Is there a rough correlation value between the minimum credit limit and the minimum income for credit cards?
E.g. if a cad has
-min credit limit $15,000 - does that imply min income should be ~$125,000
-or min credit limit $6,000 - min income ~$75,000
Any ideas on the rough correlation values?
Essentially, I’m trying to figure out if I get a credit card with a $15,000 minimum credit limit whether I would still be eligible to sign up for another credit card with $6,000 minimum credit limit for the bonus points.
A credit card usually has a minimum income requirement for sign-up. Some might even have low or none such requirement. You would have to consult this requirement to see if you are eligible. General consensus though is that the lower the minimum limit, the lower the required income. Thus the logic of being eligible for a card with lower credit limit than what you are currently eligible for is correct (most of the time).
However, I would look for the minimum income requirement instead of the guessing game you are playing right now.