‘The Points Guy’ has 30 credit cards and a credit score of 805. He let us in on his secrets

[wj2005]

Honestly too many smart marigolds on this thread because you don't like what I'm saying... And that's fine. But what I live is we went from income doesn't really play a factor to yes it does matter when you were wrong. Hey whatever you do is fine but my point again from my original post was what is the stated income to obtain such cl's. Nothing more nothing less.

 

Then you all start bashing me and being smart marigolds! What a joke really because you don't like what I have to say!

 

As for your cookies no hopefully they are something you dislike honestly.

 

And as for maxing out and pif that month I'm so happy for you that your assets CA. Cover your available credit. Still doesn't answer my original question but Ok. Lol

of course banks care about income when issuing credit. in fact they are required to determine a person's ability to repay when making decisions on open a new card and assigning a limit.

 

ability to repay is not just income.

But I thought income didn't really matter??? That's what you stated already??

[mendelssohn]

Honestly too many smart marigolds on this thread because you don't like what I'm saying... And that's fine. But what I live is we went from income doesn't really play a factor to yes it does matter when you were wrong. Hey whatever you do is fine but my point again from my original post was what is the stated income to obtain such cl's. Nothing more nothing less.

 

Then you all start bashing me and being smart marigolds! What a joke really because you don't like what I have to say!

 

As for your cookies no hopefully they are something you dislike honestly.

 

And as for maxing out and pif that month I'm so happy for you that your assets CA. Cover your available credit. Still doesn't answer my original question but Ok. Lol

Nobody is being a smartass or attacking you. YOU are being a smartass and posting things that aren't true.

[wj2005]

 

 

 

 

 

Well do you think it would be OK for someone to have let's say $25k income with $1 million in available cl on credit cards?

I'm not a bank so I cannot answer what so wines income should be BUT if someone's income was only 2.5% of there total cl in cc's then yes that is too low.

Another thing is what if the person also has a car payment... Rent or house payment etc.

Maybe this person lives at home and has no other bills other then cc's if they carry a balance.

You are completely missing my point of my original post and are now asking me what I think someone should make to have $1 million in credit.

So let's put it into perspective:

$1 million in cc's and you charge them all up. Based on the minimum payment average of 4%... That's only $40,000 a month! Yep, looks like you can cover that payment with your $25,000 salary since it's only $15,000 more for one monthly payment then you make all year!

 

Why does it matter?

 

Available credit is not debt or income. I'm not sure where you got that idea.

 

Also, limits up to $25K have very little to do with income or assets.

Also I didn't say available credit is debt or income BUT it is available to you and in my opinion the banks should be saying what if this person racks up a huge amount on there credit cards... Do the have the income to support that? That is what I am saying and I think it's pretty clear and makes perfect sense and again goes back to my original question which is what is the income being stated to get such limits?

I mean look at when you go to buy a car or a house... They look at dept to income but they don't do it with cc's. There is a huge problem with that imo regardless if you agree with me or not.

Even if cc companies aren't looking at dept to income, income should still be a factor as to what your limits should be imo. I know if I was a bank and someone already had $100,000 in available credit on cc's but only made $25k a year I wouldn't extend them more credit. It's still a risk the bank is taking but I guess banks don't really care either way about that and that's why interest rates are what they are to makeup for it. But then again it's a write off for them too

If you think a credit card company isn't looking at your other debt obligations when making credit decisions, why do they pull and monitor your credit report?

WOW!

Ok... Never said that. I am saying that cc companies are extending huge limits to people that possibly don't have the income to support it. That is what I said.

I know they look at your cr... smh

WOW RIGHT BACK.

Lol what a joke.

 

Yes I'm typing on my phone. Sorry I didn't spell every word exactly right because of autocorrect! You know what that is right?

[hegemony]

Honestly too many smart marigolds on this thread because you don't like what I'm saying... And that's fine. But what I live is we went from income doesn't really play a factor to yes it does matter when you were wrong. Hey whatever you do is fine but my point again from my original post was what is the stated income to obtain such cl's. Nothing more nothing less.

 

Then you all start bashing me and being smart marigolds! What a joke really because you don't like what I have to say!

