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I’m trying to improve my credit rating which is 628. One of the problems is that I have no revolving credit. I’m thinking of getting a credit card with a low limit and low interest rate to improve it. If I get turned down it will it hurt my rating and is 628 good enough to get approved for a credit card?

2 Thoughts on Credit rating. Good enough to get approved for a credit card?
  1. Reply
    December 19, 2012 at 3:42 pm

    Forget the interest rate in your card.
    Let it be 50% if they want it to be.

    The best way to get top notch credit is to get a card but pay it in FULL each month the day you get it in the mail.
    You can achieve 800+ scores just by doing this.
    Carrying balances can destroy your credit – so forget APR rates.

  2. Reply
    Deidra C
    December 19, 2012 at 4:06 pm

    628 is a great credit score, compared to most. Getting any credit card will definitely have a high interest rate … they all do! Apply for one, charge under $ 100 to it, pay off the bill when it comes in … don’t pay the minimum. Keep doing this with purchases and if you don’t need the credit card, then close the account.

    The better you are at paying, the better your credit will be, but the more credit you have, the lower your credit score will become. Just do this to establish “revolving credit” . Don’t get yourself stuck in a payment that you can’t afford.

    Also … if you get turned down, I will be surprised. But if you do, it won’t bother your credit score at all …

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