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Credit Limits above $50K ... anyone?

redpat
Senior Contributor

Re: Credit Limits above $50K ... anyone?


@AverageJoesCredit wrote:
@redpatwins the Interwebz for SDing a 50k Chase CSRSmiley Happy

I salute you!Smiley Happy🙋‍♂️

AJC, I'm just waiting around for them to slash it but I think I might be safe because I still put sizable amount of spend on my ink+ card.  

 

 

Personal Cards: Amex Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 31 of 48
iced
Valued Contributor

Re: Credit Limits above $50K ... anyone?


@FinStar wrote:

@longtimelurker wrote:

@Anonymous wrote:

 

Lenders are already dumb enough in many instances to hand out monster $80k limits to people like many of us that request a ton of CLIs while only using a tiny (in many cases 0%-1%) percentage of our current limit.  They'd be even dumber (and therefore do it far less) to hand out those same monster limits or greater to those that seemingly have no desire and never request increases.


I think this is too biased to credit forum based thinking!   I would guess that most "real-world" card holders don't request CLIs very much, if at all, and many/most not even be aware it is an option.   So it's certainly possible that banks don't think of "no request" as no desire, and instead use card history, credit reports and other info to assess the chance of nudging more spending on their cards, and do auto CLIs for target customers, including, and perhaps especially, those with high limits who in general are going to be more affluent.

 

So from this view, with about equal evidence, it's those who repeatedly ask for CLIs (for no obvious good reason!) that are the outlier way of reaching large CLs


Precisely.  Not only that, the examples that were cited upthread are not in the 'outlier' variety considering that this forum represents a fairly small fraction of actual real world scenarios.   Not every affluent or HNW is a participant of this forum so it's silly to assume I'd be the only one (or 1 in 100) who has fairly similar outcomes to cite anything as such is next to impossible.   


Surprising that not once in any of this have I seen the R-word: risk. That's really what's driving these decisions - not income, not desire, not ignorance or anything else, really.

 

Some banks will pro-actively extend additional credit to someone who didn't ask because the risk assessments they've run tell them there's a greater chance that individual would spend more with them while not placing unreasonable additional risk on them.

 

A risk assessment may suggest that an individual may not necessarily spend more on their cards, so there's nothing to be gained (or lost) by extending them more credit...so they don't. However, because there's nothing to lose either, that individual would be successful should they request a CLI.

 

Yet another assessment may suggest that the risks to extending additional credit outweigh the gains and/or increase risk to an unacceptable level. Those people won't get more even if they ask.

 

I would argue the only role affluence/income plays in this is to help frame and support the spend levels seen, but aside from that it really has no bearing. There seems to be a correlation but it's actually cooincidence; it's only because higher income individuals are usually more able to spend more monthly than lower income individuals. However, a low income individual who spends more (and repays!) than a high income individual will be more likely to get the larger limit based on the above risk assessments.

Message 32 of 48
Anonymous
Not applicable

Re: Credit Limits above $50K ... anyone?


@longtimelurker wrote:


I think this is too biased to credit forum based thinking!   I would guess that most "real-world" card holders don't request CLIs very much, if at all, and many/most not even be aware it is an option.   So it's certainly possible that banks don't think of "no request" as no desire, and instead use card history, credit reports and other info to assess the chance of nudging more spending on their cards, and do auto CLIs for target customers, including, and perhaps especially, those with high limits who in general are going to be more affluent.

 

So from this view, with about equal evidence, it's those who repeatedly ask for CLIs (for no obvious good reason!) that are the outlier way of reaching large CLs


Good points.  Without sufficient spend, though, the chances of one obtaining a $80k+ limit via auto-CLIs is extremely small relative to those that don't.  That's really the point I was getting after.

 

You are probably right that people that mark their calendars for 6 months to hit the CLI button again may be considered outliers as well, but think about how many people that never know they can receive a CLI (by asking) sit at the same $3k, $5k, $10k, whatever limit essentially forever on their account.  That number is absolutely huge relative to any number of people that obtained a $80k+ limit via auto-CLIs.

Message 33 of 48
Anonymous
Not applicable

Re: Credit Limits above $50K ... anyone?


@iced wrote:

A risk assessment may suggest that an individual may not necessarily spend more on their cards, so there's nothing to be gained (or lost) by extending them more credit...so they don't. However, because there's nothing to lose either, that individual would be successful should they request a CLI.

