Credit Card Center Advertiser Disclosure†
04-01-2013 07:12 PM
Hi guys, after very good advice from the forum members, I was approved for a Capital 1 Secured Mastercard. I am new to USA and building credit. I just received an email saying my new card is on its way.
I only have that one card and was told to hang on to it at least for 6 months which I will do as well as making $500 deposits every month to increase CL, paying in full and having less than 9% utilization. My question is, should I apply for another card to have 2 cards in order to improve my score or should I play it safe for 6 months? I was on my way to apply for a CU card but decided to follow advice given in this forum but I would like to confirm that I did the right thing.
Thinking ahead and following a suggestion from a member of the forum I am thinking about applying for an AMEX charge card once at least 6 to 8 months have passed.
04-01-2013 07:21 PM
Congrats on the new card!
Personally, I'd probably wait a few months before applying for another one, but there are more experienced members here who might be able to give better judgment than mine.
04-01-2013 07:23 PM
You should apply for another card. Try a store card, those are easy to get
04-01-2013 08:01 PM
You should stick with the original plan for best results
04-01-2013 08:08 PM
@Myjourney i have read almost all your posts on your blog. Good info. Thanks for sharing that! I plan to follow original plan and keep you guys updated.
I look forward to seeing great success from your future post which will include good cards,limits and outstanding scores
04-01-2013 08:12 PM - edited 04-01-2013 08:13 PM
Congrats. I started with this card april of 2012 with a $750 limit waited till feb 2013 to apply for unsecured card and was approved, then approved for discover card today. This is just to say that the card and the info from the people here can bring you to wonderful credit cards and limits with due time
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.