Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
whynotme3

0 Contributions
0 People Helped
what are the pros and cons of increasing credit card limit?
I received an offer to increase the credit limit on one of my credit cards. It looks appealing but I'm not sure how it would impact my score

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Credit Karma Team
Top Contributor
2949 Contributions
4620 People Helped

Hi there,

You might find this article we've written to be helpful: https://www.creditkarma.com/article/relationship_score_and_credit_limits

Top Contributor
5038 Contributions
1134 People Helped

As long as you can trust yourself with the higher line then you should jump on it, it will be good for your scores. The only cons I could think of is if they do a hard inquiry for the increase, that would be a slight score ding, but worth it as a higher line will help your utilization. The other con is if you are on a limited income and are thinking of applying for credit for something else, the higher limit on the card would affect your debt to income ratio and could get you denied for credit from another lender if they were afraid that your income could not support your amount of credit.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.