Need some credit card advice

[bridgetkaryn]

Hi All,

I am new to FICO forums, but have been lurking for a while and getting great information! I recently applied for 2 new cards (Macy's and BofA) after reading the posts on this forum they seem to be the best for increasing CLs quickly and easily.

Here is my question: I currently have a 1%utl rate (due to when they report, I pay off each month) on my cards but only about $2000 in available credit. Would it benefit my FICO scores to apply for more cards to increase the amount of $$ available to me or is it all based on utilization?

Thanks!

[marty56]

From a FICO standpoint, a CLI only lowers your overall util which would incrase your score. At 1% util, it wont have any affect and your score will probably go down as well because of the INQs and new account and possible effect on account age.

Just my opinion but I would never apply for more credit or a CLI as a tactic to raise your credit score by increasing your overall util.

They only reason I would apply for a CC would be to get a prime card from a subprime one or you a a specific need to purchase something.