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What's the highest credit limit any of you have as a percentage of income

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Established Member

What's the highest credit limit any of you have as a percentage of income

I got my US Bank Cash+ Visa Signature in September 2015 with a $1000 starting limit and I think it was a visa platinum at the time. It was my first credit card. I was making $9/hr at about 24 hours per week. Sometime in Spring 2017, they sent me an offer in the mail to raise the limit to $5000, an offer I accepted by September 2017. Now they've sent me an offer saying "Great news! You may qualify for a credit line increase on your U.S. Bank Cash+ Visa Signature Card of up to $4,000 on top of your current revolving credit line of $5,000". I would currently report about 20K/year in income were I to take this up, but I wanna work on my other cards and possibly months or a year or two down the road, open another.


US Bank Cash+ Visa Signature $5000 | Chase Freedom $1500 | JCPenney $1500 | Bank of America Cash Rewards $2500 | DIscover It Cash Back $3500 | American Express Blue Cash Preferred $6000 | Chase Freedom Unlimited $1500



On radar:

I will fall under 5/24 in October
31 REPLIES 31
Moderator

Re: What's the highest credit limit any of you have as a percentage of income

That tends to be all over the board. I personally have a $90,000 Bank of America card and I’m an AU on another Bank of America card with a $99,900 limit. Too lazy to do the math right now, but upper-30-something percent of income. At a certain point, it rarely scales. There are lots of posters here with significantly higher credit card limits compared to income.
Message 2 of 32
Established Contributor

Re: What's the highest credit limit any of you have as a percentage of income

In regards to what I read as concern over lender B possibly not giving you increases because of the limit from lender A, it’s been said on here that until you really start pushing limits that are high for your profile, most lenders only consider their own exposure with you. As in, if you make $60k/year, AmEx May still give you $35-40k even though Discover has granted $35k already, which combined would exceed your income. And yeah there are some guys here with huge lines - I think it’s SouthJamaica who is rolling with just a hair under $670k in revolving lines, for example.
Rebuild commenced 5/2018

AmEx Delta Skymiles Gold | AmEx Hilton Honors Ascend | AmEx Hilton Honors | Discover IT | Target | VS | Home Depot | CapOne QuickSilver | Wayfair | Kohl’s



Message 3 of 32
Valued Contributor

Re: What's the highest credit limit any of you have as a percentage of income

Don’t even worry about it, I have $18K and Disco has given me $11,200, NFCU has my Platinum up at $12,700 (it didn’t start that way, it started at $7,200 and I moved some limit from my other card to it but UW still has to approve that and they don’t seem to see a problem) and Synchrony gave me $8K SL on my PayPal card less than 2 weeks after giving me $1,800 on my Amazon which they just increased to $2,200. 

 

My total lines are close to three times my annual and I’ve heard of people with the same level of reported income having limits on single cards exceed their income. 



Scores 1/1/19:
Scores 2/11/19:

Hover over my cards to see my limits!
Goal: Garden... and garden... and garden.
Message 4 of 32
Valued Contributor

Re: What's the highest credit limit any of you have as a percentage of income

My total cc limits are higher than my annual income

Credit rebuild started in 2014  -  $100k total unsecured credit in 2017  -  $200k total unsecured credit in 2018.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                             5%-20% - Amazon & Lowes                       6% Groceries - Amex Preferred (DW)
5% Gas & Sporting - Ducks Unl                 4% Dining & Entertain - Savor                   3% Travel & Hotels - Propel & Uber
2% Everything Else - Venture                    1% Cancer Charity - Fifth Third                 0% Financing Promos - QuickSilver


    $ 30,000           $ 28,500          $ 25,750          $ 17,500          $ 11,500             $8,000             $ 7,500              $ 4,000              $ 3,500

                                                     
                                                                   $ 30,000           $ 10,000           $ 10,000           $ 7,500   
Message 5 of 32
Valued Contributor

Re: What's the highest credit limit any of you have as a percentage of income

15 percent of income. My last 2 cards from Amex had initiail limits of 30k.  I don't see a need to more than 20k limit on a credit card so I don't ask for CLI.  I think the higher income you go the less percentage you are going to get even with stellar credit. I also cancel cards once the anniversary hits so really seems silly to worry about getting them higher as they are going away anyway. 

