What should be an ideal CL for me?
- This topic has 1 reply, 2 voices, and was last updated 9 years, 6 months ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
-
Posts
-
I plan to ask for a CLI next month. What should be an ideal CL for me? My annual income is 70K.
CL should depend on how much you spend!
An adviser I used to work with taught me that an ideal CL should actually depend on how much you spend and NOT on your annual income.
To be specific: Total CL should be 10 – 15 times your total monthly spends.
This way, assuming that you always PIF every month, your total utilization never/rarely exceeds 10%, which is a good in respect to FICO credit score.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.