That credit limit bump before renewal? Here’s the truth.

That credit limit bump before renewal? Here’s the truth. 1. Accepting a pre-approved credit line increase within 90 days of your mortgage renewal can trigger a hard inquiry — temporarily dropping your score by roughly 5 to 15 points, which is the real risk here. → 90 days 2. Here’s the myth-busting part: under CMHC’s official guidance, lenders calculate your TDS ratio using your outstanding balance — not your credit limit — so a zero-balance line of credit contributes exactly $0 to your ratios, no matter how high the limit goes. → $0 3. Those narrow credit score bands matter more than most people realize — on a $400,000 mortgage, a rate difference of just 0.15% costs roughly $3,000 over a five-year term, which is why protecting your score before renewal is worth taking seriously. → $3,000 4. The simple move: wait until after your mortgage renewal closes before accepting any credit increases — especially if you’re switching lenders or sitting close to a score threshold, since new lenders often treat renewals almost like fresh applications. Full breakdown linked 🌐 getwealthy.blog #CanadaFinance #PersonalFinance #CanadianMoney #MoneyTips #Canada