Is It Time to apply for New Cards

[Anonymous]

I've recently got an autoloan for a new car(which hasnt appeared on my report yet) and other than that my file is pretty thin, I have a cap1 card with $1000 limit and one with $500 limit  and 4 current Student loans and one Charge Off from discover(trying to get this off now). My Score are TU651 EQ628 EX627

Is it time to apply for new card with a higher limit? would I even be approved for a limit higher than $1000 with my scores and thin file and if so what would be some reccomendation to apply for, or should I just wait and try to continue to build my scores.

[Anonymous]

I would focus on cleaning up things more until you're sure they won't budge.

Adding a card or two though will probably give you a better foundation to build off of down the road.

Mid 6's won't yield much for approvals with good terms and CL's though.  Feel free to provide more info though if you want to go down the rabbit hole and pick some potential targets.

[Anonymous]

How old are the cards you have now?

[Anonymous]

 About a year for 1 and 6 months for the other

[Anonymous]

Let that second card reach a year and work on your files in the meantime. Having your youngest account hit a year can be worth as much as 20 points on a thin profile. That plus either removal or aging of your derogs and overall aging of your profile are nothing but good for your scores.

[Meanmchine]

Try the Amex prequal site

Good luck

[Anonymous]

try getting rid of that bad mark and let your auto-loan report a while to raise your score up to the 700 range, then you should have no problem to app an amex. that will for sure get you a good limit.

if you add another card now, don't even worry about it being a low limit, you would just do it to try building up your score faster since having 3 cards is optimal. i suggest the pp 2% mastercard. but with so many open loans you probably don't even need another card. it can hold your scores down a bit if you are apping a lot of accounts too quickly and you already have a derog as it is.