I have the option of increasing my credit limit from 1000 up to 5000, however i will be applying in the near future for a 10k line of credit for a car loan. By increasing my credit card limit, will that help or hurt my future application?
Will an increased credit card limit help or hurt an upcoming line of credit app?
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If it is an unsecured line of credit the more external credit you have extended to you the more this will hurt you.
If it is a secured LOC it doesn't matter.
If it is a secured LOC it doesn't matter.
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