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  1. #1
    Centurion Member Calipso's Avatar
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    Default Your credit limits vs. income.

    I searched the forums and didn't find much. I figured I would see if anyone wants to post on how much they have available vs. how much they make.

    My current limits are almost $90,000 combined against the $30,000 I make per year.

    It took years to get this. I have gotten almost $40,000 in the last year in credit limits, but that was due to building trust and such with good credit unions like Navy Federal. (They increased my Navcheck from $5,000 to $10,000. Approved me for $10,000 limit on their Platinum card. Increased my nRewards from $2,000 to $8,000.)

    Keeping your reports clean definitely helps.
    My Limits:
    NFCU NavCheck: $15,000/NFCU Platinum: $11,500/NFCU nRewards: $8,000
    Chase Freedom: $6,500/Chase Slate: $6,000/CSP: $5,000/Marriott Rewards Primier: $5,000/United MileagePlus Explorer: $5,000/Southwest Primier: $3,000
    Citi Hilton HHonors: $9,700/Citi Simplicity: $8,200/Citi Forward: $5,500
    AMEX Blue Cash Everyday: $8,000/SPG AMEX: $5,000/AMEX Everyday: $5,000/AMEX Delta Skymiles Platinum: $3,400
    Discover IT: $7,700
    Barclay's NFL Extra Points (Carolina Panthers): $5,000
    DCU Platinum: $3,000
    RTN FCU CC: $2,000
    CCCU Platinum Rewards Visa: $2,000

    Current total limit: $129,500
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  2. #2
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    Default

    I make in the $50K's and I have $32K not counting my PRG, which I've had to 6K before. I know my credit union will bump me another $10K if I ask them to. I'll probably do that this summer just for utilization. My girlfriend lives with me and I have her as an AU on my CSP and my PRG so we funnel everything through those and I use the Discover for the 5% categories. She gives me cash once a month for her expenses, so between the two of us we funnel quite a bit through them each month. We plan on taking a cruise this summer paying almost entirely with points! Sorry for the overshare of info. I tend to ramble a bit.
    Amex Platinum
    Amex BCP 15K
    Amex SPG 5K
    Barclaycard Arrival Plus WEMC 5K
    Chase Sapphire Preferred Visa Sig 23.5K
    Credit Union Visa Platinum 10K
    Discover IT 5.75K
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  3. #3
    Centurion Member Calipso's Avatar
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    Default

    Good first reply. Surprised you don't have an higher overall credit limit with your income. Any negatives on your reports?

    My goal is to get to $100,000k available credit before the end of 2013. I'm sure Amex and NFCU can get me over that hump.

    I've had several people who aren't credit savvy ask me why I need so much, it's hard to explain utilization to people. I explain utiliziation to them and tell them it's better to go after credit when you don't need it and during better times, then go searching for credit and lenders when you really need it.
    My Limits:
    NFCU NavCheck: $15,000/NFCU Platinum: $11,500/NFCU nRewards: $8,000
    Chase Freedom: $6,500/Chase Slate: $6,000/CSP: $5,000/Marriott Rewards Primier: $5,000/United MileagePlus Explorer: $5,000/Southwest Primier: $3,000
    Citi Hilton HHonors: $9,700/Citi Simplicity: $8,200/Citi Forward: $5,500
    AMEX Blue Cash Everyday: $8,000/SPG AMEX: $5,000/AMEX Everyday: $5,000/AMEX Delta Skymiles Platinum: $3,400
    Discover IT: $7,700
    Barclay's NFL Extra Points (Carolina Panthers): $5,000
    DCU Platinum: $3,000
    RTN FCU CC: $2,000
    CCCU Platinum Rewards Visa: $2,000

    Current total limit: $129,500
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    Default

    Mine's embarrassing. ~$80k with $800 credit line. I'm working on it though.
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  5. #5
    Centurion Member Calipso's Avatar
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    Default

    Quote Originally Posted by Fartanywherecard View Post
    Mine's embarrassing. ~$80k with $800 credit line. I'm working on it though.
    Don't sweat it. I had only $2,000 available credit from 2003-2006. Navy Federal was my only lender and I could only get secured cards during that time if I needed more.

