I was curious and saw this on google I feel way behind, average credit limit by age for 25 year old gen z... I only have one credit card since I was maybe 20 and it still has the same $500 limit on it..

I’m 25 now and have pretty good history.. I don’t have any other debt besides a car loan which is about 2.4k.. how and where do I start to increase my limit? I’m thinking about getting a new card to have a back up. How old are you and what’s your limit? Any advice is appreciated.

Other details if it matters. Annual income approx 43k and credit is around 760. I have 2 late +30 days and 1 late +60.. missed after Covid. None in past year.

Edit: After doing some research, decided to sign up for another card.. got instantly approved for Chase Freedom Flex, 4k limit. Thanks for all the replies guys

This is total amount for all open accounts, not just one credit card/loan.

So I've (26f) had a Visa credit card through my bank (well, credit union) since I was 19 and the limit had been at $1500 for years. The other day I was like hmm, I could probably request a credit limit increase? So I went online and the process was easy and I was pre-approved for $20,000, which I thought was a lot but I accepted. The next day they called and said that underwriting took a look and wanted to offer a limit of up to $48,500?! That seems like so much to me?! I said no and stuck with the $20,000 but I was wondering if that was normal and my previous little $1500 limit was the anomaly lol. For reference between me and my husband we gross ~$96,000 a year and both have credit scores between 750-800 ish. But to have a credit card limit with half your yearly salary? Seems excessive

Hi, I understand that credit limit depends heavily on country and even city, for example US is expected to have the highest limit. But I am curious what is your limit relative to the average income of your area?

Me first, please follow. I have credit limit of 25k US dollar across 3 cards at a city with $1k average income, my take home pay is about $30k, $1k monthly expense. Wonder if my credit limit is too high (but I think higher is better as long as I can maintain my spending and card security)

Hi all. 32M with an 815 score (per Credit Karma). I am slowly but surely paying off student loans that make up my longest credit lines. So I am seeing the average credit age get smaller and smaller as they get paid off. Current average (again, per Credit Karma) is 6 years and 9 months.

Only one federal loan left with an age of 11 years and 8 months - I have the funds to pay this off now but it's my longest credit line currently. My only credit card (Chase) is 7 years and 8 months, with a credit limit of $19,000. The only other 2 credit lines open are a private student loan (4 years and 9 months, was a consolidation loan that is pretty hefty so will take another 5 years or so to pay off) and my car loan (3 years old, have 2 years remaining if I don't decide to pay early).

My credit usage is typically 5-15% depending on how much I spend each month. I charge all transactions on my Chase card to get the Amazon points and then pay off the balance every month - I have never paid one cent of CC interest.

I have been considering opening another CC just so that I have multiple accounts still, after all my debt is paid. My main question is: what is more important, increasing my credit limit so that my % is lower, or trying to keep my average credit age as high as possible? Obviously opening a new line of credit now will cause the average age to plummet (as well as adding a temporary credit check).

Any thoughts? Willing to provide any further info needed. Thanks in advance!

Hi all! Like the title says, I have some questions about age of credit and how best to deal with that.

I am 24f and my partner is 26m. Both of us opened up Discover credit cards when we were in college (somewhere in the 2018-2020 range for both of us). I opened up another two credit cards eventually, one two years ago through Apple, and then another one last year that is a travel card. My partner has not opened any yet. He has a car loan and a bike loan, whereas I have none. We plan to have a mortgage next year.

The Discover card is nice, but I do feel as though it isn't working for us in a few different ways. My partner wants to go ahead and open up another card, but we are just feeling like idiots when it comes to our credit score. So here are a few questions we had:

1. Should we just leave our Discover cards open and not use them? Or should we try and put something small on them each month?

2. What would closing our Discover cards do to our credit score? Is that a really dumb choice to make?

3. Does adding him as an authorized user to my account help his score in any way?

4. Does his opening another credit card look good or bad for future lenders? We may have to look into getting the mortgage as soon as February of next year, so I don't want to do anything rash.

5. What is a good age for credit? Is there even any point to closing the Discover ever?

Thank you all for any help! Sorry if these are dumb questions, I just feel out of my element a bit, and we are trying to set ourselves up for success. When I opened the Discover, I did no research into what kind of card would work for me. We would like to really give it some thought, look at pros and cons, and the benefits to our life, and then open cards that support that, but only if it makes sense. It feels like we should be "using" the system more since we both are good about paying it off, but I just don't know how or if that even makes sense. Thank you!!!!!

I have a credit card from when I first started building credit around 3years or so ago. They kept a $1000 hold on my cash when I first started and the only way to get it back is closing out the card.

I haven’t used the card in awhile and have other cards through discover and chase that I use daily. I stay updated on everything with my greatest impact being age and different types of accounts according to credit karma.

The Bank teller was advising that I could close out the card and get a new one with a higher limit and it would affect my score much. But the closest credit age after that one 1.5 years.

Monthly Income

Income: $28/hr + $300/month
Education: In senior year of uni

Monthly Expenses

Rent: $700
Car: $430
Insurance: $312
Gas: $150
Tuition: $800
Other expenses: $100
Eating out: $200

I currently have two credit cards with a monthly limit of $2,500 each. They're the SchoolsFirst FCU Inspire card and the Discover It card. Thank you guys!

Curious to see some data points!