hi there,,, currently i only own 2 credit card. one is from bank o america visa and other from citi bank master card. its has been now almost 3 years i opened my first bank account with the bank of america and had my first visa card of $700 credit limit. i opened my second credit card account before 6 months from citi bank and got a credit limit of $6000. i use my credit card all the time and never missed any of my payments and rather my credit cards always has a negative balance as i kept on paying extra. by requesting, bank of america raised my visa credit card limit to $2500. i checked my credit score a week back for the first time from EXPARIAN and it was 783. my credit score raised to 783 in 3 years. but i currently dont own any mortgage or any loan under my name. i often get credit offers by mail but never applied any. i am planning to get a car on a loan of $25000. am i going to have problem getting the loan. is it the right time to apply for better credit card? thank you.
2007-06-27 18:39:43 · 3 answers · asked by smarterchild_usa 1 in Business & Finance ➔ Credit
783 is a decent score even with a limited credit history.
If you are planning on getting a car loan within the next 6 to 8 months, now is not the time to apply for credit cards.
Applying for cards right now will hurt more than help even with the limited credit history you have.
The first thing that will hurt will be the inquiries from applying for credit cards.
The second thing that will hurt would be the "new account" if you are approved for a card.
2007-06-27 20:57:31 · answer #1 · answered by echo 7 · 0⤊ 1⤋
no..
stick with the current arrangement u have.
thats just gonna mean more spending and hence
more depts and bills!
2007-06-28 01:48:21 · answer #2 · answered by babes28 2 · 1⤊ 0⤋
dude you're weird
2007-06-28 01:48:35 · answer #3 · answered by idono 2 · 2⤊ 2⤋