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Valued Member
Posts: 37
Registered: ‎07-29-2010

Don't know whether to apply for new credit card

My FICO scores are 645/648.  I investigated obtaining another credit card just to increase my total credit limit, which would reduce my debt to credit ratio;  however, the only card that would consider me had a 23.9% interest rate (I did not submit the app after seeing that.)  Afterwards, it occurred to me that since I have no intention of using the card in the first place, the high interest rate issue is moot.  Would taking this step increase my FICO score?, or would the increase be so insignificant as to not be worth the effort?  I believe the credit increase would be between $2-3K.



Starting Score:585
Current Score: EQ 656 TU 680
Goal Score: 700
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Moderator Emeritus
Posts: 16,385
Registered: ‎03-12-2007

Re: Don't know whether to apply for new credit card

Moving to credit cards.

Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Epic Contributor
Posts: 28,162
Registered: ‎10-23-2007

Re: Don't know whether to apply for new credit card

What bank are you applying with?

whats your current limits look like?

Util on current accounts?

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