Up in credit limit affect credit score?

DJRogers88

Hi,

I have a credit card which is payed off each month by direct debit. I have received a letter this morning advising that my credit limit is going to be increased by around £800. I can choose to send this back and tell them I don't want this, and not be considered for any future rises. If I choose to ignore this and get the increased credit - will it affect my credit score in any way?

Thanks.

Hazzinho

Would't worry about it unless you have no control, increasing limits has never affected me in any way, i just leave it. It also drops your balance to limit ratio. The way i see it if you were given that limit originally you wouldn't ask to drop it. Being offered an increase is a good sign you're managing the account well, it can work out the other way when they reduce the limit when you are seen as a risk.

PhenoM

Always accept limit increases with open hands, if you can manage it responsibly.

Shows other lenders you're trustworthy and very good for your credit profile.

DJRogers88

Thanks very much for the advice, I'll leave it to increase then!

BugsyBrowne

PhenoM wrote: »

Always accept limit increases with open hands, if you can manage it responsibly.

Shows other lenders you're trustworthy and very good for your credit profile.

I am very responsible with money and when I had my Flybe card they were upping this every four months until it reached 3k where I thought enough is enough and decided to reject these limit increases as I know from experience to much available credit can really have a negative impact.
Lenders want payments on time with hardly any debt, the last thing they are looking for is wether or not you have rejected or accepted a credit limit increase.

ChristopherM87

I am trying to increase my credit limit online. However I have no idea what limit to ask for! My current limit is £3700, can i ask for £5000 or more? I have had this Natwest World card for 14 months and have always paid my balance in full every month.