How do I request an increase in my credit limit?

I just found out that keeping my credit debt percentage at 25% of my credit limit helps my credit score. I have a $500 credit limit and would like to spend up to $250, so I'd like to upgrade my credit limit to $2000 to keep my credit debt below 25%. Is this a good idea?|||yes





Call the 800 number and ask





If your credit is good they will do it immediatly|||Contact the company by the # on your card.|||Just call the customer service number on your card and ask. If you have a spotless payment record they will probably raise it.|||I think you can also do it online if you have account.|||This is a dumb idea. We're talking about 250 bucks. Either use the card then pay it off within two months or save the 250 and pay cash.





Also, it isn't really going to help your fico score. Fico is based on 5 things - Payment history (35%), Amounts owed (30%), Length of debt history (15%), New credit (10%), types of credit (10%). Nowhere is using 25 percent of your credit limit factor into the equation. Putting another 250 on a card goes into the amount owed which is 30 percent of your fico equation. You're idea hurts you.





Finally, I can't imagine a credit company agreeing to increase your limit from 500 to 2000 dollars.





Just pay cash or pay it off quickly.