2007-08-07 19:41:14 · 2 answers · asked by aditya 1 in Business & Finance ➔ Personal Finance
yes and no -- if you have a high line but no outstanding loans great ---no if you have a high line and it is max out bad
2007-08-11 09:11:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No and yes. Having a high line of credit is good for your credit score because one of the factors is the amount of debt you have as a percentage to available credit. A high limit credit card should keep this ratio low.
It is potentially bad for two reasons. Total amount of outstanding credit, if too high, can negatively affect your credit score. Having a high credit limit might tempt you into spending more. If you can keep a low or zero balance on the line of credit, then it doesn't really hurt to have a high credit limit.
Hope that helped!
2007-08-08 04:28:28 · answer #2 · answered by Rush is a band 7 · 0⤊ 0⤋