But how and when do you ask for credit limit increases? There’s a right way to do it and a wrong way.

But how and when do you ask for credit limit increases? There’s a right way to do it and a wrong way.

Increasing Your Credit Limits Can Decrease Your Credit Scores

What you may not know is…when you ask for your credit limits to be increased, your credit scores can actually go down.

What?

It’s true. The type of credit inquiry the lender makes when you ask for a higher credit limit is the type that lowers your credit scores.

I found this out the hard way a few years ago when I asked for a credit limit increase on one of my credit cards. I received the limit increase…but I also received an unexpected surprise…a credit inquiry that lowered my scores.

I don’t like unexpected surprises…especially ones that lower my scores.

How do I know the inquiry lowered my scores? Simple

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