Poll of the Day > Should I take my bank's offer of a credit limit increase?

(+) Yeah! (+)

Bank offered to increased my credit limit by 50%.

I won't use anywhere near it. But will it benefit me to accept the offer?
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IIRC part of your credit score is based off your debt utilization ratio, so if you increased your line of credit without using the increase then it would benefit you

Definitely take it, and ask if they will conduct a hard or soft pull in your credit as part of it.

My bank ran a hard pull without telling me last time they increased my limit, so it's just good to know. The effects will drop off over time anyway.
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It's typically good to take it. The only time it's not is if the banks are gonna use that in calculations for things like mortgages.

Such as "You have 30k worth of credit limits, so we'll do the calculations based as if those cards are maxed out".

But those situations are few and far between and it's usually better for your score to take it.
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Yes, do it every time if offered.

AFAIK, one of the things that raises your credit is how much of it you use, as a %.

So if your spending habits dont magically change like an idiot you'll always be using a lower % of your total credit. Plus you might need the extra room for emergencies.

So say you have a 100 dollar limit. You have spend 50 dollars of that, so you're using 50%. looks bad.

Say your limit increases to 1,000 dollars yet you still owe 100 dollars. You are now using 10% of your available credit. Much better.

Take it but make sure you don't use it
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