Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Karma
Profile Image

Question By
fandogh

0 Contributions
0 People Helped
applying for a new credit card vs. increasing your credit limit on your current credit card
which one helps more increasing your credit score? which one is more advantageous?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
119 Contributions
32 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

I think they both have pros and cons. If applying for a credit line increase involves a hard inquiry on your credit report, that might not be the best choice. If you apply for a new card--which will, of course, involve a hard inquiry--and you're approved, then you have an additional account, and that's a plus when it comes to your overall score (total number of accounts). In either case, your overall credit available will increase, which is good (credit utilization). You can find out BEFORE requesting a credit line increase whether there will be a hard inquiry; in my experience, Bank of America does do a hard inquiry, while Discover and Capital One do not.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.