Too few bankcards with high credit limit

VantageScore code numbers

Code numbers can differ by bureau and score version. The wording of the statement is what to match.

What puts this reason on your score

This statement is about the size of your biggest lines. VantageScore doesn't publish what counts as a high limit. The 3.0 versions of the idea look at how many cards have high limits, code 30, and at your single largest limit, code 36.

It shows up on young files and on files built from secured and starter cards. Someone with three cards at $500, $750 and $1,000 can pay perfectly and still see it, because none of the limits is large.

What to check on your credit report

• The limit on each open card
• Cards reporting a lower limit than the real one, or no limit
• Older cards that may qualify for an increase

What you can do about it

• Ask the issuer of your longest-held card for a limit increase, and ask first whether it uses a hard inquiry.
• Graduate a secured card to an unsecured one with a higher limit if the issuer offers it.
• Don't open several new cards to chase a large limit. Each one adds an inquiry and a new account.

How soon a change can show

A higher limit counts once the issuer reports it, usually with the next statement. Limits on new cards take time to grow.

If you are applying for a mortgage

A limit increase request can mean a hard inquiry. In the months right before a mortgage application, find out how the issuer handles it before you ask.

Guides that go deeper

• What a higher credit limit does to your scoreA higher limit lowers your utilization only if your balance stays put. How the math works, when the request costs a hard pull, and when to skip it.
• When a secured card graduates, and how to get yours thereGraduating a secured card can keep its history and return your deposit. How that compares with closing the card, the utilization math, and what to ask.
• Does asking for a credit limit increase cause a hard pull?Automatic increases use soft reviews. Requests vary by issuer and size. See what each big issuer is reported to do and how to confirm before you ask.
• How many credit cards should you have? The math behind the numberFICO publishes no ideal number of credit cards. What matters is what each card does to utilization, account age and recent applications. The math, worked out.
• What your credit score reason codes are telling youReason codes list what held your score back the most, in order. What the common ones mean, which you can act on, and which to leave alone.