Hello all,
I'll go ahead and say thanks for reading this. I definitely appreciate any sound advise you guys can give me. Here's a little background on my financial situatuion. I'm trying to build my credit from (eq 613, tr 609, ex 610) to greater heights. I looked at the simulator and it said if I paid down $11 of my $279 balance on my revolving accounts it would raise my score to 635.....well I actually paid the balance completely off in late March before I joined Myfico.com, so I again did the simulator to show a complete payoff and it only went up to 620. The other options to raise it would be to get a credit card, so this is what I did....unfortunately I got dooped into applying for a Credit One card, from this site completely thinking I was dealing with Capital One. Take this with a grain of salt, because I've only read the horror stories about this company. They approved me for the $300 limit, but the interest is crazy high. As mentioned, I thought this was Capital One, so when I found out who it truely was I got worried because of the reviews. I've not received the card yet as I did this last week. Well today I found my pre-approval letter from Capital One, so I went to their site, punched all the info in and got approved for a $750 credit limit with 0% on all purchases until Jan 2016. No brainer with all the fees and so forth that this is the much better of the two. My question is what do I do now? Do I keep them both? Do I only activate the Capital One card and not the Credit One? If opening both will help me out, then I'm fine with that as well. I'm extremely confident in my ability as to not use these to get things I can't afford, but as a tool to get me where I want to be. I'm only doing these steps to build my credit to get a good interest rate on a mortgage come later this year. Again, any and all sound advice is appreciated.
