I have three credit cards I use semi-regularly. Two have limits of $7,500, and one has a limit of $11,000. Each of them have a balance right now of a few hundred dollars (nothing over $1,000). I do, however, sometimes carry balances on these cards of a few thousand dollars when I have large purchases, such as a move or plane tickets. My credit score is good (>760).
I'm considering requesting credit-card limit increases on one or more of these cards, simply because I don't see any drawbacks and because it would 1.) be nice to have the additional credit in case of expenses, and more importantly 2.) keep my balance-to-total-credit ratio even lower. Because I'm careful with finances, I don't anticipate actually using that credit unless it's an emergency; the existence of more credit doesn't represent a temptation to reckless spending for me.
Am I missing something here, though? Is this a wise decision? Why wouldn't anyone request limit increases often/regularly?
Submitted October 10, 2017 at 08:35PM by hothouseorchid http://ift.tt/2hAdIsl
