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Question By
Salemdon

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Opening new credit card. Good or bad for credit score?
I have been on Credit karma for years , and it has helped me get back on my financial feet.
Now my credit is improving I am getting more offers of credit cards almost every month.
I have 3 already and after an initial period were i over used, the balances are going down and i have 61% usage..and dropping.
If i was to accept 2 more credit cards and not use them..this would bring the available credit down to near 40%.
I understand i will get 2 "hard inquiries" and this will drop my score....but in the longer term is lower utilization worth it?

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Top Contributor
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YOU DON"T NEED MORE CREDIT CARDS!

YOU NEED TO STOP USING THE ONES YOU HAVE !      .  . . .      STOP USING THEM NOW!

You have Bad Habits by Charging so much on the Credit cards.

PAY off your Current Credit cards and then and ONLY THEN ,   should you look at another Credit Card. 

NEVER EVER CARRY a BALANCE on a CREDIT CARD!

EVER!

Sorry for the Caps!  and yes I was Yelling.

Reply by
Salemdon

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I understand were you are coming from and yes in the past i have had bad habits with credit cards.

I recognize that and thats why my utilization has falled from 90%  to 60% in 3 months..I am just trying to see if its possible to speed up the drop in utilization.

Havent used a card in those 3 months at all.

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