Request increase on credit card = run your credit?

Question

If you request a credit increase on your credit card (regular or credit card for a store, etc.) does it run yours credit? I am buying a car soon and do not want my credit ran, which is why I am wondering.

Answer 1

Some credit card companies will just look at your history with them. However, more are starting to actually review credit reports before they grant an increase.

If they do a credit check it will appear on your credit report. But it should not count against your score because you already have an existing relationship with the company.

Answer 2

I am not really sure what you mean by 'run'. If you apply for and get a credit increase that will increase your credit score. WHY?

A major component of FICO score is the amount of available credit. You can increase it by paying things off or getting a credit increase.

In this situation the card company may not necessarily run your credit report.

If you apply for credit that's a different story.

Answer 3

As long as your credit is good, the credit company should have not problem increasing your credit limit. The important thing is to pay your bills on time, and if possible, in full.

This should not ruin your credit at all, if anything, the car company would probably like it.

Good Luck

Answer 4

Credit ratings are improved by paying on time, job and home stability. Credit line increases mean that you are a higher risk for borrowing a higher amount of money. I had a low interest card and after a year a rep called me to ask if I would increase my credit line. At first I said no. He pressed on saying it was a simple and of no consequence to me. I relented and said yes to the $1500 increase. I month later I got my bill and my interest rate went from 17% to 29%. I called customer service to ask why and they said it was because with the increase debt potential I also increased my debt risk thereby allowing them to increase my interest rate. I was fortunate enough to be able pay off my managable balance and cancel the card. Credit is somewhat necessary but always evil. Be careful.

Answer 5

Actually, and this might sound crazy, a credit increase is GOOD for your credit score. Your score is partially (35% of the score) based on your debt-to-credit ratio. If you increase your credit limit and keep the balance on the card low (especially 30% of the total credit limit or lower), your credit score will go up.

Answer 6

There is alway a disclaimer that you are giving them the right to check your credit, but I have yet to see any requests for credit line increases show as a hard inquiry on my credit reports.

Answer 7

im not sure but i dont think so. my credit card automatically raised my limit after paying my bill on time for 4 months and keeping a low balance. Running your credit doesnt really low it all that much and from what ive been told (i work for a dealership) they look at your score and to see what big objects are on your credit. ie. prior car purchases, mortgages etc. and they look for late payments, missed payments, etc. good luck

Answer 8

I'm curious as well, I was looking into increasing my credit limit on a card..

Answer 9

A higher credit limit will help your score. But credit checks slightly hurt your score. I'd go for the increase!

the book here http://www.amazon.com/gp/redirect.html?ie=UTF8&location=http%3A%2F%2Fwww.amazon.com%2Fexec%2Fobidos%2FASIN%2F1600200400&tag=thestateofart-20&linkCode=ur2&camp=1789&creative=9325 is a great resource for money issues, especially credit cards and banks.

Answer 10

You said 'run' your credit which means credit check / inquiry .
Yes , they run your credit for ALL credit changes .

If you do not want your credit 'ran' (checked) ,
Do Not apply for any more loans or credit cards .

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