New Credit card or increase limit on the only card???

[Anonymous]

Any help will be appreciated!

Hi there,

I moved to US about one year ago. I am a resident (trainee doctor). I got a college rewards credit card from key bank (that I have a checking account with) about one year ago and I have been using it judiciously (Never had a credit utilization of more than 40% and always paid on time). 

I checked my credit score 3 months ago and the experian score was 715 (I did not check transunion and equifax). I had 4 hard pulls over last 1 year (one for credit card, 2 for cell phone contracts, and one for car loan), all were approved. Of these, 2 checks were pretty recent i.e. only a month old. 

Now, 2 weeks ago I got this mailer, offering me a pre-approved offer for CHASE freedom. Till date I have been ignoring multiple pre-approved offers from Capital One, American Express, CHASE SLATE. But I fell for this one and I applied. But unfortunately I was denied. I called Chase and asked for reconsideration, and was denied again. Reason "Not enough credit accounts opened long enough to establish enough credit history". 

Now I am wondering if I should apply for another credit card or increase credit limit on the current student credit card (which has a credit limit of only 300$). Both would involve another hard pull (already there are 5 hard pulls over last one year). Please advise. If you think I should apply for a new card, the which one should I apply for, having just one year of credit history? 

Any help will be appreciated!

[Wolf3]

I think it is time for a 2nd card to build more history.  

Check out Capital One -

Cash Rewards for Newcomers -

Get the card designed to help those new to the U.S. establish credit

[vish1]

One credit card account is any day too little.

Cap1 as Wolf3 said is one option. Other option is to take a store card. The advantage of a store card like GEMB ones is that their limits grow to like 1500 very quick and helps your util a lot especially for beginners with low to medium CLs.

[Wolf3]

Store card is good idea also.   Pick one from where you shop.    Show some use.

You could try both store and major card.

[Anonymous]

Try citi, they are easy to get with your score. and than may be 6 - 12 months later hit a big one.