Mega Contributor
RobertEG
Posts: 18,519
Registered: ‎03-19-2007
Re: Credit Line Increase always good for credit?

It's a good idea if you have restraint.

 

Creditrs dont grant credit limit increases out of motivation to help consumer credit scores.  They grant because statistics show that most consumers will continue their prior patttenr of use of available credit (i.e., % util) after obtaining a CLI.  Hard to break old habits.

Thus, they get more interest, on the average.

 

If you use the existing CLI but maintain the $ amount of charging, as opposed to the % util of CL, you will get a score boost.

The creditors are betting that you dont have that willpower........