Would getting a third credit card and using it properly (not carrying a balance over to each month, no......?

late payments, etc) inprove my credit score? I have two credit cards, both with about 1800 dollars on them. I don't know my credit score but I know its not good by how little of a credit limit credit cards companies are willing to offer me. I've been late twice and I've been carrying that kind of balance for about 2 years now. I'm finally starting to pay them off, which should happen in approx. 2 1/2 to 3 years. If I get another credit card and only put 25 dollars a month on it, and ALWAYS pay the full balance off at the end of month and have no late payments etc. will that, and paying off my debt improve my credit score or just counter-act my other debt? HELP!!! Thank you!Would getting a third credit card and using it properly (not carrying a balance over to each month, no......?
Adding another card would reduce your credit score. It would increase your revolving credit availability, which is one of those ';bottom line'; numbers they look at when you apply for credit. Take the money you anticipate paying on a new card and apply it towards one of the other cards to pay it down. It seems that if it's going to take you 3 years to pay off $3600, you need to concentrate on increasing your income more than increasing your credit.Would getting a third credit card and using it properly (not carrying a balance over to each month, no......?
Hi,

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It would likely improve your score, for two reasons:



1) Increase your credit available, thereby decreasing your utilization ratio



2)Showing more ';on time'; payments.



However having a newer accoutn dings a little too....but if you're aiming ot have better credit in 2-3 years, this would be older by then.



You DO NOT have to carry a balance AT ALL on your new card in order to get the good payment credit. So get the new card but dont use it at all, or transfer a small balance over from your other card. There's no need to use it an incur more debt, even $25 a month worth.
As long as you keep paying off that third card's balance, every month, you will not be increasing your debt to income ratio. A bad debt to income ratio is bad.



However, if you get approved for that third credit card, it COULD help your credit score by a bit, since the card represents some increased borrowing power. UNUSED borrowing power is good.
Hi,

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