Does Raising Your Credit Limit Help or Hurt Your Credit Score ?!!!
The Answer : Yes it does, and this is the reason why:
1. Payment history-35%
2. Total debt owed vs. available credit-30%
3. Length of time establishing credit-15%
4. Types of credit established-10%
5. Inquiries and new accounts-10%Increasing your credit directly affects #2 because it creates a much needed cushion betwee the total debt you owe and the available credit you have. Now this won't help if you carry a balance more than 30% of your combined available credit. So with that in mind make sure that you keep the balances low if not at 0.
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