Credit One Second Card Offer

[hollym]

First time posting but I've been lurking for a month or so. Today I logged in to pay my credit one card and got an offer for a second card with a $1500 limit. I've had a $300 limit card with them for almost 2 years and until 5 months ago it sat at full capacity due to some health issues. 

Just wanted to share for those who may have been struggling with credit and may think they can't get better if they have run their current cards up to the max. You can!

[fbc200384]

@hollym what kind of offer did you receive/credit card? I have credit one and just received an CLI. Was the offer under the offers tab? 

[b0yinterrupted]

I know they serve a purpose for those who can't get approved for even a secured card, but if that 2nd card has an AF I wouldn't touch it. 

[difringe]

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@b0yinterrupted wrote:

I know they serve a purpose for those who can't get approved for even a secured card, but if that 2nd card has an AF I wouldn't touch it. 

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i second this btw. if you qualify for a second card, you should check around to see if you can get a different secured card without an annual fee, if you qualify to join navy federal they have a very good secured card that graduates. you could also check discover's pre-qualification link to try to get that one.

[hollym]

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@fbc200384 wrote:

@hollym what kind of offer did you receive/credit card? I have credit one and just received an CLI. Was the offer under the offers tab? 

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It was a popup when I logged in. 

[hollym]

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@b0yinterrupted wrote:

I know they serve a purpose for those who can't get approved for even a secured card, but if that 2nd card has an AF I wouldn't touch it. 

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It was a $39 fee, right now for me that's not a big deal. I'm still building my credit. 

[hollym]

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@difringe wrote:

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@b0yinterrupted wrote:

I know they serve a purpose for those who can't get approved for even a secured card, but if that 2nd card has an AF I wouldn't touch it. 

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i second this btw. if you qualify for a second card, you should check around to see if you can get a different secured card without an annual fee, if you qualify to join navy federal they have a very good secured card that graduates. you could also check discover's pre-qualification link to try to get that one.

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I already have a Discover from before I had my health issues. I don't want a secured card because I don't need one. I have a few credit cards already but due to health problems they have been at max for a few years. Right now I'm after higher limit cards not more cards and since this one didn't require a hit to my credit I'll take it. I may eventually close it, but right now it's helpful

As for Navy Federal, I don't qualify no one I know has an account. It sounds like a great option, but not everyone can join. 

[KJinNC]

My experience with Navy Federal has been less rosy than what I often see here, but that's a whole other story. You can join Navy Federal if, for example, either parent was in the National Guard at some point. Their requirements are not especially stringent.

As for the cards, you've got to do what you've got to do, but it's dangerous to get a card because you feel like you need to spend the credit limit and carry a balance (which is how I interpreted what you said - apologies if I misunderstood). The idea is to use the card and pay it off in full before paying interest. A secured card fits that philosophy better than a card with an annual fee and no rewards. A security deposit is money you get back eventually. An annual fee is money you don't get back. Again, you've got to do what you've got to do, just be careful about carrying balances. JMO!