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Is there any benefit in increasing limit?
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Posts: 88 Forumite
in Credit cards
Hi guys, I have a noob question... So I got my first credit card about 3 months ago and have been using it steadily to build some history. Yesterday Amex sent me a letter offering to increase my credit limit. Is there any benefit in doing so if I don't need more money? Even with their current limit I can only spend about 20%.
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Comments
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It helps to demonstrate that you are trusted.0
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I agree, plus your % of used credit will reduce so it may make your credit report look a little better (don't be tempted to use it though unless you can repay).0
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Fab thank you, I will accept it then.0
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