Is there any benefit in increasing limit? 14 August 2018 at 9:42PM in Credit Cards 3 replies 651 views

okigen

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%.

zx81

It helps to demonstrate that you are trusted.

jonesMUFCforever

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).

okigen

Fab thank you, I will accept it then.