Credit isn’t income or free money. It’s debt — or, at the very least, potential debt. So consumers should consider all of the outcomes of a credit line increase.

It’s not always in your best interest to request a higher credit limit, or credit line increase, mostly because there are consequences merely beyond the credit card company saying “no.” A credit line increase request can trigger a hard inquiry on your credit report, which can have a negative impact on your credit score.

On the other hand, there are situations where it can be quite helpful to request an increase, such as when you need additional credit, have a solid credit score and have increased your personal income over time.


The Bottom Line

Be purposeful about asking for credit limit increases. You don’t just want to ask for credit limit increases any time. You should also avoid asking for credit limit increases too soon after getting a new card.

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