Will inquiries for a credit limit increase with existing credit card companies have a negative impact on your credit score?
in some cases your current CC creditor doesn't check your CR. In this case it wouldn't be counted as a inqueiry. Once you've been granted the increase that new credit limit will be posted, and depending on your current debt, the increase could make negitive impact. Some creditors also do check, so read the fine print, or ask.
credit increase My card is almost maxed, so I figured that increasing the limit would make it "less-maxed"... Is this a bad idea?
I've been told It depends on total amout of credit you may already have. If not much it may not affect you. But if you have other's and this is seriously increasing your overall debt then it would.
I know this isn't what you asked - but I don't know if many creditors will raise your limit if you're 'maxed out' already. I wanted a limit increase from Chase, and my balance was...ugh. The rep laughed at me and told me to call back when I pay it down, and he doesn't know of any bank that'll give a limit increase to someone who's balance is almost the limit. If ya get it done, I'm happy for ya
limit increase My limit with MBNA use to be 25K. After Katrina, I was passed due 30 days so MBNA closed my account. After I got back on track financially they re-opened my account, in which my balance was 6K and my new limit was set to 7.5K. I requested to have my old credit limit back but wasn't granted it because another creditor listed on my credit report that I was 120 days past due, when in fact, I had already taken care of it. So basically, MBNA told me to take care of that problem and then they could increase my limit. Would this be a wise thing to do? This is the majority of my debt, besides a balance of 4K with my car. Thanks
"Once you've been granted the increase that new credit limit will be posted, and depending on your current debt, the increase could make negitive impact." Not likely. Increased available credit with no increase in debt will probably raise your scores. FICO doesn't compare 2 successive credit reports, it only looks at what is on a single report, although an existing creditor that is already pulling your reports for "account review", could do that comparison themselves.
