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nessa1333

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New Credit card or line increase on a credit card
What is better to do get a new credit card or ask for a line increase on a card you all ready ??

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Increasing your credit limit on a current card will look good on your credit and benefit you in the long run.  Whenever you charge something, your utilization will be less because your credit limit is more. Please take the time to read the articles here and other sites. It sure helped me. 

Other creditors will see the higher credit limit, and begin sending you offers for their cards. 

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Here's the answer

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It is ALWAYS better to get NEW CREDIT LINES instead of ask for additional credit from an existing lender.  Here's why: The existing lender doesn't give a CRAP about you.  Period.  You know who gives a crap about you?  Someone looking to sell you something.  So, for example, instead of asking for MORE credit, go to a retail shop on a SUNDAY and tell them, "Look. I'd like to buy BUT I need you to extend me credit."  TireKingdom, for example, may approve a new $1200 line of credit ON-THE-SPOT just to sell you $400 worth of goods.  That expands your overall credit lines by $800 net, which in-turn, reduces your overall, "ratio of credit used".  Get it?  So, for instance, let's say you have one credit card like CapitalOne with a chump change line of $1650, and it's entirely-exhausted because in 2017 $1650 doesn't buy much.  So, you'r utilization is 100%, which in-turn, degrades your credit score.  Now, once the added $800 unused credit is added into-the-mix from the TireKingdom credit line, you are no longer using 100%, but less.  So, this IMPROVES your credit score. 

I know, I know. It's all ridiculous.  But to "beat the stupid system" you have to beat them at their own game, which means, "demand credit to purchase a retailer's goods - or leave".  Retailers want to SELL so they'll extend you credit... increasing your overall credit lines, and reducing your "utilization of credit lines (ratio) used."

So, "when you buy... demand credit"... and get things for free wghile improving your credit score!  That's how DUMB the entire credit score system is.  It must have been designed by an idiot.  GAME IT.  My opinion.

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