When you see that tempting “request a credit-line increase” message on your credit card statement, it can be very tempting to take advantage of the offer. Before you apply for an increase, however, creditcards.com recommends asking yourself these five questions:
Why do I need a credit-line increase? Do you need an increase to help you finance a large purchase, like a trip or a new fridge, that you’ll be paying off the following month? Or are you spending more than you make and running out of credit? If it’s the latter, an increase is not a smart move and will only land you further in debt.