A reader asks…

I recently opened a new credit card and noticed that my fico score plumetted 50 points after doing so. How long will it take for credit score to get over the fact that I opened a new account and regain those 50 points?

A Reader Asks…

I was approved for a credit card with a limit of $1000. I have normal credit. I’m interested in starting a business, but I’ll need more money available to borrow. What would my limit be on one of those “pre-approved” credit cards with excessive interest rates that are available to everyone?