Increasing Credit Limit

[Anonymous]

My current FICO score is 753 (EQ) and I recently requested an increase of $4500 on my discover card and got it.  This represents a jump of around 20% in the total credit limit for all credit cards combined.  How much will this affect my FICO score??

Thanks 

[Junejer]

Can't even guess with that limited information. What is overall CL (in dollars) and overall util? For that matter, individual utils too.

[cobaltnv]

zparadox,

   The scoring model looks at utilization (both overall and individual) not credit limits. If you list each or your credit cards with their limit and balance someone will likely be able to help guess your change in score with the CLI you received. Ideally both your individual and overall utilization is less than 9% and not more than half your accounts report a balance.

Cheers 

[nothingman02]

If your UTL before was not 0, you should see some boost. Assuming your UTL was not optimum. As mentioned, need more info for a better estimate.

[Anonymous]

Sorry for the lack of info.

Here is my credit info:

BoA:   CL - $4500, Balance - $0

Amex: CL - $4000, Balance - $0

Cap1:  CL - $500,   Balance - $0

Citi:     CL - $4500, Balance - $0 (Used to have a small balance as reflected on 753 score)

Discv:  CL - $5750, Balance - $~100

Hope this is helpful.

[cobaltnv]

zparadox,

   Your overall utilization is below 1% and your discover card util went from ~8% to ~2% (assuming the balances have not changed). Therefore I would expect no change in your fico with your increased CL. You may see a small increase (less than 5pts) with only one card reporting a balance.

Looking at your cards it like you are in the credit gardening phase. Time to sit back and let father time do his thing to increase  you scores.  

[Junejer]

+1

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cobaltnv wrote:

zparadox,

   Your overall utilization is below 1% and your discover card util went from ~8% to ~2% (assuming the balances have not changed). Therefore I would expect no change in your fico with your increased CL. You may see a small increase (less than 5pts) with only one card reporting a balance.

Looking at your cards it like you are in the credit gardening phase. Time to sit back and let father time do his thing to increase  you scores.  

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