Improving my credit score

[jonjohn]

Hey All.. It's been a while.....

I have a question... I got my credit score up to 711 which I am REALLY happy with...I started at 620ish....

I purchased my home last year and have used my credit cards pretty heavily... I am at 47% usage of my available credit...

I am not in financial stress or anything, but I want to rasie that limit.

I know paying them down is important which I pay way more than the minimum each month...

My question is this..... If I ask for a credit limit increase to lower that percentage of usage will that hurt me or help me? Also, if I request to have my interest rate lowered on 2 or my cards due to a much higher score, will that hurt me as well?

Thanks in advance...

[CreditDunce]

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@jonjohn wrote:

Hey All.. It's been a while.....

I have a question... I got my credit score up to 711 which I am REALLY happy with...I started at 620ish....

I purchased my home last year and have used my credit cards pretty heavily... I am at 47% usage of my available credit...

I am not in financial stress or anything, but I want to rasie that limit.

I know paying them down is important which I pay way more than the minimum each month...

My question is this..... If I ask for a credit limit increase to lower that percentage of usage will that hurt me or help me? Also, if I request to have my interest rate lowered on 2 or my cards due to a much higher score, will that hurt me as well?

Thanks in advance...

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Neither will hurt.  The CLI increase may increase your credit score by lowering your utilization.  The lower APR will not have a direct effect apart from potentially lowering your interest payments which might reduce your utilization.  However, if you are not in financial stress, you really should be paying your CC's in full each month.  You have much more leverage for CLI's and APR reductions when you are PIF.