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LanaDelRay

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Should I ask for a credit limit increase or new credit card?
I am a college student, and I currently have a credit card with a $700 limit. However, I just started a co-op paying $30,000+/year. I want to use this importunity to build my credit.

My current card is at 101% utilization rate. I just paid it off ($50 balance), and I'm waiting for my statement to close for my credit score to update. It should go up from 580 to 715 according to credit score simulators.

Because knows I have a history of high utilization rates, how likely would they approve a credit limit increase? Or should I just open a new credit card? But wouldn't that hurt my credit score by halving my average credit age?

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I made a typo. It should be "Because BoA knows I have a history of high utilization rates..." It's also a Cash Rewards Credit Card.

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