New Contributor
Cprman
Posts: 62
Registered: ‎05-04-2008
Re: Credit Line Increase always good for credit?

I think the most important thing is you want to get a mortgage relatively soon. The number one reason to get excellent credit is for your mortgage rate as even fractions of a percent leads to thousands of dollars in the long run.

 

You already have excellent credit scores. If you don't need more credit I would say hold off on any activity. Even a single hard pull can mean the difference. Furthermore with another year of aging and some old derogs that will be older your age will be longer and your scores likely some what higher.

 

Usually unused credit doesn't matter that much but these days getting a mortgage is more than just a FICO score. Ie job history, income, other debts...

 

Once you have a mortgage btw it will also really help your credit score as long as you pay on time.

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