how long before you can start applying for other credit cards if you barley got one a month ago?

Question

I want to get another credit card from like best buy are some where and I barley got mine like a month ago, I paid it off and i want to know how long i have to wait before i get to "build my credit" with that?

Answer 1

Don't open new cards to build up your credit. Use the card you have and pay it off in full each month. That is how you can build up your credit score. If you have too much available credit, that can be a bad thing. Stick to one main card and go with that!

Answer 2

If you are trying to build credit I would wait a while. You can build credit more effectively by using the one card you have. Be very careful to stay below 50% of your limit because that will hurt you and pay it off each month. I would stay away from department store cards like Best Buy because they usually have a ridiculous interst rate.

I personally waited a year to get a second card. I believe having too many credit requests within 6 months hurts your score. My actually went down a little when I got a car loan and then applied to a mortgage loan because the car loan was too new. Don't forgot to get your free credit report each year. I hope this helps.

Answer 3

first of all... try and stay away from credit cards... building credit is a good thing, but temptation in using them is another.

Avoid "shopping for credit." Each time you apply for a loan or credit card, an inquiry from that lender will be reflected on your credit report. Too many inquiries can signal to a potential lender that you're a risky customer.


If your application for credit is denied, you're entitled to a free credit report. The denial letter you receive should list the credit bureau used. Contact that company for the copy of your credit report.

If you don't understand the report, contact the credit bureau or your local consumer credit counselor.
Setting up an automatic payment plan with your credit card company can help ensure that you never miss your minimum credit card payment.

If you never use credit of any kind, it doesn't mean that you'll have a great credit history. Most lenders prefer to see a history of credit and debt payment.

Answer 4

Credit scores are tricky. You build credit by using your card and making at least your monthly payments on time. You don't want to run your card over 50%. Department store credit cards are not the best way to strengthen your score. Keeping cards open for a longer period of time helps too, after 3 years it looks good on your credit (shows that you can manage it for a significant period of time.) You just got your first credit card? Don't close it! I would wait at least 6 months before applying for other cards. Go to www.experian.com, it is one of the major credit reporting agencies. It should give you some tips.

Answer 5

Never ever get a "store card" always get a visa or master or discover or American express they are accepted almost everywhere (even in the stores) and it is better to build up the credit with one company if you are just starting out. The stores will jack up the instrest rates and take more of your money.
The stores pray on young people who want stuff and don't want to wait for the stuff and might not be able to pay back the money for the stuff for a long time. The longer you take to pay the more money they make off of you!!

Answer 6

Whoa!! Stay AWAY from store credit cards. Take a look at the interest rate on them. They will sock it to you with late fees.

Trust me on this one...if you are trying to build up credit, your best bet is to charge only what you can repay each month. For instance, set aside the amount of money you charge on the credit card by placing that amount in a saving account. Then when the bill arrives, use that money to pay it off.

The problem is that if you take out more than one credit card, eventually you will get into the credit card trap. Which means that you won't be building up your credit rating, you will be building up your credit card payments (and interest charges) each month.

Bad idea to take out additional credit cards, because if you get them, you will be more likely to be tempted to spend above what you can pay off.

Answer 7

If you barely got this card a month ago, used it, and paid it off you are on your way to biulding credit. As far as a time limit on applying for another I don't think there is one, however, I should warn you credit cards can cause major trouble if you get too many and abuse them. They can also give you terrible credit. It all depends on you as to the type of credit history you want.

Answer 8

the best way is not to get one at all. If you have a universal credit card like VISA, AE, or Master Card - that's all you need.
Having too many credit cards sets you up for a BAD credit rating because it's too tempting to over use them.
If you are able to manage one credit card and pay it off every month, your credit rating will be fine.

If you insist, however - and since you already have one - it should be very easy to get another one right away.

Answer 9

id wait 3 or 4 months so it will show on your credit report if you are getting credit cards makes sure you have a steady way to pay them off dont buy things that you cant afford I know it sounds stupid but if you want to improve your credit dont get credit you cant afford it the credit beareus dont want you to have more then 2 or 3 credit cards it makes you look irresponsible

Answer 10

you can apply for as many credit cards as you'd like as often as you'd like. It's up to the credit company whether they accept you or not. But only apply for a credit card when you think you will be approved. And don't apply for too many.