454 – Is Raising Your Credit Limit a Bad Sign?

Debt Free in 30

May 13 2023 • 31 mins

Say your bank offers you a credit limit increase. You may be tempted to take it, but should you? When is seeking more credit a sign that your finances aren’t in good shape? On today’s podcast, Mark Borysiak, our LIT in Barrie, joins Doug Hoyes to discuss just how much access to credit you should have and why getting an increase can cause debt problems. Mark and Doug also explain why the banks offer credit increases in the first place and why it’s good to first evaluate your finances before taking on any offers. Tune in for a great discussion!

Related Links:

The Pros & Cons of a Pre-Approved Credit Limit Increase: https://www.hoyes.com/blog/the-pros-cons-of-a-pre-approved-credit-limit-increase/

Mark Borysiak, LIT in Barrie: https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/mark-borysiak/