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Credit cards
This is the tax forum, there is a credit score forum in the new Community (click the community link at the top of the page).
It’s not an obvious answer. Having more credit available if helpful if you don’t use it—if you have $2000 debt against a $10,000 limit (20% credit use) it looks better than borrowing $2000 against a $5000 limit (40% usage). But if you use your new limit, your score will go down. Your score will also take a hit temporarily just for opening a new account.
It’s not an obvious answer. Having more credit available if helpful if you don’t use it—if you have $2000 debt against a $10,000 limit (20% credit use) it looks better than borrowing $2000 against a $5000 limit (40% usage). But if you use your new limit, your score will go down. Your score will also take a hit temporarily just for opening a new account.
June 11, 2019
9:12 AM
2,399 Views