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lizmendez

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Still farely new credit and not sure which new credit card to go for?
I have just one credit card with a $700 limit and was hoping to add a new credit card to help my credit history but I'm unsure of which one to go to. I have a credit score of 662 and with the credit score simulator my credit seems to possibly go up. I'm just nervous to pick a credit card, apply and then get denied.. help!

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Patience.

Sometimes it's not a good idea to try to add a credit card right away.  You can build your credit history with that one card and see if you end up getting credit line increases after a period of using the card and paying it.  Since you said it is fairly new credit, you don't have a history built yet, but you can with careful use of this card.  Try keeping your total usage at no more than 10-20% in a month (that's $70-140 for your current card) and pay the bill in full when the statement arrives.  Those percentages are the ideal credit usage limits to strive for, no matter what your credit limit is.  Try to never carry a balance over so you don't have to pay interest on your purchases.  Credit cards can be handy when you want to buy something on sale and don't currently have the cash.  Those temptations are out there and you must be careful.

Play it very cautious for a while as you learn more of the tricks of using credit wisely.  Then you can consider increasing your available credit.  It took me a while and I got some "hard knocks" in the process. 

Hope this helps.

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