I want to increase my spending limit on my credit card, but they have to run a credit report before they can approve it. Will running the credit report affect my credit score?
Yes. Requesting a credit limit increase is considered a "hard inquiry" and will knock points off your score. Limit your exposure to one or two per year. Tip: the only time you can dispute a hard inquiry is if it was done without your permission. Hard inquiries usually stay on your report for two years. | 01.05.16 @ 05:01