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so what would be the chances of getting another one? Would they not be willing to give me one because I just got one? Or is each inquiry independent of each other?
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simonykim
1 year ago
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STOP! You just "got" a new credit card, so you're already on the right track. Don't fall for the credit card trap so many of us fell into and still digging our way out of... looking for the next best card!!! Keep this one, it's your first tradeline. Pay often and pay on-time, even overpay. Whatever your credit line is, always minus $100 and consider that as your new credit limit to ensure you will never go over your actual limit. You will begin to receive offers in the mail to allow you to compare and play one company against another to get the best deal rather than you running to each and begging for their card (which they'll rip you off since they know you're desperate). Chill out with the inquiries, it will hurt your credit report for 2 years.
JayRizzo 1 year ago
It's actually not my first credit card. I have another credit card. I'm thinking that I should just apply for more credit cards now and just take a small hit on my credit. Although it's not going to be good right now, in the long run, it'll be better. I'll have lower utilization because of the increased amount of credit available, eventually my average age of credit will be higher, and I'll have a greater number of loans. I'm not going to fall into this "trap" so don't worry. The question was more about whether or not I would be able to get another one from the same bank. I feel like they wouldn't want to issue more than one credit card to the same person within a few months.
simonykim 1 year ago
Unless it's Capital One, who encourage it's members to apply for multiple cards aka "The Trap", most banks only allow one, maybe, two cards. But, it depends on how you're handling the first and if you've used all of it's full potential like... it's max is only $1000 because it's a starter card and you're looking for a more prestigious upgraded card. Also, "YES" you are about to fall for the trap because if your rationale to get another card is to balance utilization with more credit... that's a warning sign! Just pay down the balance you already have with that card. Read others that used to think the same way... "it will be better in the long run...". It is never better in the long run because something "always" goes wrong with that plan. It's Murphy's Law!!!
JayRizzo 1 year ago
Not if I don't plan on using it. I don't even have a balance on my other card... You keep assuming I'm an idiot that's going to max out all my credit cards lol
simonykim 1 year ago
Dude take your credit card out of your wallet and cut it up. Credit Cards are the dumbest way of spending money. Get rid of it.
smokybob63 1 year ago
What's your hurry to get more credit cards? I don't think it will help you to have a wallet full of cards, whether you use them or not. It's not how many cards you have, it's how you use them that affects your credit. And while you say you're not going to fall into the trap, trust me, lots of people say the same thing. And there are some creditors that will look at your amount of available credit and think, "Why so many?" You don't want that. If you handle your current credit card(s) responsibly, they will most likely raise your limit, which will accomplish the same thing without hurting your score.
Gamma22 1 year ago
I to have recently opened a few new credit cards for the same reason and I also have a 0 balance on my other ones. It has increased my credit score dramatically and I now have received preapprovals from discover. I applied and was given a 4000 credit line with no annual fee and 0 apr. I did wait at least two months and received a second cap. one with a higher limit. . I recieved a card and two weeks later I received my discover. I dont have many inq and I waited and used the stimulator. When it said my score would rise, I applied. My credit is better than ever and my debt is 500.00 out of thousands.
traceyfry 1 year ago