Total CL vs Income?

[Anonymous]

I am curious as to how your income plays into your overal CL, mine is at $107K with an income of $60K. And an average monthly balance of $8K in CCs. Would I be safe to assume that any future apps wouldn't net sizeable SL above $10K? The last two have been in that ballpark, with one just prior ar $14K. Is there a point when we should consider closing out a CC to in order for the new one to net a good SL? Not expecting anything $20K or above just hoping they don't start dropping too low like under $5K. 

When I apped for the BBP I only got $9,500, $5K of which came from my BCE. While that;s probaly just an internal thing, I recently I apped for the Lowe's Biz w/PG and only got $2K SL.

Not sure if this is just because of it being Biz accounts and I have no Biz credit. Or if being close to my ceiling on personal side is also comming into play. 

[Anonymous]

I've got $73,150 between 12 cards and a CLOC with $18K of income and my most recent approval was a SavorOne at $10K. I would say that your $8K revolving balance would hold you back vs my PIF though. 

[gdale6]

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@Anonymous wrote:

I am curious as to how your income plays into your overal CL, mine is at $107K with an income of $60K. And an average monthly balance of $8K in CCs. Would I be safe to assume that any future apps wouldn't net sizeable SL above $10K? The last two have been in that ballpark, with one just prior ar $14K. Is there a point when we should consider closing out a CC to in order for the new one to net a good SL? Not expecting anything $20K or above just hoping they don't start dropping too low like under $5K. 

When I apped for the BBP I only got $9,500, $5K of which came from my BCE. While that;s probaly just an internal thing, I recently I apped for the Lowe's Biz w/PG and only got $2K SL.

Not sure if this is just because of it being Biz accounts and I have no Biz credit. Or if being close to my ceiling on personal side is also comming into play. 

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You have a ways to go i'm just a little over 4x income in total available CLs while revolving about 6K out of that. At some point income will enter into it but if you show that you do not run all your cards up and then not PIF monthly you should have no problem getting approvals of 10K+. Space your apps out and keep your Ficos 760+ and you are gold.

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[Anonymous]

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@Anonymous wrote:

I've got $73,150 between 12 cards and a CLOC with $18K of income and my most recent approval was a SavorOne at $10K. I would say that your $8K revolving balance would hold you back vs my PIF though. 

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HOLY COW! You're $73,000 in debt and you only make 18k a year? How is that even possible?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I've got $73,150 between 12 cards and a CLOC with $18K of income and my most recent approval was a SavorOne at $10K. I would say that your $8K revolving balance would hold you back vs my PIF though. 

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HOLY COW! You're $73,000 in debt and you only make 18k a year? How is that even possible?

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Those are my credit limits, not my debt. I have no debt as I PIF and don't even have an installment loan. 

[CreditInspired]

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@Anonymous wrote:

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@Anonymous wrote:

I've got $73,150 between 12 cards and a CLOC with $18K of income and my most recent approval was a SavorOne at $10K. I would say that your $8K revolving balance would hold you back vs my PIF though. 

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HOLY COW! You're $73,000 in debt and you only make 18k a year? How is that even possible?

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Not $73K in debt. @Anonymous has a total credit line of $73K.

[Anonymous]

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@CreditInspired wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I've got $73,150 between 12 cards and a CLOC with $18K of income and my most recent approval was a SavorOne at $10K. I would say that your $8K revolving balance would hold you back vs my PIF though. 

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HOLY COW! You're $73,000 in debt and you only make 18k a year? How is that even possible?

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Not $73K in debt. @Anonymous has a total credit line of $73K.

Oh! I completely misread his/her post.

EDIT: Still though, you have access to 73k yet you only  make 18k a year? How is THAT even possible... too? So, let's say I make roughly 36k a year after taxes, what kind of CL would I have access to? Provided I pay all my bills and maintain excellent credit history? 

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[FireMedic1]

OP. When I started rebuilding back in 2015. I was so worried about passing my yearly income. I turned in 16k to Cap1 because i was scared to pass my income. And I heard about it from the old timers then. But as I learned more here. It doesnt really matter actually. Its how you handle your credit. Now? Doesn't bother me in the least. Turning in that 16k got me 29k more with more approvals. Now at 76k+. Doesnt even cross my mind any longer.

[Anonymous]

Honestly the sky is the limit when you have the profile to support it. Capital One has extended my more credit than any lender at $18,250 between two cards and three of my cards are $10K or more - my SavorOne, my Discover IT, and my NFCU Platinum. I have some low limit cards that bring down my average but I still have a $6K average credit card limit.

It’s definitely all about the relationships you build with your lenders.

[AverageJoesCredit]

At 60k, you havent even scratched what you can accomplish in credit limits. Ill trade you yours for mine lol