I recently got an offer to increase my credit line on my American
Express Card...  Does this hurt my credit.  And are there websites and
other informational sites that could help me learn how to increase my
credit score, and provide other good informational tools that would
help me with other financial matters.

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Clarification of Question by dj2965-ga on 26 Sep 2004 10:18 PDT

Does a credit card company pull your credit to offer you an increase
of credit on a card that you already carry with them?   Thank you
handlit33-ga.

Hi DJ, I was browsing google answers and came upon your question and
figured that I would give you some free advice.  I, like you, were
very curious at one point on how to increase my credit rating, so I
did a lot of research and came up with the following information...

In reply to your question about an increase in credit line hurting
your credit, there isn't really a cut and dry answer to this question.
 Creditors want to see that you have existing accounts that have been
used regularly, but aren't always maxed out.  So, if you took the
credit increase, it wouldn't necessarily hurt you unless you used all
that available credit and kept it maxed out all of the time. However,
if they have to check your credit in order to give you the increase,
it will count as inquiry to your credit and lowers your rating
slightly.

Here are some more things that affect your credit:

1.  Limit the amount of times you apply for credit.  Every time you
apply for credit, regardless of whether or not you get approved, it
lowers your overall credit score and counts as an inquiry.

2.  Don't max out your available credit.  If you have a significant
amount of available credit and you have used all of it, chances are
slim to get approved for more credit unless you pay some of your bills
off.

3.  Pay your bills on time.  If you are 30 days or more behind on your
bills, chances are your credit score will reflect.

4.  Don't file for bankrupcy or leave accounts unpayed.  This will
greatly affect your credit score in a negative way.

5.  Age of your credit.  Even if you're 30 yrs of age, you still may
not have an "old" credit history.  Depending on when you started your
credit (when you got your first credit card, cell phone, or something
else based upon your credit history).  A young credit history is
anyone with less than 7 years.

6.  Errors on your credit report.  It is very common for you credit
report to have errors on it.  Check your credit report at least once a
year and before each major purchase for accuracy.  This is a key way
to get everything you deserve for your good credit.

I hope this info helps you, please be sure to search the web for more
information on how to help your credit score.