Does increasing your credit limit help your FICO/credit score or hurt it? ?
I have read that increasing your credit limit can help improve your credit score because you have a better debt to available credit ratio. But then I also read that it can hurt your score as it just told me today when I got my credit report online. There was a list of things that could hurt my credit score and one of them was having to high credit limits. I thought that even if you have a high credit limit that it’s not a problem as long as you’re don’t have high debt. I am very confused about this and hopefull someone can clarify, should I be asking my credit card companies to raise my limits or lower them to help my credit score?