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Accepting higher credit limits actually improves your credit score over time, assuming you do not actually use the credit. In my opinion, you should accept the
by sunsu 11y ago
Accepting higher credit limits actually improves your credit score over time, assuming you do not actually use the credit. In my opinion, you should accept the credit limit increases when offered.
- anexprogrammer 11y agoBut what's the point? If, as the commenter asks, you're looking to cover yourself in the event of wanting a mortgage, perhaps car loan too, you only need good credit. I do know the UK doesn't use credit score as the US does, so it may operate on a different premise where gaming the score matters.
- smhinsey 11y agoBoth the ratio of your amount of available credit vs. used credit and the total amount of credit that you have available feed into your FICO score. From the lender's perspective, someone with a lot of unused credit is a better candidate than someone without. One of my cards recently announced a change that caused me to start looking around and its replacement had a substantially higher limit which unexpectedly gave a significant boost to my score.