Re: New Cards and Score
11-23-2012 07:22 PM
It really depends....
Your scores will not just go up because of higher credit lines. If you do however have a high balance percentage on your existing credit cards it will reduce your utilization percentage which will raise your scores.
Don't forget that you will get a small hit to your scores for the hard credit pulls for the new cards. This will disappear after 1 year.
You do need to have a minimum of 3 credit cards to maximize your scores so the new cards will definitely help with that.
So....To answer your question more succinctly. Might not do much to your scores short term but in a year you will be golden!
Congrats on the new cards and welcome to the forum!
Starting Score: EQ 658 6/18/12
Current Score: EQ 703 11/9/12 TU 693 10/23/12
Goal Score: EQ 720+ by 6/1/13
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