What is the minimum credit limit on my card that will significantly help my credit score?

Hoppimike

Sounds weird I know. I just... don't really want to be increasing it forever so I'd really like to know what the lowest number is where it will be "enough"? Obviously my utilisation will always be low

Thanks much!

[Deleted User]

Accept any limit you are given and allow it to grow over time.  There's rarely any need to lower limits.

Your credit score isn't a real thing so don't worry about how it reacts to anything. Lenders are simply looking for you to demonstrate you can manage your credit.

Blackbeard_of_Perranporth

Take any limit on your card and use it wisely.

As for this credit score, I will go down to Mabel at No:54 and she will read the tea leafs for you, all I need is your inside leg measure to get it more accurate!

sourcrates

Please do some research on credit scores.
If you go to the "credit file and ratings" board, look at the sticky thread at the top entitled "what your credit score really means".

That will tell you all you need to know, and save you a lot of time and trouble.

born_again

If you do not want it to go up, then contact card provider and tell them.

Hoppimike

I... think I'm starting to understand now

And I can't really see any major disadvantage to allowing my limit to increase with time.

I just wish there was some way to ask for an increase without risking being declined and having that negatively impact my score, lol

Does anyone know the best way to get around that problem or mitigate it?

Thanks much, and thanks for all the great responses so far too!

Fingerbobs

Hoppimike said:

I... think I'm starting to understand now

And I can't really see any major disadvantage to allowing my limit to increase with time.

I just wish there was some way to ask for an increase without risking being declined and having that negatively impact my score, lol

Does anyone know the best way to get around that problem or mitigate it?

Thanks much, and thanks for all the great responses so far too!

I don't think requests for credit limit increases on existing cards are recorded on your credit files.

The credit file will be updated to reflect the new limit if it changes, but there will be no record of a request, declined or otherwise.

Hoppimike

Fingerbobs said:

Hoppimike said:

I... think I'm starting to understand now

And I can't really see any major disadvantage to allowing my limit to increase with time.

I just wish there was some way to ask for an increase without risking being declined and having that negatively impact my score, lol

Does anyone know the best way to get around that problem or mitigate it?

Thanks much, and thanks for all the great responses so far too!

I don't think requests for credit limit increases on existing cards are recorded on your credit files.

The credit file will be updated to reflect the new limit if it changes, but there will be no record of a request, declined or otherwise.

Ah wow really? I thought that it resulted in a hard check or something? I'm still learning about this!

I actually also ran these questions past my credit card provider as well (without actually asking for the increase just yet) so I guess I'll see what they say too.

[Deleted User]

Hoppimike said:

I... think I'm starting to understand now

And I can't really see any major disadvantage to allowing my limit to increase with time.

I just wish there was some way to ask for an increase without risking being declined and having that negatively impact my score, lol

Does anyone know the best way to get around that problem or mitigate it?

Thanks much, and thanks for all the great responses so far too!

Please read the post by Sourcrates. You do not have a credit "score" to be negatively impacted. We are not America, the score generated is a novelty only - it means literally nothing, no lender ever sees it, that score is never, ever, ever, EVER used to make a decision on your credit. All that matters is credit history

born_again

Hoppimike said:

Ah wow really? I thought that it resulted in a hard check or something? I'm still learning about this!

I actually also ran these questions past my credit card provider as well (without actually asking for the increase just yet) so I guess I'll see what they say too.

Any increase is based on card providers internal scoring. As such no interaction with your credit file is required.

Best advice, forget about your "Credit Score" and make sure that you pay on time. It is your "Credit History" that lenders are interested in.
Only other thing that can affect getting further credit is having to much available credit compared to you income. As it's all based on affordability.

Alex9384

Barlcaycard, Halifax and Nationwide certainly don't do any hard check when you increase your limit. I've done it with all three and they didn't do any checks. You don't need to ask anyone, just log in and find 'Amend credit limit'.