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Your Total Available Credit VS. Income?

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Broke_Triathlete
Valued Contributor

Re: Your Total Available Credit VS. Income?


@Anonymous wrote:

@Broke_Triathlete wrote:
All my stuff is in my sig.

I never could wrap my head around why people put so much personal information in their signature... 


What can someone possibly do with the information? I put the stuff in my sig so when I ask a question regarding a credit decision people here will have a good idea of my credit picture so I can get the best advice possible. It's not like I'm putting my credit card numbers, social security number, address or DL # in my signature. For all anyone knows this is made up stuff anyways...

 

ETA: Also, this is the stuff MyFico'ers ask you for when you post up a question regarding credit and what you should do. So if you want to help on here you'll need to post that kind of "personal" information anyways.

Personal:

Business:


Message 71 of 86
Thomas_Thumb
Senior Contributor

Re: Your Total Available Credit VS. Income?


@Anonymous wrote:

Haha, think I have everyone beat.  Total credit is 4% of my total yearly income.  Boom


Close but no cigar. Came across a post a couple weeks ago by someone with no CCs who just paid off his last installment loan. Credit score above 720 with $0 total credit.

 

Income likely low as the person is retired - but $0 credit => 0% of yearly income regardless.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 72 of 86
Anonymous
Not applicable

Re: Your Total Available Credit VS. Income?

My CL is somewhere between 52% and 62% of my income, depending on my bonus for the year.

Message 73 of 86
Dj4Money
Established Contributor

Re: Your Total Available Credit VS. Income?


@Anonymous wrote:
No real privacy concerns involved here, it's just none of anyone's business.

 Bullsh*t! 

 

 In 'Murica, everybody ask "What do you do for a living", "Where do you work", or any variation of that. That is the same as asking how much money you make as there plenty of sites that give a window of what a particular occupation makes like Pay Scale and Glassdoor. 


 Tell me what you do and I can pretty much figure out what you make. Most startups are in the red, meaning in real terms they have negative income but still have money in their pockets.

 

 I don't give a F -

 

 I made just over $14,000 last year, I have $4004 in credit card limits, my car payment works out to $4149 a year and my insurance is $2220 a year.  In the first five months of this year I have almost doubled my income and I expect that to continue to increase.

 

 So that works out to just under 29% of income I have in credit card limits.

 

 If people are able to get 100.200 and 300% of income, then I have plenty to look forward too this year and next year.

 

 

 

 

Message 74 of 86
Anonymous
Not applicable

Re: Your Total Available Credit VS. Income?


@Broke_Triathlete wrote:

@Anonymous wrote:

@Broke_Triathlete wrote:
All my stuff is in my sig.

I never could wrap my head around why people put so much personal information in their signature... 


What can someone possibly do with the information? I put the stuff in my sig so when I ask a question regarding a credit decision people here will have a good idea of my credit picture so I can get the best advice possible. It's not like I'm putting my credit card numbers, social security number, address or DL # in my signature. For all anyone knows this is made up stuff anyways...

 

ETA: Also, this is the stuff MyFico'ers ask you for when you post up a question regarding credit and what you should do. So if you want to help on here you'll need to post that kind of "personal" information anyways.


While I see your point, I guess we are on 2 different levels when it comes to that sort of thing. Really, "myFICOer's" can't give you the exact details on anything but their experiences... So what's the difference if you make 50k vs 100k and wanting to app for a card? Not much. It just doesn't make sense to me...

 

 

Message 75 of 86
Anonymous
Not applicable

Re: Your Total Available Credit VS. Income?

EDIT: I have just about 100% of my total income, in available credit. 

Message 76 of 86
Anonymous
Not applicable

Re: Your Total Available Credit VS. Income?


@Dj4Money wrote:

@Anonymous wrote:
No real privacy concerns involved here, it's just none of anyone's business.

 Bullsh*t! 

 

 In 'Murica, everybody ask "What do you do for a living", "Where do you work", or any variation of that. That is the same as asking how much money you make as there plenty of sites that give a window of what a particular occupation makes like Pay Scale and Glassdoor. 


 Tell me what you do and I can pretty much figure out what you make. Most startups are in the red, meaning in real terms they have negative income but still have money in their pockets.

 

 I don't give a F -

 

 I made just over $14,000 last year, I have $4004 in credit card limits, my car payment works out to $4149 a year and my insurance is $2220 a year.  In the first five months of this year I have almost doubled my income and I expect that to continue to increase.

 

 So that works out to just under 29% of income I have in credit card limits.

 

 If people are able to get 100.200 and 300% of income, then I have plenty to look forward too this year and next year.

 

 

 

 


Yeah... 

Message 77 of 86
UncleB
Credit Mentor

Re: Your Total Available Credit VS. Income?


@Broke_Triathlete wrote:

@Anonymous wrote:

@Broke_Triathlete wrote:
All my stuff is in my sig.

I never could wrap my head around why people put so much personal information in their signature... 