 


Right and what you stated above I think is what happens the vast majority of the time.  Almost by default as a group those that request CLIs are going to possess greater limits than those that don't.  It goes back to the squeaky wheel gets the grease.  It doesn't mean that a non-squeaky wheel won't also get grease at times, just less often as a whole.

Message 34 of 48
pinkandgrey
Community Leader
Senior Contributor

Re: Credit Limits above $50K ... anyone?

I don’t personally have any limits anywhere near that. However, I think you’ll find a lot of people on this site with limits well above 50k. 

Discover It: 19.7k
Amex Cash Magnet: 18k
Fidelity Visa: 4k
Apple Card: 3k
Message 35 of 48
Aim_High
Senior Contributor

Re: Credit Limits above $50K ... anyone?

@



Length of Credit > 35 years; Total Credit Limits > $600K
AoOA > 29 years (Jun 1993); AoYA (Nov 2021)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 36 of 48
Aim_High
Senior Contributor

Re: Credit Limits above $50K ... anyone?

 
 
 
 
 
 
"... If you don't PUSH them your limits won't move much on their own.  
... Squeaky wheel gets the CLI!"

 

^^^^^^ THIS

 

Thanks for the feedback and discussion, guys.  My biggest takeaway is also my biggest suspicion; that those limits don't usually just "happen" to people who aren't putting thousands or even tens of thousands of dollars a month spending through that card on every cycle.  

 

I need to be more more "squeaky" since I will rarely need to actually USE a large portion of a $50K or more credit line. 



Length of Credit > 35 years; Total Credit Limits > $600K
AoOA > 29 years (Jun 1993); AoYA (Nov 2021)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 37 of 48
iced
Valued Contributor

Re: Credit Limits above $50K ... anyone?


@Aim_High wrote:
 
 
 
 
 
 
"... If you don't PUSH them your limits won't move much on their own.  
... Squeaky wheel gets the CLI!"

 

^^^^^^ THIS

 

Thanks for the feedback and discussion, guys.  My biggest takeaway is also my biggest suspicion; that those limits don't usually just "happen" to people who aren't putting thousands or even tens of thousands of dollars a month spending through that card on every cycle.  

 

I need to be more more "squeaky" since I will rarely need to actually USE a large portion of a $50K or more credit line.  Like many of us, I just want it to pad my credit utilization and elevate my credit scores and status.


Large limits do not elevate one's status. I've never gotten comped a meal or complimented because of my limits. Until there's a card out there that gives you additional benefits for having a limit over a certain amount (no, Signature/World Elite is not additional benefits) that's not going to change.

Message 38 of 48
MaizeandBlue
Senior Contributor

Re: Credit Limits above $50K ... anyone?


@Aim_High wrote:

@


8/23/17 - $2,000 SL - 647 EX FICO 8 Hard pull

11/25/17 - $5,900 CL - 655 TU FICO 8 Hard pull

3/26/18 - $13,000 CL - 702 TU FICO 8 Hard pull

3/29/18 - Requested conversion to Visa Signature

7/3/18 - $23,100 CL - 693 TU FICO 8 Soft pull

10/6/18 - $37,000 CL - 751 EX FICO 8 Soft pull

1/5/19 - $50,000 CL - 761 TU FICO 8 Soft pull

4/29/19 - $70,000CL - 769 TU FICO 8 Soft pull

 

The card is my daily driver so I generate lots of swipe fees for BOA; plus I've run some large purchases through the account and always PIF.  There are a few people here with the BOA Cash Rewards card who have credit limits of $99,900 and probably a few others with six-figure limits.





Message 39 of 48
Obscure-Expert
Valued Contributor

Re: Credit Limits above $50K ... anyone?

Comps and Status aren't related to the plastic you carry other than a benefit provided mostly on a co-brand.

 

For true C/S it's all in how you handle yourrself when interacting with others.  Even if you have a problem having a nice demeanor about the whole situation usually nets you more favorable results. 

 

What's in your wallet doesn't matter to 99.999% of the people you will interact with on a daily basis.  The cashier or server doesn't know your CL when you use your card and probably doesn't take more than 2 seconds to look at the card because they're too busy to give 2c about it other than hoping you're not going to stiff them on the tip.

500K+ TCL / 800+ FCOs
Message 40 of 48
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