What I have done is only apply for credit that will not reduce my avg age-
Drop the CR right into a spreadsheet and see causes and effects.
CLI on existing cards are the easiest and most pain-free way to increase scores. I say start there.
UTL (Utilization) is scored both on overall balances/CL and on individual cards-
@Anonymous wrote:
I understand that it is not a good idea to close credit card accounts because the reduction in available credit will cause a major reduction of the credit score. What about applying for unneeded credit cards in order to increase available credit, and thereby increase one's credit score? I use business cards for most of my credit card activity, in order to get the rewards, and, while these cards have high limits, they are not reported to the credit bureaus. I recently took advantage of a 0% for life of loan offer in order to help my daughter buy a car. This was a personal card and has been reported to the credit bureaus. The card came with a relatively low credit limit compared to the balance, and my score went down. I have a couple of more personal cards that I rarely use, but I started to use them once a month, and my credit score improved a little. Is there any reason not to apply for additional personal cards since the credit applications will have a smaller negative impact on the score than the positive impact of higher credit?
