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A new CC will make my score go down! Will on-time payments improve it enough to make it worth it?
According to this sites simulator my score will go down as much as 40 points if I get a CC. I have zero debt. Everything paid off and closed. Will getting a CC and making on-time payments for a year increase my score over that 40 points? I want to know if it is worth taking the temporary hit?
Asked by
AMCMSM
1 year ago
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NOPE
jte1958 1 year ago
Over time, getting the new CC and paying it off on time (and keeping the utilization % below 30%) will increase your credit score because of the following:
1. show ontime payment history
2. show a low credit utilization % (you have no utilization at all right now, which does not benefit you)
3. Increase type of credit being used
In the long run, it is good.
hawkeye0314 1 year ago
you should get it...if there is no fee
blindley 1 year ago