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donaway37

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I have only 1 credit card, can i improve my credit score by adding another credit card?

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It might improve it further with some FICO models, but many models it may cause a score decrease for opening a new account, but here is the thing: in order to build and maintain good credit, short-term damage must occur. You need accounts open to build and maintain credit. The basic credit building tools are three credit cards and one installment loan that are reported to all three credit bureaus. All in all, you should probably do it regardless of what the short-term outcome may be.

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