 

As for your cookies no hopefully they are something you dislike honestly.

 

And as for maxing out and pif that month I'm so happy for you that your assets CA. Cover your available credit. Still doesn't answer my original question but Ok. Lol

of course banks care about income when issuing credit. in fact they are required to determine a person's ability to repay when making decisions on open a new card and assigning a limit.

 

ability to repay is not just income.

But I thought income didn't really matter??? That's what you stated already??

 

 

reasonable people are allowed to disagree. unfortunately you seem to think this means I "bashed" you. I never said income does not matter. my posts suggest income does not matter the way you think it does. good luck with your credit efforts.

[cv91915]

 

 

 

 

 

 

Well do you think it would be OK for someone to have let's say $25k income with $1 million in available cl on credit cards?

I'm not a bank so I cannot answer what so wines income should be BUT if someone's income was only 2.5% of there total cl in cc's then yes that is too low.

Another thing is what if the person also has a car payment... Rent or house payment etc.

Maybe this person lives at home and has no other bills other then cc's if they carry a balance.

You are completely missing my point of my original post and are now asking me what I think someone should make to have $1 million in credit.

So let's put it into perspective:

$1 million in cc's and you charge them all up. Based on the minimum payment average of 4%... That's only $40,000 a month! Yep, looks like you can cover that payment with your $25,000 salary since it's only $15,000 more for one monthly payment then you make all year!

Why does it matter?

 

Available credit is not debt or income. I'm not sure where you got that idea.

 

Also, limits up to $25K have very little to do with income or assets.

Also I didn't say available credit is debt or income BUT it is available to you and in my opinion the banks should be saying what if this person racks up a huge amount on there credit cards... Do the have the income to support that? That is what I am saying and I think it's pretty clear and makes perfect sense and again goes back to my original question which is what is the income being stated to get such limits?

I mean look at when you go to buy a car or a house... They look at dept to income but they don't do it with cc's. There is a huge problem with that imo regardless if you agree with me or not.

Even if cc companies aren't looking at dept to income, income should still be a factor as to what your limits should be imo. I know if I was a bank and someone already had $100,000 in available credit on cc's but only made $25k a year I wouldn't extend them more credit. It's still a risk the bank is taking but I guess banks don't really care either way about that and that's why interest rates are what they are to makeup for it. But then again it's a write off for them too

If you think a credit card company isn't looking at your other debt obligations when making credit decisions, why do they pull and monitor your credit report?

WOW!

Ok... Never said that. I am saying that cc companies are extending huge limits to people that possibly don't have the income to support it. That is what I said.

I know they look at your cr... smh

WOW RIGHT BACK.

Lol what a joke.

 

Yes I'm typing on my phone. Sorry I didn't spell every word exactly right because of autocorrect! You know what that is right?

 

 

You have a reading comprehension problem.

[wj2005]

 

Honestly too many smart marigolds on this thread because you don't like what I'm saying... And that's fine. But what I live is we went from income doesn't really play a factor to yes it does matter when you were wrong. Hey whatever you do is fine but my point again from my original post was what is the stated income to obtain such cl's. Nothing more nothing less.

Then you all start bashing me and being smart marigolds! What a joke really because you don't like what I have to say!

As for your cookies no hopefully they are something you dislike honestly.

And as for maxing out and pif that month I'm so happy for you that your assets CA. Cover your available credit. Still doesn't answer my original question but Ok. Lol

Nobody is being a smartass or attacking you. YOU are being a smartass and posting things that aren't true.

Actually no your wrong. I did state that income is a factor YOU said it wasn't then changed your tune on that.

 

And I asked a question about income to cl's... Didn't state anything I asked a question.

 

Again, bankrate says income is a factor but I'm posting incorrect info? Haha

[mendelssohn]

Wj2005, you've been a member of CB since 2005. I have no idea where, after 11 years here, you got all these ideas. It wasn't from CB.

[mendelssohn]

 

 

Honestly too many smart marigolds on this thread because you don't like what I'm saying... And that's fine. But what I live is we went from income doesn't really play a factor to yes it does matter when you were wrong. Hey whatever you do is fine but my point again from my original post was what is the stated income to obtain such cl's. Nothing more nothing less.

