Average Credit Limit
I have 2 credit cards. One with a limit of $3000 and another with the limit of $320. My credit report says my score is being hurt that my average credit limit of the two cards is less than $2000. Ever since the financial crash happened, I would say the average credit limit for a new card from a new issuer is $2k to $4.5k for those with good credit. Those with excellent credit probably have an average credit limit on new cards that is higher, if they already have high limit accounts. One with a limit of $3000 and another with the limit of $320. My credit report says my score is being hurt that my average credit limit of the two cards is less than $2000. The average is figured by adding the credit limits on both cards and dividing by the number of cards, which makes your average here $1660. You have two credit cards, right? The average is figured by adding the credit limits on both cards and dividing by the number of cards, which makes your average here $1660. One with a limit of $3000 and another with the limit of $320. My credit report says my score is being hurt that my average credit limit of the two cards is less than $2000. Does it make sense to just close the $320 limit card? Along with an above-average credit limit, consumers that are approved for this card will earn 5% cash back on up to $1500 spent in rotating categories and 1% cash back on all other purchases. In the first quarter, banks opened $77 billion in new credit card accounts, up from $71 billion in the first quarter of 2014, but the average credit limit was down about 11% from last year. Experian broke down the average credit limits on new credit accounts by VantageScore 3.0 risk tier. The credit limits on my cards range from $2,000 to $11,200. I would have to get out a calculator to find the average credit limit but I believe it would be around $5,000. The credit limits on my cards range from $2,000 to $11,200. I would have to get out a calculator to find the average credit limit but I believe it would be around $5,000. I do have excellent credit.
$2k to $4.5k 