    It's unbelievable what a clean credit report can do. Since 2010, life has been much easier due to elimination of negatives and paying my debts in full.
    My Limits:
    NFCU NavCheck: $15,000/NFCU Platinum: $11,500/NFCU nRewards: $8,000
    Chase Freedom: $6,500/Chase Slate: $6,000/CSP: $5,000/Marriott Rewards Primier: $5,000/United MileagePlus Explorer: $5,000/Southwest Primier: $3,000
    Citi Hilton HHonors: $9,700/Citi Simplicity: $8,200/Citi Forward: $5,500
    AMEX Blue Cash Everyday: $8,000/SPG AMEX: $5,000/AMEX Everyday: $5,000/AMEX Delta Skymiles Platinum: $3,400
    Discover IT: $7,700
    Barclay's NFL Extra Points (Carolina Panthers): $5,000
    DCU Platinum: $3,000
    RTN FCU CC: $2,000
    CCCU Platinum Rewards Visa: $2,000

    Current total limit: $129,500
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  6. #6
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    So if I'm not being rude, how bad was your credit before (03-06)? I have a couple very late payments on my file and a couple accounts closed by the lender. Just curious what kind of road I'm looking at.
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  7. #7
    Centurion Member Snowman's Avatar
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    Default

    My income is currently 12k (student) and my CL's total 3,700. So far I'm fine with my limits.
    Cards And Credit History
    Bank Of America: BankAmeriCard Cash Rewards (3% Gas, 2% Grocery, 1% everything else). 4/25/12-1,000$ (CLI Increase on 6/15/13)
    Citi: Forward (SM) Card (5x points on Restaurants, bookstores, music stores, video rental stores, movie theaters, 1 point for everything else.) 10/27/12-3,000$ (SP CLI 2/8/14)
    Discover: More. 10/27/12-1,500
    Amex: PRG.- 11/24/12 (Closed 12/13/13) Amex BCE.2k-12/7/13. Amex SPG-4k.-12/8/13
    Chase: Freedom-2,400-5/1/13. Southwest Rapid Rewards Plus- 3,600- 6/15/13.
    Future Cards
    Marriott Premier Rewards
    American Airlines AAdvantage Gold
    Chase Sapphire Preferred
    Fidelity Amex
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  8. Centurion Member
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    Quote Originally Posted by Calipso View Post
    Good first reply. Surprised you don't have an higher overall credit limit with your income. Any negatives on your reports?

    My goal is to get to $100,000k available credit before the end of 2013. I'm sure Amex and NFCU can get me over that hump.

    I've had several people who aren't credit savvy ask me why I need so much, it's hard to explain utilization to people. I explain utiliziation to them and tell them it's better to go after credit when you don't need it and during better times, then go searching for credit and lenders when you really need it.
    Up until about a year ago I only had my credit union credit card and used debit all the time. 5 of my current cards are less than a year old, so I'm somewhat new to the game. I'm done applying for cards for a while, unless I decide to get the BCP, but this year I plan to work on CLI's for the cards that I use/like. I'd like at least 10K on my Blue/BCP, I'd like 20K on my credit union card, and I'd like to get my Discover to about 10K. I'll be happy when I've accomplished this.
    Amex Platinum
    Amex BCP 15K
    Amex SPG 5K
    Barclaycard Arrival Plus WEMC 5K
    Chase Sapphire Preferred Visa Sig 23.5K
    Credit Union Visa Platinum 10K
    Discover IT 5.75K
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  9. #9
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    Default

    Quote Originally Posted by Calipso View Post
    I searched the forums and didn't find much. I figured I would see if anyone wants to post on how much they have available vs. how much they make.

    My current limits are almost $90,000 combined against the $30,000 I make per year.
    Although $90K in limits is impressive (and more impressive is three times income/limits), I've always wondered why you needed to bother collecting 21 products in the first place. Having said that, I cannot criticize paying your cards monthly. I carry balances now and wish I were in your situation. I'll get there over time but it will take time.

    As for me, I have $45K in limits (+$39K additional high water mark on my Amex Platinum) with a household income of $170K. I'm hoping to get a new card or two more in the next few months which hopefully will get me another $20K in order to pay down two of the existing cards of the three I carry. My strategy is to concentrate on the best products, not just sheer numbers and split between points and cash back strategies. I'm looking to add a Chase Sapphire Preferred and Discover IT soon. An Amex Blue Cash Preferred looks interesting for groceries cash back but certainly a lower priority (maybe next year). Everything else doesn't interest me.
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  10. #10
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    Quote Originally Posted by Calipso View Post
    I searched the forums and didn't find much. I figured I would see if anyone wants to post on how much they have available vs. how much they make.

    My current limits are almost $90,000 combined against the $30,000 I make per year.

    It took years to get this. I have gotten almost $40,000 in the last year in credit limits, but that was due to building trust and such with good credit unions like Navy Federal. (They increased my Navcheck from $5,000 to $10,000. Approved me for $10,000 limit on their Platinum card. Increased my nRewards from $2,000 to $8,000.)

    Keeping your reports clean definitely helps.
    This comes up a lot, e.g. CL to income question. Who's CL exceeds income - Page 2 - myFICO® Forums

    Recently I've seen ratios of CL/Income range from .1 to 5 or more. Of course, all this is self-reported.
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