Then you all start bashing me and being smart marigolds! What a joke really because you don't like what I have to say!

As for your cookies no hopefully they are something you dislike honestly.

And as for maxing out and pif that month I'm so happy for you that your assets CA. Cover your available credit. Still doesn't answer my original question but Ok. Lol

Nobody is being a smartass or attacking you. YOU are being a smartass and posting things that aren't true.

Actually no your wrong. I did state that income is a factor YOU said it wasn't then changed your tune on that.

 

And I asked a question about income to cl's... Didn't state anything I asked a question.

 

Again, bankrate says income is a factor but I'm posting incorrect info? Haha

I never changed my tune.

 

I said income is not a factor for the most part up to $25K, which is true.

[wj2005]

I'm done wasting time in this since more then one person has come on to this and sated income means little to nothing when that is NOT true. Yes, it isn't the only thing that matters and I already know this BUT to say that then change it...

 

Again my original statement is left unanswered and oh well. I guess we would rather twist what I have said and bash me. And that's fine but I'm not going to waste my time when I have yet to get a answer to my question.

[wj2005]

 

 

 

Honestly too many smart marigolds on this thread because you don't like what I'm saying... And that's fine. But what I live is we went from income doesn't really play a factor to yes it does matter when you were wrong. Hey whatever you do is fine but my point again from my original post was what is the stated income to obtain such cl's. Nothing more nothing less.

Then you all start bashing me and being smart marigolds! What a joke really because you don't like what I have to say!

As for your cookies no hopefully they are something you dislike honestly.

And as for maxing out and pif that month I'm so happy for you that your assets CA. Cover your available credit. Still doesn't answer my original question but Ok. Lol

Nobody is being a smartass or attacking you. YOU are being a smartass and posting things that aren't true.

Actually no your wrong. I did state that income is a factor YOU said it wasn't then changed your tune on that.

And I asked a question about income to cl's... Didn't state anything I asked a question.

Again, bankrate says income is a factor but I'm posting incorrect info? Haha

I never changed my tune.

I said income is not a factor for the most part up to $25K, which is true.

Well I know that is NOT 100% true as amex has minimum income requirements... But ok

[hegemony]

My thing is so what if you have 30 cards or even 1 card with $20k limit.

 

My thing is what is someone income to obtain such cards or cl?

 

I don't see someone with $25k income getting 30 cc...

 

I'm not posting this in a negative manner... I'm just trying to get a better idea of what people's income is compared to tl/cl they are getting.

 

You could have a 850 credit score but only $25k income. This is why I feel there needs to be a range of income also on the credit pulls because that is going to be a factor in getting approved as well.

is this your original question?

 

I gave an idea of my individual income and my limits in earlier posts. does that not answer your question (at least with one data point)?

[mendelssohn]

I'm done wasting time in this since more then one person has come on to this and sated income means little to nothing when that is NOT true. Yes, it isn't the only thing that matters and I already know this BUT to say that then change it...

 

Again my original statement is left unanswered and oh well. I guess we would rather twist what I have said and bash me. And that's fine but I'm not going to waste my time when I have yet to get a answer to my question.

It is true though.

 

Please keep reading CB and learning from here. Wherever you have been reading, they are doing you a disservice.

[wj2005]

Like I said I'm done. My day is more valuable then have some online disagreement with really not getting much from it.

 

As for income, yes you did say your income us basically 10% of your available credit.

 

Also I stated bankrate was one but I guess that isn't a good source now either...

[hegemony]

Like I said I'm done. My day is more valuable then have some online disagreement with really not getting much from it.

 

As for income, yes you did say your income us basically 10% of your available credit.

 

Also I stated bankrate was one but I guess that isn't a good source now either...

I'm glad you question was properly answered. thank you, drive through and pay at the first window.

[mendelssohn]

Bankrate pimps credit cards. They own The Points Guy, Million Mile Secrets, etc.

 

They aren't a true credit card resource.

[hegemony]

Bankrate pimps credit cards. They own The Points Guy, Million Mile Secrets, etc.

 

They aren't a true credit card resource.

^This

[ldayton]