Are we talking AmEx F/R's, or just general common sense here?
I know that I have read that some mortgage lenders will ask borrowers to close some accounts if they feel that there is too much unsecured credit floating around. The advised tactic seems to be to call a more flexible CCC, if there are any, and tell them that you need to temporarily close your card, and will they let you re-open it without lost history once the mortgage closes. (Don't know how often that has worked, lol.)
I have also read that some CCC's see no point in increasing CL on their card if they feel that you have so much unused credit on other cards that there's little or no chance of you doing serious charging on their own card.
And then finally, I've seen something about total credit not exceeding gross income. Are we talking individual income here, or HHI? If HHI, that would mean that a couple could each have their own total CL of the joint HHI, which would be weird. Is there anything to this guideline?
I love having my one high-CL card, because I know that I can clean out the appliance department at remodel time in one swell foop, as long as I remember to give USAA a heads-up this time. But with other cards, I think I would worry that suddenly using the allotted credit would freak out the CCC, resulting in a sudden CLD.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007