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Question By
johneobinpa

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Conflicting credit factors
I want to open 1 or 2 more credit cards only because I want to increase my available credit. But if I do this, then 2 negative things happen to my credit. First, the credit card companies make an inquiry regarding my credit rating and that becomes a negative factor. Secondly, if I do get one or 2 more credit cards they are averaged into my credit age and that goes down. My score is just a little over 800 now.

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Helpful to 3 out of 3 people

What's the question? Is it should you do it anyway?
I remember reading once that the higher your score is, the bigger the hit will be when you do something that negatively affects it. So if a person with a 640 score misses a payment, their score will drop x number of points. If a person with an 800 score misses a payment, their score will drop much more than x.

So with your score being so lovely, I would weigh very carefully whether I really needed that extra credit versus how important it is to keep that ultra-high score every minute. 

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