Lets say I receive a new credit card with a $10,000 credit limit, would my score increase because of the new credit trade-line? or does it only increase with the payment history of that account? Like if my score was 680 before the card, would it be like 685-690 or something like after the new card???
The answer is YES it will increase AND decrease your credit score! It will increase it due to better debt to credit ratio while potentially decreasing it due to age of tradelines and hard inquiries. One of the best pieces of advice given on this board is not to worry about the credit score, but to remove negitive tradelines and add positive tradelines.
