capital one limit increase

Anonymous · ‎03-12-2012

I went from 300 to 1300. Now my question with the increase can this help my credit score as well? Thanks for youre time

Anonymous · ‎03-12-2012

It depends. The short answer is yes. Depending on how you received the CLI, you may get a hard inquiry which will lower your score. But the CLI will decrease your overall utilization substantially which will give you a significant boost.

SwiftTone · ‎03-12-2012

Yes. If your balance stays the same, it will lower your utilization which in turn increases credit score.

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tinuviel · ‎03-12-2012

@Anonymous wrote:
I went from 300 to 1300. Now my question with the increase can this help my credit score as well? Thanks for youre time

Whoa! That's a nice increase from Cap1! Congrats!

To answer your question, yes, it can. It all depends upon your utilization. You now have $1000 worth of additional credit, so you've got more wiggle room with your reported balances.

For instance, if you still had the $300 CL and you allowed $100 to report, you'd be at 33% util. But, with a $1300 CL, if you allow that same $100 to report you'd be at < 10% util. Since util is a major factor for your scores, the larger CL can be a good thing.

Once again, congrats.

(Edited for typo)

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LS2982 · ‎03-12-2012

@Anonymous wrote:
I went from 300 to 1300. Now my question with the increase can this help my credit score as well? Thanks for youre time

Very nice!!! Congrats!!!

This is definitely a time for a HAPPY DANCE!!! a 1K CLI from Cap1!?!?! Awesome!!!

EQ FICO 548 3/3/16

pastnow123 · ‎03-12-2012

supprize this is come from Cap one. It depends on your total CL. The higher CL you have, the less helpful it's on the overall utilizaiton, and thus the credit score.

daveg38 · ‎03-12-2012

My wallet will fall apart before they give me a bigger line...

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LS2982 · ‎03-12-2012

@daveg38 wrote:
My wallet will fall apart before they give me a bigger line...

EQ FICO 548 3/3/16

Anonymous · ‎03-12-2012

Thanks guys. I guess geting an increase from capital one doesn't happen alot. Right now my balance is 168 and I usually pay about 30 bucks a month on it

bbb3601 · ‎03-12-2012

my card will disenegrate before they ever give me an increase, but kudos to you!!!!!!!!1

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