Requesting a credit limit increase on my credit card (Posted on 12/4/12 at 10:38 pm)
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.
re: Requesting a credit limit increase on my credit card (Posted on 12/5/12 at 10:05 am to urinetrouble)
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.