Applying for a new credit card once you have a couple or more in your in your pocket or purse is, in my opinion, upon which I will support, not a good short or long term FICO move unless your really, really know the credit game. First, they will hit you with a new hard inq, which will hit you with around -10. Some hit you with a yearly fee. The increase in CL may seem tempting, but it is normally only a ripple in the bigger ocean of your overall credit limit. It will also reduce your avg time for revolving accounts. What new creditor offers any kind of low-end interest rate, unless your have a high FICO, and dont need the card anyway? And then you have to manage it. So you take a hit in two categories, as opposed to a gain in the %util category. While many seek buko credit cards, FairIsaac public documents on their scoring model shows that the optimum risk they assess for this category is only 2-4 open bank cards (whjich excludes crap cards), and the risk factor increases above that. I have never needed to check into the Sleigh center to refrain me from applying for a new credit card from another profit merchant, for it is a no-brainer for me.
New credit cards are great for those who have good credit, and are seeking benefits and rewards offered by stepping up to higher end cards with their perks. They know the game, and how to benefit. But new cards are not generally for those of medium or lower credit. Not for those who dont know the game.
Just my caution and opinion.
