Should credit limit increase offers be accepted?

Burnley_Lad

Would this help or hinder a credit score?

MorningcoffeeIV

It will hinder your credit score but improve your credit worthiness.

Accept it.

MalMonroe

Since nobody but you ever sees your credit score, that's immaterial. 

If you can trust yourself not to max out your card and can repay all the spending on it every month, then I'd say accept an increase. I have £7k available credit across three credit cards but I only ever use one card at any one time and always pay the balance off so I'm not paying any interest.

In the past I have been in extremely bad financial trouble but having now woken up to the fact that having a credit card balance hanging around is not a good thing. I'm on a low income but am now able to manage my cards well. I hate the idea of paying any interest at all, so always ensure I have enough to pay the card balance each month.

It will not harm you to accept an increase, as long as you are confident that you can manage the card's usage. I say that as someone who has had a DRO and survived. I learned a lot from it.

Just my own opinion, of course. 

Burnley_Lad

Thanks both for your comments