2 secured credit cards better than 1?

Question

I'm a new resident building up my cradit from zero. I applied for a 500$ secured card from Bank of America, now after doing some research, I think it should've been 1000$. Can I add to the existing card or set up a new one with the same bank? Or is it better to do it online from a different company? I'm not planning to take a loan or store cards.

Answer 1

As long as you keep your utilization low, the limit won't matter much. Let's say you keep that balance at or near $0. The utilization is 0% whether the limit is $500 or $1,000. If you see yourself using it, however, then you might want to increase it.