Will asking for a credit increase with credit card affect credit score?

Answer 1

Yes, especially if you ask for the increase but don't use it, it has a positive impact, because the reporting companies, look at the amount of credit you have compared to the amount you owe to help get your credit score. The lower the ratio of debt compared to credit allowed, the better.

Answer 2

As far as a credit inquiry, yes, however, it depends on how many credit inquiries you have within a month. If you have 3 within a month, yes it will affect it. If not, it won't affect it THAT much. Asking for a credit increase will actually HELP your score, however, you cannot go over 50% of the credit limit. So, keep your balance low and your score can be high! :)

Answer 3

Yes. One of the factors used in determining your credit rating is how much of your credit limit you owe.

example:
if you had a credit limit of 5,000 and owed 2,500, you would owe 50% of your limit

if you had a credit limit of 10,000 and owed 2,500, you would owe 25% of your limit

the lower your percentage, the higher your credit rating

Answer 4

Yes

Answer 5

Not really, but a lender might look at how much credit you have available to you if you go for a loan.

Answer 6

Check this website. You will find very valuable and useful information on credit issues:
http://www.zelok.com/creditrepair...

Answer 7

If they do a credit inqury. Yes