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Valued Member
sdlt21
Posts: 30
Registered: ‎08-08-2007
0

Requesting higher credit limit

Hello all,
 
I have a question. I would like to request a higher credit limit so that my outstanding balance doesn't look as bad. However, if I request a higher credit limit, does my CC company put an inquiry on my report? That inquiry could drop my score and defeat the whole purpose. Any insight? Thanks.
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
0

Re: Requesting higher credit limit



sdlt21 wrote:
Hello all,
 
I have a question. I would like to request a higher credit limit so that my outstanding balance doesn't look as bad. However, if I request a higher credit limit, does my CC company put an inquiry on my report? That inquiry could drop my score and defeat the whole purpose. Any insight? Thanks.


Some do, some don't.  What card is it?
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Valued Member
sdlt21
Posts: 30
Registered: ‎08-08-2007
0

Re: Requesting higher credit limit

Thanks for the quick response! It's a WAMU card. I opened it because of the 0% APR on transfer balances so I could pay down debt. The current CL is 5800 and the balance on the card is 3000.
 
Also, on another subject, I opened a Circuit City card in April of this year to buy a laptop with 90 days same as cash. It's paid off. But since it's so new, It has a bit of an affect on my score. Would it help to close it?
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
0

Re: Requesting higher credit limit



sdlt21 wrote:
Thanks for the quick response! It's a WAMU card. I opened it because of the 0% APR on transfer balances so I could pay down debt. The current CL is 5800 and the balance on the card is 3000.
 


Someone else might be able to tell you about WAMU

sdlt21 wrote:
 
Also, on another subject, I opened a Circuit City card in April of this year to buy a laptop with 90 days same as cash. It's paid off. But since it's so new, It has a bit of an affect on my score. Would it help to close it?


Don't close it!  It keeps your util down low and will age nicely.  It will be less new after 6 months and good after 12 months.  Closing it will make no difference to average age or age of this account
 
If you close it it will still age nicely for 10 years, but will adversely affect your utilization %

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Valued Member
sdlt21
Posts: 30
Registered: ‎08-08-2007
0

Re: Requesting higher credit limit

Thank you for the insight!

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