Whats a typical credit card max allowance?

Just curious as to what is the max amount of credit card debt someone can get from all credit cards with no other short or long term debt.

Is it roughly annual salary?

I am earning £32K per year and want to know what sort of stooze pot I can get before the credit card companies start refusing credit.
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  • andrewmpandrewmp Forumite
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    I have more available credit than my annual earnings. I guess it's pot luck though!
  • seatbeltnoobseatbeltnoob Forumite
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    andrewmp wrote: »
    I have more available credit than my annual earnings. I guess it's pot luck though!

    Do you have other liquid assets/property to your name?
  • edited 6 March 2018 at 12:21PM
    Richey_Richey_ Forumite
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    edited 6 March 2018 at 12:21PM
    Thats not how credit card lenders work, its not like applying for a mortgage.

    They look at your income, whether you are a home owner, your credit history - (your usage) and repayment history, your limits on other cards as well as any other information such as CIFAS, National hunter etc.

    You do not display what assets you have to apply for a credit card.
  • edited 6 March 2018 at 12:15PM
    seatbeltnoobseatbeltnoob Forumite
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    edited 6 March 2018 at 12:15PM
    Richey_ wrote: »
    That!!!8217;s not how credit card lenders work, it!!!8217;s not like applying for a mortgage.

    They look at your income, whether you are a home owner, your credit history - (your usage) and repayment history, your limits on other cards as well as any other information such as CIFAS, National hunter etc.

    You do not display what assets you have to apply for a credit card.

    Isn't that information, such as equity from mortgage, available to them when they do credit checks? Or can be ascertained from the credit entries on mortgage repayment?

    Edit: they also ask you on credit card application whether you rent/own/live with parents etc.
  • Richey_Richey_ Forumite
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    That forms part of their risk assessment whether you re a home owner, its likely they will see you as less of a risk of defaulting if you own a home as there could be greater consequences.

    They do not run a valuation of your house and compare it to your mortgage and see your equity, nor do they ask what liquid assets, savings or anything of value which you may have.

    Your income forms a part as does your credit history ie how you manage your account, credit utilisation, other credit limits, whether you pay off in full or the minimum etc.
    These all form part of their algorithm where they decide how much to lend you and if they will lend to you.
  • andrewmpandrewmp Forumite
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    Do you have other liquid assets/property to your name?

    Nah, nothing liquid. My available credit is split over several cards, highest two are about £10k-£11k
  • edited 8 March 2018 at 8:17AM
    Ben8282Ben8282
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    edited 8 March 2018 at 8:17AM
    andrewmp wrote: »
    I have more available credit than my annual earnings. I guess it's pot luck though!
    So do I. By the late 90's had available credit-card credit about 4 times annual income but have reduced it since then. But that was built up over a couple of decades. My credit limit on my first ever card was £200.
    The OP's question is unanswerable. There are so many factors to be taken into consideration. But assuming they have never had a credit card before they will be lucky to get 10% of their stated earnings.
    I am unsure what criteria are used to determine credit limits. It does not appear to be directly related to income but more with payment history, spend levels (spend is not necessarily related to income where employer reimbursed expenses go on a card), balances, amount of balances repaid and length of time plus of course cards being consolidated and limits combined. Once somebody gives you a nice big limit then the others appear to follow. Circumstantial evidence would also suggest that gender plays a part too with males getting higher limits than females.
  • andrewmpandrewmp Forumite
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    Ben8282 wrote: »
    So do I. By the late 90's had available credit-card credit about 4 times annual income but have reduced it since then. But that was built up over a couple of decades. My credit limit on my first ever card was £200.
    The OP's question is unanswerable. There are so many factors to be taken into consideration. But assuming they have never had a credit card before they will be lucky to get 10% of their stated earnings.
    I am unsure what criteria are used to determine credit limits. It does not appear to be directly related to income but more with payment history, spend levels (spend is not necessarily related to income where employer reimbursed expenses go on a card), balances, amount of balances repaid and length of time plus of course cards being consolidated and limits combined. Once somebody gives you a nice big limit then the others appear to follow. Circumstantial evidence would also suggest that gender plays a part too with males getting higher limits than females.

    Interesting, I had no idea how they worked it out. Mine have been built up over many years, I've had my highest limit car for about 22 years now - this it started off at about £500.
  • swindiffswindiff Forumite
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    When I did my stooze pot I applied for many cards at once. These were the limits I was given.
    £8,500.00
    £5,700.00
    £10,000.00
    £7,850.00
    £1,600.00
    £8,200.00
    £9,900.00
    £7,000.00
    £10,800.00
  • SuzieSueSuzieSue Forumite
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    swindiff wrote: »
    When I did my stooze pot I applied for many cards at once. These were the limits I was given.
    0

    So did I. I applied for half a dozen cards one morning about 3 years ago and got decent limits for all totalling about half of my annual salary. But I had been using credit cards for over 20 years and had a very good credit rating.

    I now have which credit card debt which is more than my annual income (all on 0%) but my credit rating is now very poor. So you shouldn't do this if you will need a mortgage in the near future.
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