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Question By
CuriousMSP

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Credit Card Company Offered Credit Increase...
My credit card company (AmEx) offered a credit increase without prompting from me. I am looking to purchase a home in the next three months. Is it a good idea to accept the offer from American Express? I am near the limit on that card but once I buy the house will be able to pay it down quickly again.

Also, have "Excellent" credit according to Credit Karma.

Thanks!

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Yes, an increased credit limit will lower your utilization and most likely increase your score. Just make sure you don't use it.

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What would damage your chances of purchasing a home would be if you applied for the credit increase and they did a hard pull, but because they offered it to you automatically, no inquiry will be on you report, and your utilization would be lowered. All positive things in this situation!

Reply by
EpicSpire

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i am no expert, but if you have a card, and they send you something saying that you can increase your credit line.. i would think it was something similar to being Pre-Approved for that credit increase, in which they would do a hard pull on your report, to see if you have other credit cards being over utilized. If anyone can verify that or disprove that, i'm open.. but that's my theory.

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