How do credit card companies decide what your credit limit will be when they issue you a new card? Do they look at the other credit limits you have on other cards, or is it income related or both? Thanks
IT DEPENDS ON THE COMPANY... FARMERS VISA took the lowest credit limit and reduced it by 80% and made me a "TOY" card... "MOST" real companies WON'T go lower than what you now have..."IF" you have perfect history they may go higher than your lowest...MAYBE even higher than your next lowest...(they MAY even give you higher than your highest...WHO KNOWS) IT IS ALSO BASED ON F.I.C.O. (usually) AND INCOME...
