Fico score, credit score question.?

I have a credit card with a $ 3,750 credit limit. If I ask it to be raised to $ 5,000, will this decrease my credit score/FICO Score ? I heard that it might, because I am "applying for credit", and that will lower my credit score. RIght now my FICO score is 750.

Public Comments

1. Not enough to effect you, go for it.
2. A couple of points. At 750 you have excellent credit. I wouldn''t worry too much about that. You will get the points back over time. Good luck!
3. The immediate impact will be down because you are applying for additional credit but the eventual impact may be up as long as you don't use the available credit. Part of your credit score is the ratio of balance to total credit line. The lower this score the better. 750 is a very good credit score. I wouldn't play around with it. Just continue to use credit wisely and pay your bills on time and you're stay in great shape.
4. You are fine to do it. Just make sure to only keep using no more than 25% of your total credit limit monthly for best results. Good luck.
5. Considering your score of 750 and the fact that the credit card company will do a soft pull which has no effect on your score and the fact that you are only asking for $1,250.00 additional credit, I would not worry about it.
6. The following 5 critical factors affect your credit score in a major way. By knowing these you can keep a check on them and make your credit score a healthy one. 1. Re-payment history This factor carries the highest weight in your credit report. How steadfast are you in repaying your loans, makes your credit report shine. Experts claim that this factor alone accounts for 35% of points in your credit score. So, if you falter on repayment front it is sure to be reflected poorly on your credit score. 2. Outstanding debt The next comes your debt burden. How much you owe is a factor that according to experts carries about 30% weight in your credit score. This is 30% is based upon outstanding debt. To get a better score it is advised that you keep your outstanding debt to a minimum. 3. Length of your established credit history The time for which you have a credit history also matters. The longer your established credit history the more credit reporting agencies believe in you. This could be simply because of the fact that they have more data to analyze your financial position. Experts give it a 15% weight in determining your credit score. 4. The state of your financial accounts How much money do you have in your bank account, your income levels, your house, car, your assets etc. comes the next. A healthy bank account reflects a healthy credit score. Experts find that credit reporting agencies give this factor 10% weight while determining your credit score. Read more about it at: http://www.credit-card-gallery.com/article/204,5_critical_factors_affecting_your_credit_score