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  • FIRST POST
    • euan90
    • By euan90 9th Jan 18, 9:43 AM
    • 2Posts
    • 2Thanks
    euan90
    Does increased credit affect my score?
    • #1
    • 9th Jan 18, 9:43 AM
    Does increased credit affect my score? 9th Jan 18 at 9:43 AM
    I didn't ask for a credit limit increase on my credit card, but they have offered me an increase from 1500 to 2500. I never put more than a couple hundred on my credit card and I pay it off in full every month without fail, so I don't need the credit increase. But I wondered if having a higher limit would have a positive or negative impact on my credit score, or none at all?
    Thanks!
Page 1
    • Gary_Dexter
    • By Gary_Dexter 9th Jan 18, 10:00 AM
    • 1,280 Posts
    • 730 Thanks
    Gary_Dexter
    • #2
    • 9th Jan 18, 10:00 AM
    • #2
    • 9th Jan 18, 10:00 AM
    None.

    Nothing impacts your credit score - as it doesn't exist
    • spadoosh
    • By spadoosh 9th Jan 18, 10:03 AM
    • 5,190 Posts
    • 6,994 Thanks
    spadoosh
    • #3
    • 9th Jan 18, 10:03 AM
    • #3
    • 9th Jan 18, 10:03 AM
    Credit scores can be misleading and probably not worth paying any attention to. Mine is quite high (900+) however the reality is if i applied for credit i would imagine most lenders would turn me down as i have a large amount of credit available to me already.

    Increasing your credit limit i imagine would make your score look better. Theyve done it because they trust you to repay which is seen as good. But like i said how it effects applying for credit and what might be available might have a negative impact if your already quite highly geared (lots of debt available to you in comparison to earnings).

    If you dont want an increased limit you can contact them and ask them to reduce it.
    Don't be angry!
    • forgotmyname
    • By forgotmyname 9th Jan 18, 10:06 AM
    • 27,187 Posts
    • 10,954 Thanks
    forgotmyname
    • #4
    • 9th Jan 18, 10:06 AM
    • #4
    • 9th Jan 18, 10:06 AM
    My "Score" went down after I bought something fairly expensive and paid in full when the statement arrived.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • zx81
    • By zx81 9th Jan 18, 10:08 AM
    • 17,214 Posts
    • 18,288 Thanks
    zx81
    • #5
    • 9th Jan 18, 10:08 AM
    • #5
    • 9th Jan 18, 10:08 AM
    I didn't ask for a credit limit increase on my credit card, but they have offered me an increase from 1500 to 2500.
    Originally posted by euan90
    You would still have a low limit even with the increase, so I would accept it.
    • euan90
    • By euan90 9th Jan 18, 10:16 AM
    • 2 Posts
    • 2 Thanks
    euan90
    • #6
    • 9th Jan 18, 10:16 AM
    • #6
    • 9th Jan 18, 10:16 AM
    @spadoosh - thanks. This is the only credit card I have - I only got it so I have a credit score when it comes to getting a mortgage. I don't need the higher limit and I won't use it. I don't plan on applying for anymore credit cards, so I guess what you're saying is I should accept it because it shows they trust me and I still won't have much debt available to me?
    • Gary_Dexter
    • By Gary_Dexter 9th Jan 18, 10:23 AM
    • 1,280 Posts
    • 730 Thanks
    Gary_Dexter
    • #7
    • 9th Jan 18, 10:23 AM
    • #7
    • 9th Jan 18, 10:23 AM
    @spadoosh - thanks. This is the only credit card I have - I only got it so I have a credit score when it comes to getting a mortgage. I don't need the higher limit and I won't use it. I don't plan on applying for anymore credit cards, so I guess what you're saying is I should accept it because it shows they trust me and I still won't have much debt available to me?
    Originally posted by euan90
    Your credit score is irrelevant to your mortgage application
    • Dandytf
    • By Dandytf 9th Jan 18, 11:17 AM
    • 1,269 Posts
    • 407 Thanks
    Dandytf
    • #8
    • 9th Jan 18, 11:17 AM
    • #8
    • 9th Jan 18, 11:17 AM
    A positive is your available credit rises and utilisation lowers
    I.e. higher limit-lower total cc credit allowance usage.
    sc dmp 2012 13k
    Jan 2018 8840 paid. 60% approx.
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