Is there any specific credit limit I should not exceed?

Last Updated: May 16, 2013 09:03PM UTC

A portion of your credit score is based on the relationship between your balances, and open credit lines. Assuming you self-manage your spending and payments in order to keep balances low, you’re not hurt by having high lines of available credit. (The further apart those two numbers are, the better it is for your credit).

Requesting a credit line increase is often as simple as calling your credit card company or requesting it online, although you should be aware that it will trigger a credit inquiry that could temporarily lower your credit score.

If you’re in the midst of loan shopping for a mortgage or refinance and that process has brought several inquiries to your report recently, you may want to hold off on requesting the increase to manage the amount of inquiries to your report in a short time frame. But if you are approved for higher lines of credit, the increase will likely help your credit more than the inquiry will hurt it—as long as you don’t start charging higher balances as a result.
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