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what is better to do----have two new credits of 5000 or one new of 10,000

New Contributor

what is better to do----have two new credits of 5000 or one new of 10,000

what is better to do----have two new credits of 5000 or one new of 10,000 to help score
Message 1 of 5
4 REPLIES
Senior Contributor

Re: what is better to do----have two new credits of 5000 or one new of 10,000

really depends on you overall goal. are you talking secured or unsecured? are you trying to establish good accounts to dilute bad ones? are you trying to get a high credit line to nudge others into going higher?
Message 2 of 5
Moderator Emerita

Re: what is better to do----have two new credits of 5000 or one new of 10,000

I guess it depends on how many you have now. If you already have a bazillion, adding two might get the red flag for "too many accounts." If you only have a few, it would probably help to add two, as sometimes people get carped at for insufficient revolving TL's.

So for straight scoring, any difference would occur in one of those situations. For most people, it shouldn't have an effect.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 3 of 5
Super Contributor

Re: what is better to do----have two new credits of 5000 or one new of 10,000

Depends also an current average age and number of cards - 2 new one's hit age more than one new one
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 4 of 5
Highlighted
Community Leader
Epic Contributor

Re: what is better to do----have two new credits of 5000 or one new of 10,000

If you have one card with a 5000CL that has some age on it, it is generally better to get a CLI of 5000 on that card than to open a new card with a 5000CL.  Total CL will be the same, and yet your avg date of credit will not be reduced.  While you will probably be hit with a hard inq. for the CLI, you will also be hit with a hard inq for the new card.  Go first for a CLI on the exisitng card.
Message 5 of 5