Credit limit increase

Rogfed

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

bengal-stripe

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

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.