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Credit limit increase

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Rogfed
Rogfed Posts: 8 Forumite
edited 27 May 2017 at 6:01PM in Credit cards
I have recieve a letter from Nationwide saying I can have a credit limit increase from £4k to £5k, it is one of my highest CC limit

Does the increase improve your credit rating or make it worse??? (I know the score mean nothing)

Also the fact that I did not request it, will i get hard search on my credit report if I accept the increase?

Thanks

Comments

  • bengal-stripe
    bengal-stripe Posts: 3,354 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Rogfed wrote: »
    Does the increase improve your credit rating or make it worse???

    Won't make much of a difference as the limit is neither absurdly low nor astronomically high.
    Rogfed wrote: »
    Also the fact that I did not request it, will i get hard search on my credit report if I accept the increase?

    Not likely, the bank will have decided by your account history and through monthly feeds from the agencies that you are a good candidate. Credit increases are usually time limited and reflect the current position of your account. (In six months time, things might be different.)
  • 20aday
    20aday Posts: 2,610 Forumite
    Ninth Anniversary 1,000 Posts Combo Breaker PPI Party Pooper
    I've had a credit limit increase from Lloyds Bank today funnily enough.

    I had one last November and they didn't perform a hard search back then on me either.

    I'm not sure what the process is with Nationwide but it is possible to opt out of future credit limit increases if you wish.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
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