Looking for a quick way to boost your credit score, without paying down debt?
Here’s a smart move: Ask your credit card company for a credit limit increase.
Here’s why it works: If your card limit is $5,000 and you typically spend $1,000, your utilization is 20%. But if your limit increases to $10,000, that same $1,000 is just 10% utilization.
Lower utilization = higher credit score.
Many banks allow you to request a limit increase with a soft inquiry, so there’s no risk to your score. Just remember: don’t increase your spending just because your limit went up!
This is one of the easiest ways to improve your credit score and strengthen your credit reputation.
