*****
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One is deemed more creditworthy than the other. That is what determines your credit limit. |
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Becky V
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Are they with the same company? If yes, I would call and ask.
Otherwise someone does have some type of credit history that is just a bit better than the other - this also holds true for the amount of interest each card holder is offered. NOTE: the first time a payment is late that interest goes up and you may not even know it so watch that. |
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Plastic Utopian
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They will check your credit score and history. That includes loans, leases, anything you had to make a payment on. People with no credit history usually don't get as much credit. |
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zmortis
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Your credit limit is going to be based on your history with your credit issuer, and your credit rating. If one person has a longer good credit history and a higher credit rating because of successfull repayment of mortgages, car loans, utilities, and other debts they are going to be able to obtain a higher credit limit generally speaking. If a person has a caution (like filing bankrupcy) or spotty payment record on any of their finances, they are not going to qualify for as high a limit.
If you want to know what your credit rating score is, then contact one of the credit rating companies listed below.
I hope this helps. |
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The King
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Because that person has a better credit rating based on other lines of credit. |
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Kris L
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There are two factors you must also consider ... income and credit report numbers ... |
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suzanne g
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The credit limit depends on a number of factors, including whatever limit the credit card company was offering at the time, what limit a customer signed up for, the customer's credit rating, a customer's history with that company. A customer can also call the company and request that their limit be raised. |
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ogg08
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financial situation, other good debts that have been paid on time such as a car, owning a home, stability of occupation are all factors that influence credit card limit... |
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snickybugg
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Im going to tell you this, it all depends on HOW OFTEN you use it, how often you pay the bill (on time or not), and how MUCH you pay at once.
My fiance had a credit card when he was 18, and used it often but never paid a lot (to pay it off). I then got one when I was 21 (just last year) and my limit was $250.00 At the time my fiance's was $2500.00 and that took him 7 years to get. I use my credit card ALL THE TIME and I pay it off in LARGE amounts (think $400.00 PER MONTH). I was then told in November (07) My new credit limit was $1,000.00 a month. It only took 4 months to get a limit from $250.00 to $1000.00. I then spent a ton on Christmas and my fiance's birthday in Feb. Now, just 2 weeks ago I was told I could spent $3,000 a month. Obviously my limit is more than his just b.c. I spent more, and paid more off. I never had a late payment either.
Now, $3,000 is prob. going to get me in trouble b.c. I only make $850.00 a month. lol. Maybe I should go back to $250.00 a month! |
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♥ Embracing Optical Freedom ♥
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Because one person has better credit than the other. Another factor is age. Not everybody's credit situations are the same. |
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van kedileri
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based on bills paying (rent, utilities,etc) history, income, age |
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Beverly S
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Credit card limits are decided by credit, income, outstanding loan balances etc. So if your friend makes more money they can afford to pay a higher amount- thus they get a higher limit. Or they may have a longer work history. No two people are exactly the same. Just pay on time & don't charge more than 50% of limit & they will slowly increase your limit over time. Good luck! |
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Change I can't believe in
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Maybe one has a higher income? If they are from different banks that would also have a lot to do with it. |
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sparky
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Age, higher income, a lot of things factor in. |
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unggoy
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hi! about the credit limit. i have work with a credit card company for about 1yr and 2 months so this would be the basic factors of the credit limit of a person,
1.) like others mentioned, Your groos income would affect your credit limit, usually when someone applies for a card he needs a document proof about his monthly salary, usually pay checks or Income tax returns are the basis of this, the bigger your income the higher your limit.
2.) the type of plan your using. Credit card companies gives you option to choose how much you would like for your limit (applies to those opting to have lower credit limit or those that are VIP in terms of your income) Visa, MC or Amex would sometimes describe this as membership lvl, it is like the terms of deluxe, silver, gold platinum or VIP membership. of course the later part the higher the limit
3.)Credit standing.... Some companies search how many cards you usually have, it is to check if you are a good payer or the type that pays a credit loans by simply getting a new one to pay off the previous debt. SSS information are sometimes involved in this matters.
4.)Credit card Company. Different companies has different policies therefore different limts. |
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rnbmartinez
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Possibly because of other things in the persons name that shows up on the credit report. Could also be because of the difference in income, work history, and the length of employment at current job. Or are the credit cards even with the same company? |
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erikpilstrom
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Higher income is one possibility, the other is simply a different contract or provider. If you have the same creditcard provider, the only explaination would be that the other person either has a higher income, or that he/she has a different contract than the first person. |
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