Should You Get a New Credit Card?
Your Credit Score Has Plateaued
Signing up for one or two cards as a young adult can do wonders for building your credit, but your score should change over
time, and if itʼs been hovering around the same number for a few years, it might be smart to sign up for a new card. “Adding
an additional card can actually improve your credit—as long as youʼre diligent about making the monthly payments,” says Bryan
Zschiesche, a CFP® with Financial Synergies Asset Management in Houston. “But donʼt cancel your old card(s), especially if
you have always paid on time. The longer youʼve had a card in good standing, the more it will boost your score.”
If you do get a new card, just keep in mind that you may not see an immediate improvement in your credit score. Rather, you'll notice that three-digit number slowly climb if you consistently make payments over the course of several months, and keep your overall credit utilization in check.