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Credit Line Question wrt Credit Score
Posted on 6/8/15 at 6:40 am
Posted on 6/8/15 at 6:40 am
My credit card company is offering to increase my credit line by $1,500. Does a higher credit limit hurt or help my credit score?
My current limit is more than enough.
My current limit is more than enough.
2
Posted on 6/8/15 at 7:43 am to elleshoo9
It lowers your utilization and that is a good thing.
Posted on 6/8/15 at 8:24 am to elleshoo9
Like VABuckeye said it is a good thing. As long as you continue to have this mindset about it
And don't start spending more just because you can.
quote:
My current limit is more than enough.
And don't start spending more just because you can.
Posted on 6/8/15 at 9:14 am to yellowhammer2098
Assuming spending habits do not change, it helps credit score and it helps get approved in the future if you show the maturity to get more credit and not abuse it (which should be baked into the credit score but is an easy moment to point out in your credit history).
Posted on 6/8/15 at 2:36 pm to lynxcat
Yea i'm not going to be spending any more than currently on this card. This increase will provide more cushion for emergency spending.
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