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Question By
CarlyHorse

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New line of credit
So I already have one line of credit open and just closed one. The source is a store card and I have a high balance on it that I am planning on paying off in the next month. I plan on keeping this line of credit open but am trying to figure out what the best option is for opening up another line of credit. A few factors that I am having to consider is this:
1. I will be moving out of the state in October and will only be away for about 6 months to a year.

2. I want to increase my credit score. It's at 633 right now (horrible, I know)

3. I've had the same job for almost 2 years now and it will be transferable when I move. I am planning on getting full time when I move though.

4. When I return from my travels, i will need to purchase a car and rent out a place to live.

These are just the big things that I know will be effected when considering my credit. I understand *** credit works but I just hate dealing with it and the politics of it all. I would just like some serious opinions about the best kind of credit to "get in to" right now seeing that I only have one line open right now. THANKS!!!

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Top Contributor
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If you don't have any open credit cards, I would start there.  Visit www.bankrate.com or creditcards.org for comprehensive overview of cards available.  You score will dip once the new card is opened, but will go up as you make monthly on time payments.  You don't have to carry a balance on the card, just use it once a month for dinner or groceries or something and pay it right off.  Your score really isn't that bad, if you can qualify for an unsecured card, try that first.  If you don't qualify for that, then go with a secured card until your score improves.  Also, if you know anyone with good credit willing to put you as an authorized user on their credit card account, you'll get their good credit history instantly added to your report.  You don't need to have the card, use it or even know the card number (in case someone is worried you may run it up).  Best of luck to you!

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