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Credit Card Applications » Credit Card Questions » Other Questions » Early april I replied to an offer from capitalone and was approved for a $300 limit. My credit is...

Early april I replied to an offer from capitalone and was approved for a $300 limit. My credit is...

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Date:
May 13, 2007, 2:03 am
Early april I replied to an offer from capitalone and was approved for a $300 limit. My credit is poor. I just this week got another offer for the same type of card from capitalone, should I apply to get more available credit or is it to soon or impossible to get. By the way, I already spent $275 on the $300 but I will make timely payments. Thank You.
Answer:
Opening new credit lines is rather a bad idea if you want to improve your current credit score. The wish to get another loan to pay off the first one is natural, but we don't recommend you to solve the problem in such a way. If you want to build up the credit score you must try to avoid applying for new cards. The second important thing is to reduce your debt. Try not to spend the whole or the most part of your credit limit because it can influence your history in a bad way. Use your card lightly, pay all the bills on time, keep the balance as low as possible, check your reports from all three bureaus regularly and correct all mistakes in them immediately. If you follow these recommendations in time your score will be improved and you will have an opportunity to apply for a good card.
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