Credit card limits to percentage of income

skybluesaver

Hi all, apologies if this question has been asked before.
What percentage of income is seen to be responsible to have as credit card limits. For example, if income was £30,000 per year gross, what would be seen as a reasonable credit limit on cards.
Thankyou.

MrUniveristy

In the region of 5-8k

Tixy

The level of debt on the cards compared to income would usually be a bigger indication of responsibility.

At £30k it would be quite easy to have say 3-4 cards with a £5k limit or more on each and wouldn't necessarily be considered irresponsible. Its how the cards are used that is more important.

planteria

at one stage i had a 20k income with £100k+CL.

bigadaj

My impression was half of salary as credit limits whilst limiting actual debt to half of limit but that's just my thoughts.

OP - is there a particular reason behind this question?

iAMaLONDONER

planteria wrote: »

at one stage i had a 20k income with £100k+CL.

I assume you were stoozing an awful lot!

[Deleted User]

iAMaLONDONER wrote: »

I assume you were stoozing an awful lot!

Why? :huh:

The figure given is a credit limit, not a target.
There is no indication there was any borrowing at all.

[Deleted User]

skybluesaver wrote: »

Hi all, apologies if this question has been asked before.
What percentage of income is seen to be responsible to have as credit card limits. For example, if income was £30,000 per year gross, what would be seen as a reasonable credit limit on cards.
Thankyou.

I don't think there is necessarily a link between the two.

e.g. I earn about £30k a year and on one credit card the limit is a meagre £500 and on another I have a limit >£20000

iAMaLONDONER

Starline wrote: »

Why? :huh:

The figure given is a credit limit, not a target.
There is no indication there was any borrowing at all.

I know that. However I doubt that anyone would apply for enough credit cards to have £100k+ available would be doing so just for fun!

Simon7685

iAMaLONDONER wrote: »

I know that. However I doubt that anyone would apply for enough credit cards to have £100k+ available would be doing so just for fun!

Slightly off topic and stretching the limits though it could be fun

Get 15 cards @ £10k each, with money transfers on, transfer all the cash over to a bank account. Go and buy a house for cash and then default on all the cards:D Six years later credit rating restored and a free house possibly furnished and paid for by the banks:rotfl:

PLEASE NOTE..........

:eek:THIS IS NOT A SERIOUS OR RECOMMENDED SUGGESTION MORE A JUST FOR FUN THOUGHT:eek:

It might funny if you could do it and get away with it though:rotfl:
Wonder if anyone has tried?:D

Sorry couldn't help it:o

CherlokHomes

THIS IS NOT A SERIOUS OR RECOMMENDED SUGGESTION MORE A JUST FOR FUN THOUGHT

Too late I've just done it getting the keys Tuesday.