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HHI & CL.

Creditin
Established Member

HHI & CL.

Hello everybody,

I read here that I can use the HHI when I apply for credit. True?.

I've been using my income only. 60k. And all my cards have been limited to 5K CL.

If I use the HHI it would be 200k. Well, she went to school.

Will it make a difference in CLs if I use HHI?. And when can I use it?.

The mortgage is on her name. Something that is holding me back. They have told me so.

Also, when I apply, I put 0 when they ask for rent or mortgage. Is this correct?.

How can I improve my chances of having higher credit limits?.

Thank you for valued replies.

Cheers.

Message 1 of 6
5 REPLIES 5
aj2121
Frequent Contributor

Re: HHI & CL.

I always check if the fine print below income says "For those over the age of 21 that have reasonable access to another's income you may include that" or somethin to that effect. If that line is present (it is for every card I have) then I include household income. If it isn't, I do not include HHI. Most installment loan applications do not have this disclaimer, so I don't include HHI on those.

 

Since your HHI is more than your income alone, you are likely to see higher limits. But this is not guaranteed.

 

As for the mortgage; I am in the same situation. The mortgage is just in my wife's name. My name, however, is on the deed. This causes the mortgage info to be displayed in the Third Party Supplemental Information section of my credit report. I am not sure this would be noticed by a computer system, but it could be picked up under manual review. The strategy I use when applying is if I am giving HHI then I include the mortgage payment for housing payment. If I am applying with just my income I put $0 for mortgage and choose the "live with family" or similar option.

 

Higher limits are going to be partially determined by credit history, income, and existing limits. In my experience, higher limits beget higher limits. If you are trying to up your limits, request CLIs from all of the cards you have that allow for soft pull CLI and include your HHI on the request. If you aren't getting approved for these increases, review the denial letters and determine what you need to work on in your credit profile to start earning those CLIs. Once you have higher limits on your current cards you are more likely to get higher starting limits on future applications.

FICO8 as of 4/9/21:
Message 2 of 6
GatorGuy
Established Contributor

Re: HHI & CL.


@Creditin wrote:

Hello everybody,

I read here that I can use the HHI when I apply for credit. True?.

I've been using my income only. 60k. And all my cards have been limited to 5K CL.

If I use the HHI it would be 200k. Well, she went to school.

Will it make a difference in CLs if I use HHI?. And when can I use it?.

The mortgage is on her name. Something that is holding me back. They have told me so.

Also, when I apply, I put 0 when they ask for rent or mortgage. Is this correct?.

How can I improve my chances of having higher credit limits?.

Thank you for valued replies.

Cheers.


You will likely see much higher limits at $200k income than $60k.

 

Personally I always use since household income since I'm married and we don't have separate accounts so her income is mine and vice versa. We file jointly so if they wanted a tax return it isn't a problem. 

Message 3 of 6
dragontears
Valued Contributor

Re: HHI & CL.


@Creditin wrote:

Hello everybody,

I read here that I can use the HHI when I apply for credit. True?.

I've been using my income only. 60k. And all my cards have been limited to 5K CL.

If I use the HHI it would be 200k. Well, she went to school.

Will it make a difference in CLs if I use HHI?. And when can I use it?.

The mortgage is on her name. Something that is holding me back. They have told me so.

Also, when I apply, I put 0 when they ask for rent or mortgage. Is this correct?.

How can I improve my chances of having higher credit limits?.

Thank you for valued replies.

Cheers.


Honestly, I don't think that it is your income that is limiting your credit lines to 5k. There are plenty of people that have income lower than 60k with limits higher than 5k.

Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 4 of 6
Creditin
Established Member

Re: HHI & CL.

Thank you all for your kind replies.

There's a little of everything not working in my favor.

I had a big BK in 2008. Big7. Big as in the max 7 allows and then some.

I lost my biz, some girlfriends. 2 houses. Lost my cars. The works.

Then I swore I would never use a credit card again. I blamed the cards.

It was me trying to have the same standard of living without money.

 

I held firm using cash only. Even for cars. Not too fancy cars.

Then, one day, I got tired of using my wife's cards to get me

a simple reservation, or a car rental, etc. and decided to check

my credit report. That was 2018. The BK fell off, and I still had some

old credit reporting fine. I couldn't put everything in the bk. Or they were good to me.

Credit score was 590. Not as bad as I thought.

Credit One offered a credit card that I refused.

Before charging a penny, I owed more than half the credit line.

Then I started with good ole Capital One. Platinum.

300 bucks and a possibility of 500 if I paid on time for 6 months.

Today, I tried to raise my limit with them, and they offered 100 more CLI.

Which I refused. That wasn't and offer, but an offense.

In fact, I'm seriously considering closing my 3 measly cards with them.

Those 500, plus Walmart 700 and Quicksilver 1k. Shameful.

I think those cards are dragging me down, like someone mentioned.

When they look at my report and see those limits, I'm a lightweight.

I'm going with the AU route. Let's see how much she trust me now.

I got into another business failure. I've been paying 20k I got on her credit,

and some of mine for two years. Not even smoking or drinking anymore.

Swallowing blood, sweat and tears. And then some.

I found Wallethub which forced me into the Avalanche. I followed to the T.

And made 3 balance transfers @18 months no interest. I'm lucky in my disgrace.

I'm proud to say that: Today, I don't owe a penny to any credit card.

My next report will be all zeros. Even if I don't do AZEO.

It's personal satisfaction. And satisfaction costs money.

The FAKOS say, 805TU, 797EQ. But I still have **bleep**icredit.

Next month, an initial fraud alert I made last year with Experian, out of rage, falls off. (Off topic.)

Then, I'll be receiving all the junk mail like everybody else.

Hopefully, I will get decent offers then. And closing CAP1 will be another satisfaction.

Thank you all for reading. I apologize for the rant.

Cheers.

 

 

Message 5 of 6
LaHossBoss
Senior Contributor

Re: HHI & CL.

@Creditin while the Cap One offer feels offensive, be glad it wasn't just a straight denial. If you credit limit is under $1500, they are generally only granting requested (non auto CLIs) increases for 10% of the limit, rounded to the nearest hundred. So if your limit is under $1500, that would mean a $100 CLI. That is just how Cap One rolls now. While it feels personal, it isn't, that is just their standard for the time being. Any CLI is better than no CLI if you are waiting in the garden for better cards.




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Message 6 of 6
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