My problem is lack of a credit history. I just got my first Platinum card last month.(Have two department store card-one new the other a year old) According to Equifax's score simulator I really needed a good card to boost my score. I don't know if it will be posted to them but I was wondering if one is enough. It has a 6000 dollar credit limit. Should I apply for one more with a good limit or will that impact my score in the other direction for any number of reasons like inquirys and applying for too much credit in a short period of time? thanks
Anew acct reporting will, in most cases, cause your score to take a dip for a few months. As it ages, your score will go back up. Within 3-6 months it should be back to or above where you started. An inquiry by itself may cost you a few points. The higher your scores are at the time, the less of an impact these incidents will cause.
