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    how long should you wait after being turned down for a credit card to apply for another one?

    If you've been turned down by one company, how long should you wait before trying to apply for a card with a diffrent company. I tryed about 2 weeks ago to apply for a Capital One card and got turned down, but I got offered to apply for a secured card. I found a secured card with my bank, Wells Fargo, and want to apply but im afraid ill get turned down because of the Capital One application I made 2 weeks ago. Will this affect it or am I safe to apply for the secured card?
    a few seconds ago 12 Answers

    Best Answer

    Chosen by Asker
    Since you already bank with Wells Fargo, getting the secured card shouldn't be a problem, just don't apply for credit for a while after that. Each time that you apply for credit regardless of whether you're approved or not, you lose anywhere between 3-5 points. With a secured card, your chances for getting denied are far lower. My suggestion to you would be once you get the secured card, build the limit as high as you possibly can during the 12 months that it's secured. I would only make SMALL purchases ($20/max) and pay that off on time every month. This way, you show activity, without a high balance. It's not about how much you charge that builds credit, it's how well you pay on time every month. And remember, once the card converts to a regular card, you get the deposit back. My suggestion would be to start up an emergency fund with it. Good luck!
    a few seconds ago

    Other Answers

    • It doesn't matter... A secured CC means you have to have money in a savings account and that amount is what you get on your credit card to spend, so in case you don't make the payment they will get their money. An unsecured CC like the one you got turned down for, they did a credit check on you and didn't feel you were worth the risk. A secured cc is good way to start if you have bad credit or no credit. Just be sure to look over the fees and stuff they charge... READ THE FINE PRINT before you sign anything.

      by MissDiscipline - 9 hours ago

    • you can get a secured card any time you put money into a account to cover the card and you can open them all day long

      by Grandpa - 9 hours ago

    • With a secured credit card you make a security deposit and that becomes your line of credit. So I would go ahead and apply for that one because the chances are higher that you will be approved for that. With unsecured credit cards, I would generally wait at least 3 months before trying to apply for another one. You don't want too many in a short period of time as that can affect your FICO score.

      by CrackBerry Addict - 9 hours ago

    • As explained- you cannot get denied a secured credit card, as you pay in advance what your credit line will be. When I did not have credit, I got a secured cc from Bank of America and a secured cc from Capital one. I paid 500 Dollars with Capital One and received a credit of 500 Dollars. Now, Capital One was great- cause they raised my credit limit to 750 Dollars after 3 month already. So I would establish credit fast. I applied for an american express- and was denied. I applied for the same American Express 6 month later and got approved... It obviously depends on your situation. I was a new resident in the US with no credit, and it took me 1 1/2 years to have 3 credit cards now.

      by Andrea K - 9 hours ago

    • if it has been 2 weeks give it 2 more and then try if you bank with the company it is easyer to get one form them. I would alway wait 1 month because every time you apply it makes you credit score go down. I hope that helps you good luck.

      by sunshine - 9 hours ago

    • If you were turned down for a credit card from one company you will get turned down for the next. You need to pull your credit reports from Trans Union, Experian and Equifax and see what's going on in your credit world! http://friends.truecredit.com/r/26367c62266e102b991c Click this link above to get your credit reports. If your credit scores are low you have to clean up the negative items on your file and possibly start with a secured credit card. If you need help, call urbancredit at 1-888-633-3317 !

      by UrbanCredit.net - 9 hours ago

    • i think your suppose to wait 3-6 mo

      by anniegirl - 9 hours ago

    • I'd just keep trying. sooner or later one of them is going to say yes!

      by referee - 9 hours ago

    • every time you apply for one of those credit cards you are lowering your credit score making it harder and harder to get approved for one.

      by kelly - 9 hours ago

    • Wait at least four minutes.

      by W - 9 hours ago

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