topic Re: Should I get a second card? in Credit Card Applications

Should I get a second card?

NJ_Patriot — Mon, 04 Jul 2016 19:27:31 GMT

Hey all, so I just pulled my TU score. Have had a really bad credit past. Am currently still working on increasing my score. I paid off a ton of debts recently (2 months ago and showing updates on report) this is the first time I pulled my fico score. I usually have gone off credit Karam and credit wise scores. Which are currently showing much higher than my fico. Fico (606) and ck/cw (649).

Now I want to add a second credit card to my inventory. I have a secured cap one MC with a $200 cl. I keep the balance below 1/3 of my limit. I applied for the discover it card but was denie . Will probably recon tmrw btw. Should I bother trying to get a second card? If so, who should I go with that may have my chances overall better for approval?

Btw, cap one secured has been open since 10/2015. And remains in good standing.

Re: Should I get a second card?

RonM21 — Mon, 04 Jul 2016 23:52:20 GMT

Welcome to the forums!! Generally, at least a second card, and sometimes 3 helps push forward the rebuild process a bit faster. I.would recommend a secured card from another lender possibly. Also, you might even be able to get a QS1 from Cap1 at this point.

Re: Should I get a second card?

SouthJamaica — Tue, 05 Jul 2016 00:51:14 GMT

@NJ_Patriot wrote:
Hey all, so I just pulled my TU score. Have had a really bad credit past. Am currently still working on increasing my score. I paid off a ton of debts recently (2 months ago and showing updates on report) this is the first time I pulled my fico score. I usually have gone off credit Karam and credit wise scores. Which are currently showing much higher than my fico. Fico (606) and ck/cw (649).

Now I want to add a second credit card to my inventory. I have a secured cap one MC with a $200 cl. I keep the balance below 1/3 of my limit. I applied for the discover it card but was denie . Will probably recon tmrw btw. Should I bother trying to get a second card? If so, who should I go with that may have my chances overall better for approval?

Btw, cap one secured has been open since 10/2015. And remains in good standing.

I would check the Capital One prequalifications. If you're prequalified for Quicksilver go for it, if not go for Platinum.

Re: Should I get a second card?

NJ_Patriot — Tue, 05 Jul 2016 01:03:11 GMT

Thank you! I actually applied for the barclays rewards mastercard and got approved for a $500 cl. So I'll take some time and make use of it wisely! Im sincerely hoping to get myself up into the 700's by next year

Re: Should I get a second card?

SouthJamaica — Tue, 05 Jul 2016 01:11:06 GMT

@NJ_Patriot wrote:
Thank you! I actually applied for the barclays rewards mastercard and got approved for a $500 cl. So I'll take some time and make use of it wisely! Im sincerely hoping to get myself up into the 700's by next year

Great That's one of the most useful cards I have. And if you use it well, pay it down frequently, they will give you an auto CLI, probably at 6th statement cut.

Nice going.