Ive heard it can help and that it can hurt my credit?
a CIBC VISA.
Hi...
#1) You need to use your card and pay it off in full each month to improve your credit.
#2) If you increase your credit limit, that only hurts you when you go to apply for a loan (mortgage, car loan, etc). Say for example, you have a credit limit of $2000. And you owe NOTHING, you've been a good boy and paid it off in full. Does that matter to the banks? YES, because they look at how much money you could POTENTIALLY be in debt. So in their eyes, that $2000 works against you, not for you.
Don't bother increasing your credit limit. Often when creditors are asked to raise your limit, they will look back at your credit history. This is called an "inquisition" and it DOES affect your credit in a bad way- just by LOOKING at your file.
Ever seen that show Till debt do us part? The financial advisor is canadian, you should really check it out she really knows her stuff:
http://www.gailvazoxlade.com/debt.htm
If you do not use your card, it does not help your credit.
if ur not gonna use the card then y ask to increase ur credit limit? it doesn't "help or hurt" ur credit by the way.