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.
Will an increased credit card limit help or hurt an upcoming line of credit app?
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?
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