Should I accept increase in my credit card limit?

molerat

To get a CCJ you would have defaulted for not paying then be taken to court and still not paid.

Fireflyaway

I recently spoke to a mortgage broker and she mentioned the 30% thing too. I believe using little of your availible balance is good, showing you don't relay on credit. In your situation I'd take the increase providing you don't use it.

twiglet98

This is an extract from Nationwide's "What affects your credit score?" (the Jones they refer to is James Jones, Head of Consumer Affairs at Experian). The news article is dated 27 July 2016 and the article titled Common Credit Score Misundertandings.

6. Keep regular credit card borrowing below 25%
You need to use credit to build up a good credit score, but lenders will want to check that you!!!8217;re not too reliant on it. If you're not planning to pay the full amount each month, aim to keep your regular borrowing across all of your credit cards below 25% of the total limit. This could give a more positive impact on your score.
According to Jones, the lower the percentage, the more points you!!!8217;re likely to add to your score.

Jlawson118

Increases are often good to boost your credit report. If lenders see that you have a high credit limit with another lender, then this suggests to them that you can be trusted in borrowing large amounts