Credit card limit increase: accept or not?

[beee]

My bank has been offering to increase the limit on my credit card for several years.
I always ignore it, because $10k limit is enough for me, and a pretty round number :)

But maybe I don't understand something and should accept it?

What do you think?

[Bracken_Joy]

I mean... why not? It'll lower the % utilization of your credit, which may raise your credit score. If you're not carrying a balance, and not the type to spend up to a balance, there's literally no downside to accepting credit line increases.

[Sibley]

You have an option to accept or decline? Lucky! I just get a letter with "congrats, we raised your limit!" and then have to call and tell them to lower it.

As long as your total available isn't getting obscene, you're probably fine.

[Johnez]

Depends.  If you keep your balance at zero (which you should) it doesn't matter at all.  If you run a small balance (some people do), the percentage of debt to available credit is lowered and will eventually improve your credit score.  If you run a very large balance, this will only tempt you to spend more, in which case of course the answer is hell no don't raise that limit.

[frugaliknowit]

If credit score is important to you, having a higher limit will help your utilization lower, potentially giving you a higher credit score than at your current card limit.

Personally, I won't exert any effort to increase my credit limit; if they raise me, fine, if they don't, I don't give a rats axx...

[BlueMR2]

Same here, mine just gets raised and I'm notified.  I don't have an actual decision to make.  I can't imagine any logical justification for actively working to have it decreased but I wouldn't exert any effort to have it be raised either.  If I have to do something to "accept", I'm just too lazy...

[Meesh]

If you don't have problems with credit and always pay it off (key point), then I'd accept it. It will raise your credit score by having more available credit and a smaller percentage balance as already mentioned.