which is better for improving your credit score?

[Anonymous]

which will better your fico score a credit card with a higher credit limit or a credit card with a lower credit limit

[Anonymous]

Well, that depends.

Do you have any other revolving credit accounts on your CR?

Do you plan to carry a balance? If so, how high?

The higher your CL, the higher your balance can be and have a low util still.

Example:

CL $300, balance $30, utilization is 10%

CL $600, balance $30, utilization is 5%   --- FICO likes this util much better.

Message Edited by sidewinder on 05-01-2008 06:42 PM

[Anonymous]

I would say higher limit, but if a lower-limit card is all you can get, it's a LOT better than no revolving accounts at all in terms of improving your credit.

[Anonymous]

thank you for your response. I do have another question. Does the same still hold true regardless if the card is secured or unsecured credit as long as I keep my utilization low? Would it still help my score in the same way as an unsecured card? or do to the fact that it is secured credit would it help but maybe not as much as an unsecured card?

[shyboy]

yea you are correct it doesn't matter

Message Edited by shyboy on 05-01-2008 07:09 PM