4 Thoughts on if you ask a credit card increase and they declined your request it will be effect your credit score?
  1. Reply
    August 24, 2011 at 12:25 am

    I understand that inquiries on your credit record might impact your score ( since it appears you are seeking to borrow more ) but I being declined in itself is bad.

    Here’s some info ( ‘Facts and Fallacies’ ) from ‘MyFICO.com”

    “Fallacy: My score will drop if I apply for new credit.
    Fact: If it does, it probably won’t drop much. If you apply for several credit cards within a short period of time, multiple requests for your credit report information (called “inquiries”) will appear on your report. Looking for new credit can equate with higher risk, but most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score.”

    good luck

  2. Reply
    GW II
    August 24, 2011 at 1:14 am

    The only way this would hurt your score is if they pull what is called a “hard inquiry” on your credit report. This leaves a notice that they looked at your report, and anyone that looks at your report for 2 years following can see this note. Some companies do this when asking for a credit limit increase (Chase for example) but many only do a “soft inquiry” which does not affect your credit score, and is only visible to you, when you look at your own reports directly from the credit bureaus.

    If they ask for your permission to pull your credit report when you talk to them about increase, this is a red flag that they will likely pull a hard inquiry.

  3. Reply
    August 24, 2011 at 1:18 am

    The declining will not.

    The asking will, although not very much.

  4. Reply
    My Take on It
    August 24, 2011 at 1:39 am

    It counts as an inquiry

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