Credit limits aren't the enemy your friend told you about

My buddy Dave warned me at Home Depot last year not to request a higher limit on my card because it would wreck my score. He was dead wrong... I asked Capital One for a bump from $3,000 to $7,500 and my score actually went up 12 points after they approved it. The key is asking for a limit increase on an account you already pay off every month, not opening something new. Has anyone else gotten bad credit advice from someone who seemed sure of themselves?

3 comments

3 Comments

kevinallen18d ago

Agree with @colegarcia... some lenders definitely still do hard pulls for CLI requests.

the_rose18d ago

Must be nice to get points just for asking - I usually get rejected by my toaster.

colegarcia18d ago

Dave was actually half right though. Asking for too much too fast or doing it too often can definitely drop your score, especially if they do a hard pull. You just got lucky with Capital One, but not every bank is that chill about it.