mrhobbz Posted October 16, 2014 Report Share Posted October 16, 2014 Anyone have any thoughts on credit limit increases? In the last 8-12 months or so I've had limit increases on 4 of 6 of my cards. It's taken me from about ~24% utilization to about ~12% so I know long term it'll be good. I am thinking short term however, will it negatively impact my scores? I'm moving to Nevada relatively soon (1-2 months probably) and assuming my relocation reimbursement comes through quickly I'll have enough in the bank to put a down payment on a house out there. My concern is if the limit increases will negatively affect my scores or not (all 3 of which are in the high 700's) Quote Link to comment Share on other sites More sharing options...
MattKatz Posted October 16, 2014 Report Share Posted October 16, 2014 If youre in the high 700's and you are treating your credit like you obviously have to get to where you are....I wouldn't worry about the increases. IT doesn't get a whole lot higher than a low to mid 800 so you are doing damn good. Quote Link to comment Share on other sites More sharing options...
mrhobbz Posted October 16, 2014 Author Report Share Posted October 16, 2014 If youre in the high 700's and you are treating your credit like you obviously have to get to where you are....I wouldn't worry about the increases. IT doesn't get a whole lot higher than a low to mid 800 so you are doing damn good. That's pretty much what I'm thinking, I've just never seen increases this large before, they've usually all been in $500-$1000 increments, one of them was increased by $3,500. The other factor I think is going the be the two loans I've opened up within the last 2 years (auto and a motorcycle loan) I'm at 31% DTI wise including my current mortgage. Trying to avoid living in an apartment again if I can. Quote Link to comment Share on other sites More sharing options...
Sully Posted October 16, 2014 Report Share Posted October 16, 2014 CC limit increases are a great thing, as long as you don't go charging up a bunch of stuff just because you have the availability. Quote Link to comment Share on other sites More sharing options...
copperhead Posted October 16, 2014 Report Share Posted October 16, 2014 CC limit increases are a great thing, as long as you don't go charging up a bunch of stuff just because you have the availability. This exactly. Nothing to worry about Quote Link to comment Share on other sites More sharing options...
evan9381 Posted October 19, 2014 Report Share Posted October 19, 2014 Yep. My bank raised mine to 18,500 about 3-4 months ago, and just a couple days ago I looked and it was at 21k. I wouldnt worry about it. Quote Link to comment Share on other sites More sharing options...
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