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High Credit Limit or Long History

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AyaMai
New Contributor

High Credit Limit or Long History

Which is better to have a higher credit limit or longer credit history for a higher credit score as an authorized user, 0% utilization on all cards, Credit limit $76,150, late payment will drop in two months & collection in 16 months. AVERAGE AGE 1 yr 4 months OLDEST ACCOUNT 9 yrs 9 months

Message 1 of 4
3 REPLIES 3
dragontears
Senior Contributor

Re: High Credit Limit or Long History


@AyaMai wrote:

Which is better to have a higher credit limit or longer credit history for a higher credit score as an authorized user, 0% utilization on all cards, Credit limit $76,150, late payment will drop in two months & collection in 16 months. AVERAGE AGE 1 yr 4 months OLDEST ACCOUNT 9 yrs 9 months


If your utilization is already low the addition of more credit limit will not change your scores at all.

Message 2 of 4
SouthJamaica
Mega Contributor

Re: High Credit Limit or Long History


@AyaMai wrote:

Which is better to have a higher credit limit or longer credit history for a higher credit score as an authorized user, 0% utilization on all cards, Credit limit $76,150, late payment will drop in two months & collection in 16 months. AVERAGE AGE 1 yr 4 months OLDEST ACCOUNT 9 yrs 9 months


Long credit history is a plus.

Higher credit limits are of no import.


Total revolving limits 721200 (619200 reporting) FICO 8: EQ 725 TU 723 EX 700

Message 3 of 4
FireMedic1
Community Leader
Super Contributor

Re: High Credit Limit or Long History


@AyaMai wrote:

Which is better to have a higher credit limit or longer credit history for a higher credit score as an authorized user, 0% utilization on all cards, Credit limit $76,150, late payment will drop in two months & collection in 16 months. AVERAGE AGE 1 yr 4 months OLDEST ACCOUNT 9 yrs 9 months


Higher limits really help down the road for new apps. (Dpending on Lender) It shows you can handle more because you have a history of being responsible. But passing AAoA's beyond 2 yrs is just as good for more points. History and time for the long run. Its two fold.




Homeowner since Sept 2020. 2021 Explorer ST Chase 3.1%. Sharing my experiences after BK from learning here. Started 540's.
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