Evelyn Boros, Credit Cards Moderator
@evelyn_boros
In order to pick the best second credit card, you must first check your credit score and narrow down your choices to cards you have a shot at qualifying for. Then, you must determine what your primary need is with your second credit card, such as 0% financing or rewards, and choose the best card that meets your needs.
Best Second Credit Card Options
How to Pick the Best Second Credit Card
- Check your credit score.
You can check your credit score for free on WalletHub any time. - Narrow down your options.
Only consider cards that are accessible with your current credit score. - Figure out how you want to use the card.
You might want to finance purchases with a 0% APR, earn rewards, or just continue to build credit with a $0 annual fee, for example. For most people, the best option is going to be a good rewards card with no annual fee. Ideally, you should be paying your bills in full each month and trying to minimize the cost of your second credit card in order to maximize savings. - Get pre-approved.
If possible, get pre-approval for a few cards you’re interested in that meet your financial needs. Pre-approval shows you which cards you’re likely (but not guaranteed) to get approved for. - Compare terms.
Of the cards you’ve selected and been pre-approved for, pick the one that offers the best value based on its fees, rewards, benefits and APRs.
Once you have your second credit card, there’s no need to get rid of your first credit card, as you’ll keep building credit with it even if you don’t use it. Plus, canceling a credit card can hurt your credit score by lowering the average age of your accounts and raising your overall credit utilization. You also might want to continue using your first credit card for certain purchases, depending on what rewards and benefits it offers.
On the other hand, if your first credit card has an expensive annual fee and you don’t use it enough to justify paying that fee, it is worth closing in that case.
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