Increasing credit limit to improve credit score

icklesurfer

D3xt3r5L4b 

Wait what out?

The score increase. I’m assuming it’ll just come over time. (Again, I know it means nothing to lenders but it’s very motivating for me)

icklesurfer

Deleted_User said:

But wouldn't you prefer to be more credit worthy and be wealthier?

Is the score really more important than your money?

The score is not more important than my money. After an abysmal few years of burying my head in the sand I finally paid back my debt and now that my cash isn’t going to pay off bills I’ve never had so much in savings. 

But I don’t see how that makes me more credit worthy, because my credit score hasn’t improved. Again, I know it means nothing to anyone but me, but I find it motivating. 

[Deleted User]

icklesurfer said:

Deleted_User said:

But wouldn't you prefer to be more credit worthy and be wealthier?

Is the score really more important than your money?

The score is not more important than my money. After an abysmal few years of burying my head in the sand I finally paid back my debt and now that my cash isn’t going to pay off bills I’ve never had so much in savings. 

But I don’t see how that makes me more credit worthy, because my credit score hasn’t improved. Again, I know it means nothing to anyone but me, but I find it motivating. 

In that case, don't qait it out.  Do as I said and get another card or two. It will reduce your score further but make you much more credit worthy and therefore give you more money. 

You either need to impress the CRAs or the lenders.  You can't do both, particularly as you cannot impress all three CRAs at the same time,

Having a good score but a poor credit file is like choosing a fancy job title over a pay rise.

D3xt3r5L4b

icklesurfer said:

D3xt3r5L4b 

Wait what out?

The score increase. I’m assuming it’ll just come over time. (Again, I know it means nothing to lenders but it’s very motivating for me)

If you want a high score quickly then go bankrupt. You’ll get one instantly.
Seriously don’t get hooked on an inanimate number...

cymruchris

Capital one cards via the app have no ability to increase limits - the option to request a limit increase is in the browser version through your laptop or PC. Even then though, don't bank on getting an increase during the current pandemic. The best way to secure an increase is to use the card monthly for your regular spend, and then pay it off in full. If the card provider can see that you are using the card properly, you are likely to gain an increase in limit after some months of good financial behaviour. 

Grumpy_chap

Deleted_User said:

TransUnion want you to have 15k

Interestingly their free service also pops up to sell you a suitable card.  I am sure that conflict of interest never changes their advice.