With credit drying up, should I take advantage of promotional credit card offers?
It's true that credit may be harder to obtain these days as many financial institutions are re-evaluating how they extent credit. Such changes in lending practices can be seen in the form of higher credit requirements to open accounts and lower credit limits being offered. That said, we don't recommend that you accept promotional credit card offers just because you are being offered them. Opening new accounts can indicate increased risk to lenders and can hurt your FICO® score. Every individual's situation is unique, but as a general rule, you should only apply for credit when you need it.
The Score That Matters®
The FICO Score is the standard credit score in the US, used in more than 90% of lending decisions.