New credit card

[Anonymous]

Hello! I am rebuilding my credit. I'm at a 640 fico right now. I've come a long way. Right now I have just been using a secured capitol one card. Im wondering if it would affect me negatively if I applied for second card. If you know the answer to this plz let me know. Thank u!!

[Anonymous]

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@Anonymous wrote:
Hello! I am rebuilding my credit. I'm at a 640 fico right now. I've come a long way. Right now I have just been using a secured capitol one card. Im wondering if it would affect me negatively if I applied for second card. If you know the answer to this plz let me know. Thank u!!

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We would need more info to give much useful info. What is your TU score? What negatives do you have on your reports? How long have you had the sec. cc? Do you have any other loans or leases?

Getting credit will have a negative impact on any creditor with a very thin file because the INQ's will show up before any open accts threreby dropping your score but that just goes with the territory.

[Anonymous]

Yes, it will have an effect on your credit score. How much, depends on your history

[SouthJamaica]

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@Anonymous wrote:
Hello! I am rebuilding my credit. I'm at a 640 fico right now. I've come a long way. Right now I have just been using a secured capitol one card. Im wondering if it would affect me negatively if I applied for second card. If you know the answer to this plz let me know. Thank u!!

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Temporarily maybe, but within a month or so you'll be back up and maybe higher.

I think you should apply for the Barclay Rewards and the Capital One Platinum in that order, on the same day. And then garden for 7 months.

[mikelo22]

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@Anonymous wrote:
Hello! I am rebuilding my credit. I'm at a 640 fico right now. I've come a long way. Right now I have just been using a secured capitol one card. Im wondering if it would affect me negatively if I applied for second card. If you know the answer to this plz let me know. Thank u!!

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Your credit will take an initial hit after applying for a new card.  However, it's only temporary and your score will recover after a couple months.  We'd need more info before giving you solid answers, but getting a second card could be helpful in building your credit profile and by showing you are a responsible borrower (assuming you are paying your bills on time with your current CapitalOne card).