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Denied for Cap One Secured MC. Ok to apply for another, or another hard inquiry will affect score?
I was denied for a Cap One Secured MC and was thinking of applying for another secured card through another provider. Will another hard inquiry negatively affect my score? It's already a 501, I don't need it to go any lower. It would be the second hard inquiry in two years. Thank you!

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Check with a lender like OpenSky for a Secured card and do some research on other card providers that deal with bad credit or no credit. Two "hard inquiries" in two years is really nothing, while applying for another card will result in another score ding, it is necessary that you do in order to get a card to help building your credit. Don't give up hope and don't believe that you have to wait seven years to start building.

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Don't bother to apply for any other card with a CS that low.

With a CS that low you must have some really bad remarks or Late Payments, or Collections or all the above on your Credit Report.    You need to work on getting that taken care of first or wait the 7 years for it to fall off your Credit Report.

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