Does inceasing the credit line on your credit card help or hurt your credit score?

I have a credit card with a $7,500 credit line and I have a balance on it in the amount of $1,000. Ive been offered a credit line increase up to $11,500. Will excepting this offer help or hurt my credit?

Thanks.

Does inceasing the credit line on your credit card help or hurt your credit score?

A credit line increase has been offered to you because you have been maintaining your account in a satisfactory manner by making on time payments and hence it will definitely improve your credit.

Does inceasing the credit line on your credit card help or hurt your credit score?

If you have just this one card--yes accepting the higher limit is fine, but....If you have, lets say 6 other cards with a total of $55,000.00 in available credit (low 0r no balances due on these six) Financial institutions see this as a serious problem. Too much possible debt. Report It

Does inceasing the credit line on your credit card help or hurt your credit score?

It will HELP your credit .

1/ Your debt percentage is now less than 10% .

2/ If you now apply for another card with different credit cards company, they will likely to offer you a credit line similar to your existing account , which is $11,500 .

Does inceasing the credit line on your credit card help or hurt your credit score?

It Helps!

I have some cards I never use. Just make my monthly service fee payments on time and I have an excellent debt to credit ratio.

When I do use a card for an Internet purchase, I always pay the balance within the grace period.

Anytime a credit card company increases your credit limit, that is a huge compliment to you as a user.

Does inceasing the credit line on your credit card help or hurt your credit score?

In my opinion getting a credit increase is not really a good thing. Yes it helps your ratio of outstanding balance to total available credit. But they look at your credit card balance and see that your not spending any money so to intice you to spend they give you a credit limit increase.

Does inceasing the credit line on your credit card help or hurt your credit score?

It does not.

Banks (and credit companies) are willing to borrow until a limit.

In the limit, ALL the 7500$ are counted, because in any time you may use it.