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credhelp

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is it worth getting a secured card if i have a unsecured card
hello forgive my question, but will it help build my credit much if i get a secured cc when i already have a unsecured? At the moment i am just looking to build credit higher in anticipation for the future, thank you for reading.

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If you use it responsibly, yes it will help you build your score. However you need to make sure you're also using your unsecured card responsibly as well. If you're just credit building, keep your utilization at or below 10% for BOTH cards and always pay at least the minimum, ON TIME. It may lower your score to get the new card temporarily for a month or two for two reasons. 1. The inquiry to get the secured card. 2. The lowering of your average age of accounts. However in the LONG run, having two lines of credit with a history of on time payments will help you. 

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credhelp

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Thank you very much, that was what i was thinking but wanted to be  sure before i sent money for a secured card.

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As I said, in the short term your score may drop for a month. This would be because of the inquiry, and because of your average age of accounts becoming shorter. But long term, you'll have more available credit (with hopefully the same utilization ratio of less than 20%) and double the on time payments. It's a win for the long run. Best of luck.

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