I had a difficult time applying for a Platinum Cash back credit card from Amex a while back. (They rejected me!) It was for my home business expenses. So... I started using another card I've had for a while. My limit was 2700. After 3 months of charging near that amount, and paying it off each month, (I charge a lot for my business but always pay it off.) I noticed that my credit line was increased to 4900. So my question is, after sudden and consistent usage over the course of three months, is this common for credit card companies and does it hurt my fico to have a higher limit? My fico scores are in the upper 700 range currently, with the exception of TU, which reports lower 700s.
Low balance / high limit should be better for your credit score. Make sure that the creditor is reporting the proper credit limit....some creditors fail to do so, possibly so that your score will be lower and you'll be less likely to get offers from their competitors. I think you should be fine. From my perspective (mortgage consultant) anything above 720 middle score will take you anywhere you need to go, including no-doc.
