11-17-2009 07:30 AM
I am trying to increase my available credit so I don't look like a such a big risk to lenders since my credit amounts and history are small. I have a WF cc for 1500 and a CapitalOne with $500 limit. Does requesting for credit increases affect your credit score or what negative affects are there to doing so? The cards carry a minimal balance (<5%) but i do not use them often. Credit score is OK at 700. Any advice would be great!
11-17-2009 07:36 AM
1. They usually pull credit before making a CLI decision.
2. Cap One automatically gave my son his CLI's after a few months of having a card. I think it was 6 months for the first card, and 3 months on the second card. I don't remember. (He was excited that it happened without being requested!)
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO