74 here..

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+1

My total CL is about 2X my annual gross income.

[chalupaman]

Well past my own income in credit, still able to get more and passed that milestone last year. that's been the common trend with a lot of people here and on other credit websites. But it also takes time to get to that point.

[Gunnar419]

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@Anonymous wrote:

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@Anonymous wrote:

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@takeshi74 wrote:

No such thing.  Each creditor has their own underwriting criteria so what a creditor is willing to extend to a given credit profile can and does vary.

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@I agree with @takeshi74 here..

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+1

My total CL is about 2X my annual gross income.

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Same here.

There is no objective upper limit. It depends entirely on the policies of individual lenders and on your profile. My income is pretty low but my history is both long and perfect. There's no sign that lenders are worried about my total CLs yet or ever will be.

[kdm31091]

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@Anonymous wrote:

I have reached the 50k credit in total with different lendors. I don't want to close my accounts to get new. I was wondering how much limit one can get w.r.t to the Annual income. Thanks in advance.

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I hate to be so general but it's going to vary with the individual and other then the issuer no one can really answer this for you. I won't tell you "sure you can obtain x amount more credit" because I don't know. I'm not an underwriter. Nobody on a forum can tell you what the ceiling is.

Anecdotally my credit is just a bit over my actual yearly income. To be honest, I wouldn't be very comfortable with 3x or 4x my income but some people don't mind it. I just would feel overwhelmed with it. If your income is $40k, for example, I'm not sure you really need $100k in credit but it's a personal decision.