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?
Answers | 1
Answered by En Towner, ENTowner Build a Legacy Inc. Non-Profit Org. in TX
January 05, 2016
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.
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Answered by Phillip Christenson, CFA in Plymouth, MN
They will both help you build credit at relatively the same rate. A secured credit...