Is it good or bad for your credit to extend your credit limit?

I have had a card for a while and I don't need any extra money or anything but I heard it was good to extend your credit limit on old cards? Is this true?|||It's good when your card balances are a smaller percentage of your available credit. However, having too much credit available can be seen as a bad sign: if you were to actually use it you could dig a hole you couldn't get out of, leading to bankruptcy.





Regardless of the credit limit your bank offers you, protect yourself by deciding how much you could afford to pay on your credit card bills every month if you had to, and never going over 15 to 20 times that. (Chase blindsided some of their customers by bumping the minimum payment to 5% of the balance.)|||The higher limit will help your rating IF you don't use it. Potential creditors like to see individuals using no more than 25-30% of their available credit. RJ