Timeline for Does a declined request to increase my credit limit hurt my credit score?
Current License: CC BY-SA 3.0
6 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Aug 9, 2017 at 19:33 | comment | added | CactusCake | @WBT I think it depends on the lender. I have seen other users comment here on finance.SE that their unused limits were indeed used against them in the debt-to-income ratio calculations used by potential lenders. | |
| Aug 9, 2017 at 19:29 | comment | added | WBT | Would a higher limit, if not used, affect debt-to-income ratio or have any negative effect on the mortgage shopping example? If it doesn't, then the customer doesn't need to ask for a limit reduction - they can just act as if they still had the lower limit (unless they lack self-discipline and really need the externally imposed restriction). | |
| Jul 11, 2017 at 12:49 | vote | accept | AverageWorker | ||
| Jul 5, 2017 at 15:16 | comment | added | CactusCake | @TTT Thanks! I knew the effect does not last the full two years, but I wasn't sure exactly how long it actually stayed for. The linked answer is very detailed. | |
| Jul 5, 2017 at 14:58 | comment | added | TTT | Note that even though the hard inquiry stays on your report for 2 years, it only affects your score for at most 1 year: money.stackexchange.com/a/77630/17718 | |
| Jul 5, 2017 at 14:43 | history | answered | CactusCake | CC BY-SA 3.0 |