New credit cards? Do they help raise score?
If you have had bad credit in the past how much does it help to get two new ( within the last year ) unsecured credit cards? Does it raise a persons credit score just by getting the cards? How many cards should a person have? And yes, I know they need to be paid on time, that is not an issue now... But looking to improve my credit. Thank for the advice in advance. Also is Capital One a good credit card company to have to raise scores?
Public Comments
- New credit cards won't raise your score. History does, so if you have credit cards already, I would suggest you to keep those and close these new ones. I suggest no more than 3 credit cards. They should be major credit cards, not store credit cards. Do not use all of your credit limit, try to use no more than 50% as well as your current debt, try to keep that a 30% of the credit limit. I don't ever recommend Capital One, I've heard stories from people and credit report companies. I've heard they report your high balance as your credit limit. That ends up stating that you used 100% of your limit. That damages your credit scores.
- Sorry, but I must disagree with the first poster for several reasons, first I have been through this myself and raised my score over 150-points in a year using 2 new credit cards for every day things, never exceeding 30% of my credit limit in any given month and paying them off in full every month before the due date. Second I have a Capitol One credit card and they do report your credit limit correctly.