What can someone possibly do with the information? I put the stuff in my sig so when I ask a question regarding a credit decision people here will have a good idea of my credit picture so I can get the best advice possible. It's not like I'm putting my credit card numbers, social security number, address or DL # in my signature. For all anyone knows this is made up stuff anyways...

 

ETA: Also, this is the stuff MyFico'ers ask you for when you post up a question regarding credit and what you should do. So if you want to help on here you'll need to post that kind of "personal" information anyways.


+1

 

There is so much more to me and my financial life than the cards I display in my signature. 

 

Heck, my favorite cashiers at stores I frequent could just as easily figure out the major cards in my wallet if they were to watch closely (I tend to be a repeat shopper)... I'm not afraid to share that here, and it does generally help to move the conversation along when I have a question for the community.  Smiley Wink

Message 78 of 86
Broke_Triathlete
Valued Contributor

Re: Your Total Available Credit VS. Income?


@Anonymous wrote:

@Broke_Triathlete wrote:

@Anonymous wrote:

@Broke_Triathlete wrote:
All my stuff is in my sig.

I never could wrap my head around why people put so much personal information in their signature... 


What can someone possibly do with the information? I put the stuff in my sig so when I ask a question regarding a credit decision people here will have a good idea of my credit picture so I can get the best advice possible. It's not like I'm putting my credit card numbers, social security number, address or DL # in my signature. For all anyone knows this is made up stuff anyways...

 

ETA: Also, this is the stuff MyFico'ers ask you for when you post up a question regarding credit and what you should do. So if you want to help on here you'll need to post that kind of "personal" information anyways.


While I see your point, I guess we are on 2 different levels when it comes to that sort of thing. Really, "myFICOer's" can't give you the exact details on anything but their experiences... So what's the difference if you make 50k vs 100k and wanting to app for a card? Not much. It just doesn't make sense to me...

 

 


I understand members here can't give you the exact answers as no one can but there are a lot of really experienced people here so it definitely helps to have their opinion. In order to get the best opinion then some information like this is necessary. Income starts to play a role once you're upwards 100%-200% of available credit in relation to your income. My situation is a shining example because I'm currently over 100%. Using your numbers above if I made $100K then I have a lot more wiggle room to get up to 100% of my income and would than likely have less issues getting approved than with what I'm currently making.

 

Likewise if I posted a thread asking if I should app for another C1 card with what I'm currently making, hypothetically of course, Smiley Happy I'd expect someone like MJ, UncleB, KDM or CreditCuriosity to say no don't do that because of how much credit I have with C1 already in relation to my current income. Now, they may not say that as I can't speak for them, and that may not be the case at all, but is a possiblity that could be said and in turn may help me from wasting an Inq. There is a pretty big difference between $50K and $100K because only 9.5% (according to Google) of men make $100K or more. Obviously creditors won't lend to you if they don't feel you can pay them back so having double the income for anyone would put the creditors at ease and in turn would be more apt to lend you more in credit. 

 

I don't see what the big deal of knowing what people make anyways. I don't judge anyone because of what they make and I certainly hope I don't get judged. If I do, oh well, not my problem. If someone is insecure with what they make then they should find a way to make more money. With how the world works now all it takes is someone to know what you do for a living and they can find out an idea of what you make. Of course there are outliers but one could figure out pretty accurately what "bucket" to put you in.

 

I could completely understand your view if I was posting my account numbers and other information that is directly linked to me and could be used against me. However, these "hypothetical" numbers cannot be used against me in any way. 

 

ETA: Spelling. Stupid iPhone.

Personal:

Business:


Message 79 of 86
Broke_Triathlete
Valued Contributor

Re: Your Total Available Credit VS. Income?


@UncleB wrote:

@Broke_Triathlete wrote:

@Anonymous wrote:

@Broke_Triathlete wrote:
All my stuff is in my sig.

I never could wrap my head around why people put so much personal information in their signature... 


What can someone possibly do with the information? I put the stuff in my sig so when I ask a question regarding a credit decision people here will have a good idea of my credit picture so I can get the best advice possible. It's not like I'm putting my credit card numbers, social security number, address or DL # in my signature. For all anyone knows this is made up stuff anyways...

 

ETA: Also, this is the stuff MyFico'ers ask you for when you post up a question regarding credit and what you should do. So if you want to help on here you'll need to post that kind of "personal" information anyways.


+1

 

There is so much more to me and my financial life than the cards I display in my signature. 

 

Heck, my favorite cashiers at stores I frequent could just as easily figure out the major cards in my wallet if they were to watch closely (I tend to be a repeat shopper)... I'm not afraid to share that here, and it does generally help to move the conversation along when I have a question for the community.  Smiley Wink


You're completely right. There are people that come in contact with more of my personal information on a daily basis than I would ever post here on the internet. Just yesterday I used 3 different cards, my debit card, showed my drivers license, etc. 

Personal:

Business:


Message 80 of 86
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