I’m wondering if I need to take more credit out? Oldest line is ~8 years old. No late payments, I have like 4-5 active cards, paid off a car loan in 2023.
Discussion
We have a mortgage, and 3 credit cards no debt. Our percentage of credit usage is very low. I think each one of those cards has a $20k limit and rarely ever have $2k on it and mostly have less than $1k monthly. So I don't think you need more. Make sure you're limit to spending is good.
See I don’t have nearly that credit limit. I have requested more for my current cards like every 6 months or so but always very small increases. That’s why I feel like I need to open a new line and try to get the max amount limit I can?
Keeping low balances and higher limits is best. Have you thought about a heloc? I know rates suck now, but maybe get a heloc and use it just a little? Like take a small amount and pay it back pretty quickly as not to pay much in interest? Pay off your car or some other higher interest debt, then pay down the heloc quickly?