Where should I open Credit card?
Asked by
netxm (
288
)
December 22nd, 2008
I got 610 credit score and have only 1 credit card from Capital one, AmEx didn’t give credit to me, should I try Discover or other bank?
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11 Answers
why do you think you should open one at all? If you already have one, why do you want/need another?
If it’s because the Capital One card is maxed out, you do NOT want another. Fix your lifestyle so that you can get out of debt, do not accumulate more!
Do not get another credit card. Work on improving your payment history with the one you have. Every time you apply for a credit card, it lowers your credit score even more.
Alfreda is right. The simple act of checking your credit lowers it.
When you have more credit, you lower your credit score.
Just focus on making all of your purchases on the card you have and pay it off at the end of every month.
I want another credit card, not because I don’t have money, but because want to improve credit score, on one credit bureau I have 706 and on another – 610 score, and there was tip “if you have at least two major credit cards… it shows for lenders… that you are good” or something like that…
Checking your credit score lowers it only temporarily (for a few months) but you shouldn’t you shouldn’t do a credit check ‘bombardment’ by applying to multiple credit outlets at the same time. If you must get a new card, apply for something and apply again in 3–4 months if you’re declined.
Another way to increase your credit score is to increase your existing limit but not carrying a balance on the extra credit. Total available credit, whether it be on one card or 5 cards is considered in a credit score.
But really though, this is not a good environment with which to seek out new lines of credit unless absolutely necessary. Continue to make payments payments in full (but absolutely the minimum payments) and your existing credit card’s limit will increase on it’s own.
I’m sorry this is a tad OT, but WHY does checking your credit score lower your credit?
That makes no sense to me. Shouldn’t people be encouraged to monitor their credit and make sure that it’s not too low/they are getting it up? Why is one penalized for checking the score?
Sorry if it’s a noobish question. ><
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