Quote:
Originally Posted by flatbutt
I have no problem controlling my spending. I'm very disciplined in that way. AmEx keeps raising my credit limit and in the past I've said no leave it alone. So, are there downsides to having the limit raised?
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Higher limit reduces your utilization percentage which is good.
What sucks is when you let a card go idle and they drop your limit, it increases your utilization percentage which drops your FICO even though you still owe the same.
I have a very high line of credit and keep my utilization under 25%.
In April had 2 FICO changes.
A$4k increase in utilization dropped my score 13 points but a $7k drop in utilization increased my score by 30 pts.
You should use creditkarma.
I check my accounts minimum once a week if not twice.
It's interesting to see what events trigger FICO changes.