Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
Re: Is it worth opening up a couple lines of credit now?



I agree that a 2nd CC would help but your FICO score would not increase that much. The scores offered by CreditKarma are not FICO scores. Ignore their scores.


If I had what you had, I'd wait until the other is 6 months old before applying for one more. Your odds will dramatically improve. If you only have this one CC, you don't have a FICO score yet and the odds of being denied are higher before it turns 6 months.


Don't apply for a card to carry balances on it. That can be dangerous. In other words, if you are looking to buy stuff at these stores, stick with cash if you don't have a store card by then. You'll find yourself wanting to apply for more store cards for the sake of ringing up balances on them. 


For best results per FICO, pay all cards to $0 except one and get the one under 9% util. 30% util will ding you quite a bit.