I did get a new CL increase...does that bump your score? I assume it does...somewhat since your balance owed is now a lesser percentage of the CL amount??
Will Help CS Yes, by your credit issuer raising your credit limit, this will in tern help your credit score. How much it helps depends on many factors, but it should help it. There are many speculations about how much your balance to credit ratio on revolving credit lines affects your credit score, but here is a good rule of thumb. Try to keep your average monthly balance throughout a year around 50% of your total credit line and do not use your credit card for cash advances. Michael http://mberry.dtsecrets.hop.clickbank.net
If you do take a cash advance (which I did), does it indicate on your CR that it was a cash advance? Or can you tell me why you advised not to do that - what is the consequence for doing that? (so I know what to expect)
Your credit reports do not show how the balance was created, whether by cash advance or by purchases. They do show a history of the monthly balances. Credit is not free money, but only a loan that must be paid back. Whether you should choose to charge a purchase, cash advance, balance transfer, or deposit a CC check in your checking account, depends on the terms for each type of transaction. Terms vary widely, and often month to month, depending on your changing credit picture, and the CC company's changing marketing or risk decisions. You have to read all the terms and the fine print on any offer.
Just want to say thanks for the replies. Basically, I had a very low bal. on this card anyway. So, to a lender this is going to be a good thing that I got a CL increase right? Just...nobody knows exactly how good??
