Term: Credit Card Limit
2 found

Why Does My Credit Card Limit Affect My Credit Score?

By Steven Shaw on 7/14/2015

Why Do My Credit Limits Affect My Scores?

Occasionally we get questions from readers who have gotten an automatic credit limit increase, and they wonder if there is a downside to accepting it. Or they close a little-used account and their credit scores go down, even though they are using cards and paying them off exactly as they had been.

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Credit Card Limit
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How Do They Decide What My Credit Card Limit Should Be?

By Steven Shaw on 5/6/2015
How Do They Decide What My Credit Card Limit Should Be?First you cross your fingers hoping you’ll get approved for the credit card you want. Then you cross them again hoping the credit limit will be generous enough to get you what you want. Maybe you need it to pay for some expensive dental work you have to get done. Or perhaps you are applying for a 0% balance-transfer offer so you can transfer debt from other, higher-interest cards. Either way, the credit limit they give you is a few hundred, or a few thousand dollars short of what you need — and you have no idea why. How did they even come up with that number?
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Credit Card Limit
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