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 Scores
Profile Image

Question By
Desertcop

2 Contributions
6 People Helped
Will an increase on my credit card increase or decrease my credit score?
I received the credit card through Credit Karma website to help better my credit score. I have made the required payments each month and the required monthly amount. There even have been occasions where I have paid more than the required monthly amount.

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
269 Contributions
114 People Helped

I'm not sure if by "increase on my credit card" you mean an increase in the amount you charge, or an increase in your credit limit. 
If you increase the amount that is reported (increase your utilization), your score will go down. If you increase the credit limit (not likely if you are only making the minimum payment most of the time), your score will go up. 

Don't make paying more than the minimum amount a special occasion. Make it the norm. The credit card companies report your balance to the bureaus a few days after your due date, and on that day you want to be using less than 30% of your total limit. Less than 10% is best. Use the card heavily right up to your due date though, because if you show you use it AND pay it down substantially, that's how you get a credit limit increase.

Reply by
Desertcop

2 Contributions
6 People Helped

Sorry for the confusion. Im still new at learning to use the proper terms in trying to refer to my credit score. I was referring to the increase of my credit limit. The credit card company is only asking for a monthly payment of $25. But I have been paying more on the monthly payment to prove my credit worthiness. Also to reduce the amount of interest which is being charged on the amount which I still owe on. I will be getting a credit increase on my card, just as soon as I make this months payment. 

1 Contribution
0 People Helped

Your score will increase!

Top Contributor
7344 Contributions
3805 People Helped

Helpful to 0 out of 1 people

Please do yourself a big favor and read the articles on this site so you can learn how credit works and how to build a good credit score.  I learned a lot and how have an excellent credit score, and am on a fixed income   

Results 1-3 of 3Results 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.