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
masterbuilder75

0 Contributions
0 People Helped
I got one secured credit casrd is it advisable to obtain more ?

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
84 Contributions
46 People Helped
Most Helpful Response

If PIF, intereset rate irrelevant

Helpful to 1 out of 1 people

Why worry about interest rate on a card if you always pay in full and always on time?    You never pay any interest.  FICO does not use interest rate in its scoring. 

Top Contributor
784 Contributions
298 People Helped

Helpful to 1 out of 2 people

Why? I imagine your secured card comes with a high interest rate. A secured card generally means you have a less than stellar credit rating.  I think you need to concentrate on using no more than 30% of the card limit, make all payments on time and before finance charges kick in. Don't go further in debt. Over time the secured card company will raise your credit limit. 

Results 1-2 of 2Results 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.