6 Benefits Of Increasing Your Credit Limit

Increasing your credit limit just means giving yourself the opportunity to spend beyond your means, right? Not necessarily. Increasing your credit limit can have a number of upsides if you manage your credit wisely.

1.Lowers Your Credit Utilization and Increases Your Credit Score
2.Cheaper and Easier to Get Loans and Additional Credit
3.Helps in an Emergency
4.Increases Your Rewards
5.Lets You Make Large Purchases Efficiently
6.Helps You Avoid Credit Score Dings

The Bottom Line
If you know you're likely to spend up to your credit limit no matter how high it is, that major drawback will outweigh these benefits of increasing your credit limit. Otherwise, consider requesting an increase. It's usually as simple as sending an email to customer service.