I just recently got my first credit card in years. I knew that not having a single source of revolving credit was hurting my score, although I didn't realize by how much. I went from having a 587 to a 663 in a month... and it has stayed steady over the 3 months I have had it in my possession. It started as a small credit line (only $200) as a way to build up the credit...
In a couple of months my (yes I am about to say a bad word here) lease is up. I will be looking to buy a cheaper car to save on some money. Looking at my credit reports, the lack of higher balances was hurting me. I can easily call in and request a higher balance, which I'm sure I would get approved for... but this would also put a hard second inquiry on my report...
Which would be better for me to do? Add the second hit or increase the balance (again balance would probably only go up by a couple of hundred dollars).
