What's your ACL (Average Credit Limit)?

[firefox100]

Question for im_High did you need to provide doc for your synchrony verizon creditcard?

[firefox100]

im_High on your Verizon card when you went over 25K with Synchrony did they ask for doc. When I tryed to go over 25K limit they wanted a copy of my front of tax return.

[Gunnerboy]

Seven cards (personal only):

TCL = $184,700

ACL =   $26,386

Median = $25,000

[Aim_High]

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@BrutalBodyShots wrote:

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@Aim_High wrote:

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Thanks very much for the ACL compliment.  You're doing pretty good yourself and almost caught up to me!  I like that clean 9-card-or-less lineup. 

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Hey @Aim_High... a minor update that's pretty crazy. I got a minor CLI the other day on my BoA CCR, posted about here:

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/BoA-CCR-CLI-23k-gt-25-8k/td-p/6850192

So how nuts is this. The other day, you said your ACL was $41,454 and mine was $41,166. After that $2800 CLI referenced above, spread across 9 cards, my ACL increases $311. That puts me at $41,477. 

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Lol ... looks like we are neck-and-neck @BrutalBodyShots.  You were correct in my posting about the >$1K CLI on my CITI Costco card<.  That puts my personal limits at $913K over 22 cards, so an average of $41,500, $23 ahead of 'ya!! 

[Aim_High]

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@firefox100 wrote:

im_High on your Verizon card when you went over 25K with Synchrony did they ask for doc. When I tryed to go over 25K limit they wanted a copy of my front of tax return.

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Hey @firefox100.  Sorry I missed these two questions and tags from December.  The tags didn't highlight properly as the "A" cut out on both of them so I wasn't notified. 

No, Synchrony didn't ever ask for docs on either my Lowe's or Verizon cards.  The Verizon was approved at a pretty high $30K and they've declined to increase it due to maximum lending policy.  The Lowe's was approved at $13K and they let me take it directly to $35K with no questions.  I had only held it for about two months when I asked for that CLI on the Lowe's card. 

I believe that lenders have indirect ways to approximate household income and may ask for documentation if they have questions.  It could also have to do with sources of income or things of that nature.  I've seen lenders ask some of our members for documentation when they are self-employed or have irregular income from commissions or payments other than salaries. 

[bs1234]

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@BrutalBodyShots wrote:

I've always found ACL to be a more interesting metric than TCL since TCL can be increased two ways... opening more cards or increasing limits on existing cards. 

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Late to the thread but I don't quite understand this.   Obviously ACL can be impacted (to a different extent agreed) by the same things.    I assume you mean something like if I am tracking TCL, then opening a card with a $2K CL is still a win, although that would perhaps trash an ACL.

But on the flip side, if you focus on ACL, closing low CL cards becomes a win, even though that decreases TCL.    So to my mind, both metrics are equally useful or useless.

Plus, as an ex-mathie,  we have to consider the edge case of the person with no cards!  TCL is clearly $0, but what is the ACL?

[Guyatthebeach]

@BrutalBodyShots,

My ACL is 13,056 with total of 692,00 having 53 cards. I still have all the same credit rebuild cards open from when I was rebuilding after my bankruptcy in 2012.

I plan on closing all three cards with Penfed sometime this year. Cards with BCU, Truist, a couple with Synchrony, and a couple of store cards are on the chopping block. 

Guyatthebeach

[Slabenstein]

Currently at $23,066.67 ACL from six cards.  Probably an indication that I should reduce, as that's like half of my income per card.

[Life_take2]

This is an interesting topic. For Me: In terms of credit cards only (not inc store cards, CLOC, PCL, HECL) : 14 Cards for 235,600 for an ACL of 16,830. Ironically, if I add all revolving credit, including store cards, CLOC, PCL, HECL: 20 Accounts for 337,100 for an ACL of 16,855, so not much difference all-in. Largest CL 46,000

[AndrewF]

Discover, Barclay's, and American Express are dragging me down.

Discover won't give me a CLI from $3000 and $3300 and AmEx opened my BCE recently with the $1,000 special. Barclay's recently (Priceline) at $2,000. LOL

Capital One gave me $5,500, $20,000, and $30,000.

Chase Amazon Prime at $5,100 recently opened through recon after IIB Chase in chapter 7 in 2020, Synchrony Amazon at $4,500.

PayPal Synchrony at $8,800.

Wells Fargo Active Cash at $10,500.

I'm mostly not even using the Discover anymore (both frozen) and just keeping them open so they continue to age, occasional small purchase. 

Will try to get CLI out of AmEx soon.

Considering closing the Synchrony Amazon since I have the Chase. It's frozen. Might keep it to continue aging it. But if they close it for inactivity I don't care.

One of my FICO negative reason codes was too many credit cards. But I'm not sure if trimming two Discovers and the Synchrony Amazon will help that.