Credit score question

Old 07-10-2008, 11:42 AM
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Default Credit score question

This question was posed to me this afternoon, I don't the answer 100%, thought someone else might...

If you had a revolving credit card, with lets say a 5000K balance and your limit is 8000K.... You are over 50% thus having a negative impact on your score. If you were to simply have your limit upped to say 12-14K, you would no longer be over 50%, so would this cause one's score to rise?

In concept it makes sense, the reason I ask is, I have also heard several things that would cause a negative impact by going this route. Thanks
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Old 07-10-2008, 12:34 PM
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Yes, raise your limit and you get down below the 50% mark, simple as that.
go to and you can model all kinds of different scenarios.
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Old 07-13-2008, 12:27 PM
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You have to also consider that by raising the credit limit may decrease the overall percentage of utilization, you are increasing your overall debt potential. Credit worthiness is a very interesting game to play. Before we bought our house, I had to work for 6 months to build my wife's credit. I was able to bring her credit from a 540 to just about 700 in a short period of time. There is a lot to learn and I did most of my reading and research on creditforums and myfico. There are some tricks to getting credit fixed, but the key is patience and persistence. To me, it was a challenge, almost a game where the goal was to better the credit score.

Good luck. I would highly advise reading on those forums and absorbing what they have to say.
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Old 07-13-2008, 11:26 PM
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It would increase your score. You dont want to have your balance owed on credit cards to go above 33% of the total line amount.
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