Re: Credit Line Increase always good for credit?
10-18-2013 01:40 PM
That makes sense, thanks for the response Robert! I see your point that it's not really in the CCC's interest to extend me credit if I'm not going to use it, but as you say, they assume that I will. I've had the 19k limit for a few years now and have never failed to pay my balances in full each month, so I don't think raising it any higher is going to change anything.
I guess my concern remains, though, that since I'm currently at <1% utilization, if I raise my credit limit further, I'm still going to end up at <1%, so my utilization is already sort of topped out and isn't going to change much. Meanwhile, I will have a hard inquiry on the report.
So perhaps it boils down to -- assuming ~0% utilization, is there still any credit score benefit to having a higher credit card limit, or am I just hurting my score by having newly issued credit (even if on an existing card) and having a hard inquiry?
Anyone have thoughts?