04-02-2007 01:12 PM
I know that the simulator states that you can increase your score by applying for credit. but I think what they are really trying to say that if all your credit cards limits vs how much you actually owe is I believe less than half of what your limits are than your score climbs.
If you open a new card don't use it or if you use it don't exceed half of the limit-this drops your score. Right now I opened an American express -I called them because their balance transfer program online did not allow me to put what I wanted to transfer***caution****. I paid off all the other cards ___****Leave them open but don't use them!!!******* I then am pouring all the money I can to pay off this other credit card to less than half so my score can grow. Pay more than the minimum! Hope this helps!