Level 2

Credit score

It CAN help. A significant piece of the credit score puzzle is based on credit allocation which is basically what percentage of the total credit offered to you you’re using. If you increase the card limit from 10k to 20k, the credit allocation would basically be cut in half because 8k is 40% of 20k and 80% of 10k. I don’t know the exact number but I believe credit allocation greater than 30% can significantly affect your credit score. Raising your limit present some obvious risks though because, if you’re not disciplined, you may end up spending more than you would have because the extra credit exists. That just means more time paying it down and more interest paid.