Asked by Ashley Soto  |  Submitted January 02, 2016

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?

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  Answers  |  1

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.

Ashley Soto | 01.05.16 @ 20:01

Hi En, Thank you for your insight. I read that increasing your spending limit helps your credit score because the percentage of credit used will be less. Would the few point knock-off be offset by a smaller percentage used on the credit card?

$commenter.renderDisplayableName() | 09.23.20 @ 06:47