Does increasing your credit limit help your FICO/credit score or hurt it? ?

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I have read that increasing your credit limit can help improve your credit score because you have a better debt to available credit ratio. But then I also read that it can hurt your score as it just told me today when I got my credit report online. There was a list of things that could hurt my credit score and one of them was having to high credit limits. I thought that even if you have a high credit limit that it’s not a problem as long as you’re don’t have high debt. I am very confused about this and hopefull someone can clarify, should I be asking my credit card companies to raise my limits or lower them to help my credit score?

5 Comments
  1. Reply
    Jennifer M
    June 26, 2011 at 12:00 pm

    Having high amounts of available credit can lower your score as it can show that you have a chance of spending more that you earn. The best way to build your credit and get a great score is to keep a long term history with your current cards and try not to hold a balance that is close to your credit limit.

  2. Reply
    mister ed
    June 26, 2011 at 12:45 pm

    depends on you income a high limit does not hurt as long as you have a proven record of income to pay it off should your go out and charge a lot!!

  3. Reply
    J squezzy
    June 26, 2011 at 1:33 pm

    you can have a high line of credit on any of your credit cards, just try to keep the amount of credit card accounts to a minimum, because that becomes a risk for other credit card companies. Also as long as your balance is less than half of your credit limit than it wont hurt your credit.

  4. Reply
    stephenweinstein
    June 26, 2011 at 2:29 pm

    Too high a credit limit hurts. Too low a credit limit hurts. If you are being hurt by your debt to available credit ratio, request a higher limit. If you are being hurt by your available credit being too high, request a lower limit.

  5. Reply
    ToLu
    December 15, 2012 at 10:45 am

    You wanna talk about big brother soiailcst communist nazi crap? Credit reporting is nothing but to keep you in the herd and have the feds watch every move you make. Maintain your credit score people so everyone know where you are, what you did last summer. Stupid cows .

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