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urinetrouble
LSU Fan
Member since Oct 2007
17385 posts

Requesting a credit limit increase on my credit card

Will this affect my credit score or anything else?

My current limit is $2200 and I have to make payments frequently to prevent myself from going over half the limit. I would like to request an increase to give me a little more breathing room.

I'd also like to start moving a little money from my emergency fund into my Roth IRA. Having a having a higher limit on my credit card would be helpful if I ever need to get a little bit from the Roth.


Siderophore
LSU Fan
Member since Nov 2010
3335 posts

re: Requesting a credit limit increase on my credit card
Depends on the company and a half dozen other factors.

Worst case scenario it will hurt your score, but not by much. ~5 pts.

And it will recover in a few months.


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JonTheTigerFan
LSU Fan
Central, LA
Member since Nov 2003
4945 posts

re: Requesting a credit limit increase on my credit card
If they do a hard credit pull, you will lose a few points for that. Inquiries affect your score for a year but show on your credit report for 2 years. Having a higher balance will lower your utilization % though if you keep any balances on your revolving debt. This will raise your score.


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