What should I know about credit limit increases?

Updated 6 months ago

A higher credit limit may give you more flexibility with your spending, but it may also take longer to pay back, so you should think carefully about whether you need to borrow more.

However, if you maintain the same credit card balance each month, a credit limit increase can help improve your credit score by reducing your utilisation rate, which is the percentage of the total credit limit you’re currently using.

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