speedemon90

So I applied for a BoA cash rewards card back in the beginning of september and I've had an amex card thats linked to my parents account back in high school (i dont know if this card affects me since its under my parents name).

Question is, when is a good time to get another credit card? Now I have self control and i'm not gonna go spend more money because i got another card, but having another card reduces my debt/ credit limit ration thus increasing my credit score, right?

So is it too soon to apply? Should I wait a year from the first card I applied for?

I want the amex blue everyday cash, i think it was, or chase freedom! But I dunno if i could get those cards haha.

Anachostic

I would say a year apart would be safe. You don't want to binge and get a bunch at once, because there's a hard inquiry on your report for each new account you open.

Now's a great time to start tracking your credit score with Credit Karma. You'll be able to see how getting credit cards affects your credit score, with hard inquiries showing in the results. And you're getting started pretty early, so you should be able to start a credit history.

Just as a note, hold on to that first CC as long as you can. It's the key to having a long credit history. It will affect your average age of accounts.

Good luck.

speedemon90

Thanks, yea i looked at my credit report this month since everyone gets three free reports. And remember how I said I have a amex on my parents name, apparently that cc is in my credit report and has given me a very long credit history. Longer than I've even had the card, it goes back to when my parents got it. Luckily my parents never had a mishap on that card because I think it would affect me as well.

Babnik

No, it should have no effect on your credit score, just pay them all off each month and your credit score will steadily increase regardless of how many cards you have.

I don't see why you need so many credit cards, I only got 2.

speedemon90

well technically i only have one, the other is in my parents name and i dont wanna be there forever. Plus as my credit score goes up (which means i have some waiting to do) I will get cards with better rewards