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limit increase advice

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creditchild
Regular Contributor

limit increase advice

hi,evryone quick question, i have a cap one cc with a limit of 500, i've had the card

since 1/2010. i was thinking about asking or a increase. i've paid on time every since i had it. so my history is good. my fico (EQ) is 633 and my (TU) fico is 638, would getting that increase help of hurt my score?

Message 1 of 5
4 REPLIES 4
haulingthescoreup
Moderator Emerita

Re: limit increase advice

 


@creditchild wrote:

hi,evryone quick question, i have a cap one cc with a limit of 500, i've had the card

since 1/2010. i was thinking about asking or a increase. i've paid on time every since i had it. so my history is good. my fico (EQ) is 633 and my (TU) fico is 638, would getting that increase help of hurt my score?


 

The only effect would be if you allow balances to report on your CC's.

 

If you do, increasing your total CL could help your util, if it dropped enough. (Emphasis upon "could." It has to drop enough to trigger a change.)

 

And of course, if you allow a balance to report on this card, it would help the util on this card.

 

The Credit Cards forum is chock full of threads about this, and especially about how hard it is to get a CLI from Cap One. Smiley Tongue

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 5
Anonymous
Not applicable

Re: limit increase advice

Make sure they'd only "soft" for the CLI or the INQ could hurt.
Message 3 of 5
haulingthescoreup
Moderator Emerita

Re: limit increase advice

 


@Anonymous wrote:
Make sure they'd only "soft" for the CLI or the INQ could hurt.

 

Good point, especially because when Cap One pulls your credit, they pull all three reports. (ouch)

 

I think that Cap One softs for CLI requests, but again, this info is on the CC board.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 5
Anonymous
Not applicable

Re: limit increase advice


@creditchild wrote:

hi,evryone quick question, i have a cap one cc with a limit of 500, i've had the card

since 1/2010. i was thinking about asking or a increase. i've paid on time every since i had it. so my history is good. my fico (EQ) is 633 and my (TU) fico is 638, would getting that increase help of hurt my score?


What balance do you have reporting on this card?

And do you have any other cards - if so, what are their cl's and balances?

Message 5 of 5
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