I paid off 4 credit cards that were charged off in Aug. I have no revolving credit. Should I apply for a credit card or not to help score go up?
Yes........credit scores rise when you have a variety. Secured debts, cars, etc., only will keep your score down
It may improve it to a marginal history insofar as you have absolutely no available credit. However, any increase by virtue of available credit will be offset by the account lessening your overall history. I would probably go ahead and do it but, don't expect a significant scoring increase until the account reaches six months of age and beyond. If you could get a family member to add you to an existing account that would be better. This is particularly true if you just want a score increase rather than an actual account to use.