More cards than I can mention in a signature.
Message 6 of 32
New Contributor

Re: What's the highest credit limit any of you have as a percentage of income

I'm right around 50% of my income in credit card limits.

Message 7 of 32
Regular Contributor

Re: What's the highest credit limit any of you have as a percentage of income

Income $85k

PenFed Power Cash $50k (59%)

BofA Alaska $42.5k (50%)

 

Message 8 of 32
Established Contributor

Re: What's the highest credit limit any of you have as a percentage of income


@K-in-Boston wrote:
That tends to be all over the board. I personally have a $90,000 Bank of America card and I’m an AU on another Bank of America card with a $99,900 limit. Too lazy to do the math right now, but upper-30-something percent of income. At a certain point, it rarely scales. There are lots of posters here with significantly higher credit card limits compared to income.

Smiley Very Happy $90,000 -- straight balla! 

Message 9 of 32
Established Contributor

Re: What's the highest credit limit any of you have as a percentage of income


@tigereyes wrote:

I got my US Bank Cash+ Visa Signature in September 2015 with a $1000 starting limit and I think it was a visa platinum at the time. It was my first credit card. I was making $9/hr at about 24 hours per week. Sometime in Spring 2017, they sent me an offer in the mail to raise the limit to $5000, an offer I accepted by September 2017. Now they've sent me an offer saying "Great news! You may qualify for a credit line increase on your U.S. Bank Cash+ Visa Signature Card of up to $4,000 on top of your current revolving credit line of $5,000". I would currently report about 20K/year in income were I to take this up, but I wanna work on my other cards and possibly months or a year or two down the road, open another.


US Bank Cash+ Visa Signature $5000 | Chase Freedom $1500 | JCPenney $1500 | Bank of America Cash Rewards $2500 | DIscover It Cash Back $3500 | American Express Blue Cash Preferred $6000 | Chase Freedom Unlimited $1500


+1, I agree with @K-in-Boston on this one. This can be a loaded question but it's awesome to see you're already thinking about these things early on. Some of us learned the hard way (after getting denials for reasons like "sufficient credit exposure" because we were chasing cards we didn't actually want/need, but made misguided choices on how to 'beef up' a profile).

 

I think your question can be split in 3 more specific questions; I'll entertain two. 

  • What is the highest Limit to Income ratio on any single credit card?
  • What is the highest Limit to Income ratio from a single bank?
  • What is the highest Limit to Income ratio between all your cards?

Limit to Income on any single card -- most banks will have a certain amount they'll dole out. Some customers with denser/more favorable profiles will see themselves exceed those standards. For example Chase has a generic guideline that they like to stop giving out more money when all your Chase cards combined get to 40-50% of your annual income. If my income is $10k, with a strong profile it would not be suprising for them to hold me hostage on a card with a $5,000 limit. If I were to apply for another card it would be very common for them to say "We can approve you, but we'll need to take some cash off the $5k card to open the new one - care to proceed?" That's just a sample. 

  • For me my highest single card is 54% with Navy. $59,000 Flagship limit against my $108k income

Limit to Income ratio between all bank cards -- same as above this will vary by bank. Some banks focus on only letting customers get X amount of cards at set limits. Using Navy as a sample some cards cap at $50,000 and Flagship at $80,000. They might approve all of them at their max and your total exposure vs income becomes skewed. 

  • For me my Amex exposure is $88,000, which is 80% of my annual income, but that is across 6 cards (mixed between personal and biz)
  • No single Amex card is above 30% my income
  • This same process applies (to some degree) at all banks so if you 'max' out a bank, then you find another one and do it again, and again, and again
  • My total exposure across all banks is $486,000 -- which is 4.5x my annual income. Depending on the bank, some conservative ones will say "You have more than enough money out there - denied" while others will say "Solid profile, here's $20,000! This will get you started with US and it's well below 50% of your total income"

I wouldn't worry much about it as a driving factor. You only get to those options by earning them, banks are not dishing these out just because you asked. If they offered it, take it - you've been doing something right. If a limit makes you uncomfortable then reject, just remember you are in a lot more control with it than the banks are (if you're building up responsibly). 

 

Great question and hope this excessively long rant helped Smiley LOL

Message 10 of 32