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bigscottlatock

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When can I get my second card?
My credit score was at 550 when I started and after paying off my debts and getting a secured card in two months my score has increased to 640. When I went to apply for a second secured card, the system advised me not to because I would probably get denied and the second inquiry so close to the last one would hurt my score. Okay, fair enough.
My question is how long should I wait before I try again?

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What "system" would tell you that?... generally, one secured card usualy is enough to build your credit, and by your score (whatever model is from) it is enough. Secured card is meant for short term, its usefulness usually lasts until you are able to obtain couple of unsecured cards. Of course it's different if that secured card do graduate to unsecured card later and have high growth potential likes of Discover and BoA's 99/500, then yeah keep them. If it's like CapOne? It doesn't ever graduate and you might get just one CLI then really no reason to keep them for long periods of time...  Don't open that second secured card, save that inquiry and score drop from new account for a unsecured card, and save you the hassle have the need to decide if and when you should close it down the road, as some would advocate kinda strongly not to close it, because blah blah... 

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