Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
Re: By getting a new account will your fico scores go up?

Lil_Me wrote:

I have a question, if you get approved for a credit and do not use it will that open credit limit help your fico scores go up?


It's not unusual to have a FICO drop when you add a new acct. It depends on your AAoA and util. So, getting a new CC and not using it does NOT guarantee a FICO increase at all, and may in fact, have the opposite result.

 

As others have said, the CL will help your overall util, which may or may not affect your score -- depending on what your util is before the new CC.

 

I don't think I'd add a card *just* for that. I would want a card that serves a purpose -- like rewards, 0% financing, etc. Then any help with your util is just a bonus. :smileyhappy:

 

 

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!