For some background, I'm a recent graduate doing mostly freelance work while teaching English on the side in France. My freelance work grosses me about $25,000/year, and my job in France is about $8,000/year (very part-time).
In total, I have the following credit available to me:
- $300 credit card with my bank
- $2,000 credit card with my bank
- $2,000 credit card with Amazon/Chase bank (special promotion)
- $3,000 credit card with Apple/Barclay bank (special promotion, used to buy work computer)
- $7,900 PLOC with my bank
In essence, my credit available is almost 50% of my gross annual income. I don't even come close to using even 10% of the credit at a given time, and always pay my balance off in full at least a week before the actual due date. In fact, I usually pay off the balance in full very soon after purchases are made in order to carry a $0 balance at all times. Needless to say, I'm responsible with my money and don't spend what I don't have.
But I fear that in the future, if I go to apply for loans for a car or house or whatever it may be, that lenders may see my available credit as a risk.
Do I have too much credit?