Getting new credit with high util

[RHAL]

I was just approved for two new cards, hhonors visa and cap one cash rewards. The total of the credit lines is 2750. My util now is %60 percent at $4700/$8300. Do you guys think this will vastly improve my fico? My util is gonna go down a lot, or may it hurt a little with the inquiries and new credit?

[MarineVietVet]

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@RHAL wrote:

I was just approved for two new cards, hhonors visa and cap one cash rewards. The total of the credit lines is 2750. My util now is %60 percent at $4700/$8300. Do you guys think this will vastly improve my fico? My util is gonna go down a lot, or may it hurt a little with the inquiries and new credit?

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You'll go from 57% utilization to 43% but it's hard to say how much this will help because it depends on what else is on your credit reports.

Any damage done by the inquiries and new credit is temporary and you will recover pretty fast say 6-12 months. But esimates are just that. No one can accurately predict what will happen.

[RHAL]

Thank you sir.