Question regarding SL and Approvals in General

[christine123]

Do some credit card lenders determine approval and how much your SL will be based on your credit performance with other cards? In other words, if they see you do well with other higher limit cards, are they more likely to approve you with a higher SL even if your credit score is mediocre because they see you are handling them well? 

[SouthJamaica]

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@christine123 wrote:

Do some credit card lenders determine approval and how much your SL will be based on your credit performance with other cards? In other words, if they see you do well with other higher limit cards, are they more likely to approve you with a higher SL even if your credit score is mediocre because they see you are handling them well? 

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1. Welcome to the forum.

2. I'm sure it's mostly done by algorithms, and the algorithms would take into account your score, your on time record, the size of the limits you already have, and the balances you already have.

3.  How you're "handling" accounts is not a defined term. E.g., if you're paying an account on time, but utilizing a very high percentage of your limit, is that "handling" the account well? I don't know.  Probably not, as far as lenders are concerned.

4.  I doubt there's anything in the algorithms that evaluates how you're "handling" accounts with larger limits.

[Kforce]

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@SouthJamaica wrote:

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@christine123 wrote:

Do some credit card lenders determine approval and how much your SL will be based on your credit performance with other cards? In other words, if they see you do well with other higher limit cards, are they more likely to approve you with a higher SL even if your credit score is mediocre because they see you are handling them well? 

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1. Welcome to the forum.

2. I'm sure it's mostly done by algorithms, and the algorithms would take into account your score, your on time record, the size of the limits you already have, and the balances you already have.

3.  How you're "handling" accounts is not a defined term. E.g., if you're paying an account on time, but utilizing a very high percentage of your limit, is that "handling" the account well? I don't know.  Probably not, as far as lenders are concerned.

4.  I doubt there's anything in the algorithms that evaluates how you're "handling" accounts with larger limits.

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^^^^ This

My personal order of importance for starting CL

1)  Score

2)  Income

3)  Age of credit history

4)   Issuer

5)  Which card of issuer (some are better at Cl's than others

6)  Other card's CL's

[GZG]

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@christine123 wrote:

Do some credit card lenders determine approval and how much your SL will be based on your credit performance with other cards? In other words, if they see you do well with other higher limit cards, are they more likely to approve you with a higher SL even if your credit score is mediocre because they see you are handling them well? 

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Capital One directly cites this as one of the things they might look at 

but I would agree that issuer/card/income/age of credit history/no derogs/no recent derogs are far more important factors for higher CLs 

[MarkintheHV]

Here are some data points. 

Both wife and I applied for Chase Amazon cards.  I have significantly larger credit lines, but, my wife has a better average open account age.  We both reported household income the same on both apps, and our scores are pretty close.  She got approved for 20k, and I got approved for 10k.  I applied first, and she applied a month or so later.