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DDVAVO

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Credit Utilization vs credit inquiry
So according to credit karma, these are my factors:
Credit Card Utilization: Poor High Impact
Payment History: Excellent High Impact
Derogatory Marks: Excellent High Impact
Age of Credit History: Poor Medium Impact
Total Accounts Good Low Impact
Credit Inquiries Excellent Low Impact

I just opened a new credit card to get a balance transfer for no interest and no fee but it was not enough to cover my credit card debt. I want to request a credit increase on the new card I just open to cover the rest of the balance. I know another credit inquiry for the credit increase right after opening a card will bring my credit score down but it will help my Credit Card Utilization from 70% down to 40% if I do get approved for the credit increase. So my question is, is it worth the risk to ask for a credit increase and being denied and it negatively impacting my credit inquiries (keeping in mind that its at excellent and would be a low impact) to being approved and negatively impacting my credit inquiries but increasing my Credit Card Utilization Score which is a high impact category?

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If you have just opened the card I am not sure if I would immediately ask for an increase, they most likely started you out where they were willing to with the limit they set. I personally would wait until I paid 5 or 6 monthly bills with a new credit card before asking for an credit line increase. Maybe another route to go would be to find another card with zero interest and apply for that. Maybe you could ask others on here if they were able to get immediate credit line increases on the card that you hold.

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