will a credit limit increase decline hurt your credit
Generally speaking, keeping your balances low on credit cards is good for your FICO score because that helps keeps your credit utilization rate low. When a lender raises your credit card limit, that may lower your credit utilization rate and, in some cases, could increase your score.When a lender lowers your limit or closes your credit card account, that may raise your credit utilization rate.It doesn't matter to your FICO score who closed your account â you or the lender. Closed accounts can remain on your credit report for several years.hen a lender raises your credit card limit, that may lower your credit utilization rate and, in some cases, could increase your score.