Re: By getting a new account will your fico scores go up?
02-28-2012 12:44 PM
Ok by util you mean my other credit cards balances, correct? I have three credit cards that are maxed out and 3 store cards that are at %50 mark. I was just approved for two new cards with a low limit.
Yes, if you had 3 cards with 100 bucks each, and they are maxed out... you are sitting at 300/300.
If you just got 2 more cards with 100 each, then your total utilization would sit at 300/500.
Your utilization just went from 100% to 60%, but you still are using 100% of 3 credit cards.
What you are originally asking is quite a broad question and can be different depending on what your report and mix look like.
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