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mjf831

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Too soon to apply for a new credit card?
I have a 691 credit score. It has been a year since I have filed for bankruptcy. Last month I applied for a Capitol One credit card that credit Karma said I had a good chance of getting. I got a $2000 limit, but an annual fee and a 24% interest rate. I would really like to get a lower interest card and think that my score is high enough. My question, is it too soon to apply for another card? Will they turn it down if they see that I applied right after I got the last one? I don't want to get denied and have a ding on my report, but not want to pay a ton in interest either. I was previously told from my bank that I should maintain no more than 30% balance on your card to improve your score, so that is the balance I keep on it. Just feel like I am wasting money on interest. Anybody else been in a similar situation?

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Given your score of 691 24% isn't uncommon...and you don't pay interest on purchases if you pay the card in full every time the statement comes in....thats how the game is played and 30% isn't the magic number the magic number is 10% of your credit limit but most do 20% and the difference in points betwween 10% and 20% is only @ 10 points.........I have a score of 769 and I still get mid level interest rates at 16% for 1 card and 20.99% for another but do I care nope because I pay in full every month and get cash rewards they could charge me 1000% interest and it wouldn't matter PAY IN FULL EVERY MONTH SO YOU DON'T PAY INTEREST  CARRYING A BALANCE IS JUST MAKING MONEY FOR THE CREDIT CARD COMPANY....as far as getting another card Cap1 is the easiest place to go and since you just got one a month go you can't get a 2nd one with them for atleast 6 months and your chances of getting approved by anyone else is slim to none given only 1 month history and low score just wait 6 months apply for a 2nd Cap1 card they are a GREAT company 2 out of 3 of my cards are with them my very first card and a quicksilver card love the customer service they give 

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You'll get a ding on your report any time you apply for new credit, whether you're approved or not.  I think getting another card is a good idea, but don't pay for fees.  Visit www.creditcards.org or www.bankrate.com to review all cards at one place.  I prefer Amex Blue, no annual fee and you get points for everything.  I think my interest rate is 15.9% on that one.

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