mspzcpmom Posted April 20, 2007 Report Share Posted April 20, 2007 My DH just got another credit limit increase from his USAA MC. They raised his limit to $19,500. He has a BOA line of credit for $6000 and a military STAR card for $8300. My concern is that if they keep raising his credit limits then he will be over-exposed when we go to buy a house next year.How much credit is too much? Link to comment Share on other sites More sharing options...
VonAngel (aka EarthAngel) Posted April 20, 2007 Report Share Posted April 20, 2007 Lenders look at your DTI ratio. If he has low utilization and a significant income, then I don't think the CLs would be a problem. Just make sure that the total CLs don't exceed his income. Link to comment Share on other sites More sharing options...
mspzcpmom Posted April 20, 2007 Author Report Share Posted April 20, 2007 Thanks. He makes over $125K so we should be fine. Link to comment Share on other sites More sharing options...
lyle7289 Posted April 24, 2007 Report Share Posted April 24, 2007 Lenders look at your DTI ratio. If he has low utilization and a significant income, then I don't think the CLs would be a problem. Just make sure that the total CLs don't exceed his income.Earth,Why don't you want your total CL's to exceed your income? I thought that as long as your utilization was low and your DTI was low you were fine? Link to comment Share on other sites More sharing options...
VonAngel (aka EarthAngel) Posted April 24, 2007 Report Share Posted April 24, 2007 Earth,Why don't you want your total CL's to exceed your income? I thought that as long as your utilization was low and your DTI was low you were fine? There's also a 'concern' called "too much credit". When a person has that much credit, there's always a possibility of them maxing it out, which may be a concern for some lenders. If a person chooses to obtain high CLs, they need to be sure that they can afford to pay them off [if they are maxed out]. Some lenders don't care, but some of them do. So, you would need to take precautions. Link to comment Share on other sites More sharing options...
credit_junkie87 Posted April 24, 2007 Report Share Posted April 24, 2007 What is the ideal CL/Income ratio?Assuming I earn $100k (I don't yet ), what would be an ideal total CL to have?I spend around $1200 per month on my CCs and PIF.My current total CL is around 14k (3 cards). Link to comment Share on other sites More sharing options...
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