Next to paying bills on time, few things can tank your credit score faster than running up debt balances. In fact, credit utilization, or debt divided by total available credit, accounts for 30% of your FICO credit score. One common tactic cardholders use to improve their credit scores is to request a credit limit increase. But will doing so hurt your credit score?
In the previously recorded Facebook Live video below, Motley Fool analysts Nathan Hamilton and Michael Douglass answer a user-submitted question about credit scores and increasing your credit limit.