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Laker04

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Can I apply for a new credit card if I already have a maxed out card I am paying down?
I would like to have a low interest credit card to use while paying off a maxed out card. Can I do this? My credit score is 630. I have a mortgage and other loan . I tried to get a Discover card but was turned down because of the other maxed out card. This put a "hard inquire" on my credit score. I don't want to attempt another application and put another strike on my credit score if turned down. What should I do? I need a credit card to use sparingly while paying the other one down.

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There's nothing preventing you from applying for as many accounts as you please, so to answer your question, yes, you can apply for a new credit card while paying down a maxed-out card. However, as you noted, this will put a hard inquiry on your reports and, at least temporarily, drive your scores down.

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Because of your low credit score, I'm GUESSING that most, if not all, applications will result in denials. So you have to weigh the pros and cons. Is it worth driving your scores down for the small chance that you might get approved for a card? I don't know. That's something you have to decide.

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