Thursday, December 8, 2011

What kind of credit card limit can I expect with a credit score of 756?

it will be my first credit card. my credit rating is the way it is because my parent put my name on there credit card. i would like to get a credit limit of at least 2500. ive been a member of wells fargo for about 10 years and ahve never actually had my own credit card. what can i expect? thank you -blake|||You have a good credit score and it sounds like you are younger so having that good of a score if you are under 25 or 30 is really good. Your parents were smart to add you to their cards. With the credit score you have there is no worries with the credit line but a bank looks at several things when deciding how much credit to give you the two main things are your credit score and debt to income ratio. This means they are looking at how much you make vs how much credit they can give you and they are required by law to take into account how much unsecured credit you already have. Given the fact that you don't have any other unsecured debt I would think that you would qualify for 2500 as long as you make between $1500 to $2000 a month but that is just an estimate. Now that your credit is good I would suggest telling your parents to take you off their cards so that you can qualify for more yourself. Your score may go down a few points for a little bit because you are giving up long standing accounts but it should not go down enough to really make a difference. The history that you have already built with those accounts will still be there.

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