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
Gege13

0 Contributions
0 People Helped
Should I add a credit card?
I am trying to rebuild my credit, I have a card an the limit is $500, I make all my payments on time. I was offered a card with a limit of $1,500, wanted to know should I take the offer. I will make my payments on time with this one as well; as I said I'm trying to rebuild my credit. What should I do?

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
2021 Contributions
3849 People Helped

Educate your self.

You do want to open new accounts. 

Go over the offer completely. Be sure you know what the interest rate is.  Also know what the annual fee is if there is one.  An annual fee is not always a bad thing when you're building credit. But you generally want to avoid them. It just added expense. 

As a rule of thumb you'd like to eventually build your available credit limits up equal to a years income. You want  to do that over a period of time. If you keep opening new account over a short period of time you will only get low limit cards. Or you will start being denied. This you want to avoid. 

Read up on the blogs here about what it takes to manage good credit. A little education goes a long way in this game! 

 Good luck. 

Result 1-1 of 1Results 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.