Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
ruks79

4 Contributions
71 People Helped
Building My Credit
I just started taking my credit seriously. About 2 years ago, I opened a secure credit card. I've kept this card in great standing. My score has risen from 553 to 637. I qualify for a VA loan now which is great, but I would like to get my score higher. I try to only use between 1-9% every month and pay it off at soon as it reports. Should I accept a new credit card offer or just continue to pay on the one I have?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
32 Contributions
29 People Helped

Part of building your credit is diversifying and growing your credit portfolio. If you only have a secured credit card, you're still in the early stages of building your credit. It would probably do some good to start getting into the world of unsecured credit in an smart way. You can start with one card or you can apply for a couple with great welcome bonuses; just make sure you do whatevers in your financial interest. Use them and pay them off if you get accepted. This will grow the number of accounts you have which is a factor, and when banks are willing to take a risk by extending you credit that's a plus on your score as well.

one caveat - when you do apply for a card, you will get a hard pull on your credit which will lower you score a couple points per application on one or several of the credit bureaus. but you'll get those points back in 6-9 weeks. good luck

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.