After learning how credit utilization impacts one's credit score, I just raised the limit on 2 of my credit cards. I opened 2 cards last week in order to take advantage of cash back bonus deals.(cont)

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Hard pulls of credit will have some impact as A1 mentioned, but long term it will benefit more than the initial impact of those pulls

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Please keep in mind you will have two hard inquiries that will show for the last two years. This may negatively affect you for large sum borrowing.

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Good for the long term.

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Yes - as mentioned above this is good for the long term. The two short term impacts are (1) the hard pulls which typically have no impact after 12 months but stay on your report for 24 months and (2) this will lower your average age of accounts (AAoA) which again in the short term may drop you a few points but will be helpful in the long run If you keep the cards open.

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Will this negatively impact my credit score? I use my credit cards like debit and pay everything in full weekly.

Opening 2 new cards will have a negative impact because of the credit inquiries, although not that much

This will likely boost your credit score if you had a low limit.. doesn't hurt to let less than 10% go into billing cycle and pay off in full. Sometimes it's beneficial. But wait and see how this change impacts it and let it normalize and then make changes again.. easier to address where your gaps are that you can work on to improve further.

Right. May be counterproductive if you’re looking for a mortgage in the short term.

I'm not looking to take out any large sums at present but rather looking into building a foundation for graduate student loans and mortgages in the future-- perhaps 3-4 years down the line? Would the negative effect have passed by then?

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