08-26-2010 07:12 PM
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.
08-26-2010 07:28 PM
What bank are you applying with?
whats your current limits look like?
Util on current accounts?
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO