if i increase my credit card limit will it immediately increase my credit score or how long will it take?

Answer 1

It might....the utilization of your existing credit, which is the amount of your available credit line that you are using, is a BIG part of your FICO score....The less utilization the better....If this new credit limit pushes your utilization rate down to a certain benchmark level....you could see a FICO increase.

Note: if the card in question is a CapitalOne card...a credit line increase will have NO effect. CapitalOne only reports your highest balance ever as your official credit limit and never your real credit limit

Answer 2

credit limit increases do not increase scores, payment history, percentage of credit lines being under 50% do, so increasing limit unless it reduces debt %s isnt necessarily going to help. if your credit is good and limits are under 50% with an increase you should see a small increase in the next monthly reporting period. doubt if it will be more than 10 points though

Answer 3

I agree with Slimicks explanation.
I just wanted to add that if your utilization is low you would probably see the change in your scores as soon as the creditor reports the new limit.
And, from Slimicks comment about Cap One only reporting the high balance, Cap One recently quit reporting only high balances and has started reporting credit limits.

Answer 4

it may back fire on you your credit score has nothing to do with 1 credit car limit. with the exception of change how much credit amount people will give you

Answer 5

it will probably hurt your credit, because you might have too much credit available and it would show that you wouldnt be able to make enough money to pay it off thus hurting your score.. so dont do it.