07-13-2018
04:07 PM
07-13-2018
04:07 PM
Depends on what you want to achieve. Two things happen if you keep on opening up new cards all the time. 1) On the downside, you will decrease the age of your credit which is not as damaging on your credit as other factors. 2) On the upside, you will increase your overall credit limit, decrease your credit utilization, which ultimately improves your credit score. Note that credit utilization accounts for 30% percent of your credit score. This is why you want to pay attention to this more than the age of your credit or opening new accounts.
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