Question about AAoA and Gardening with 1 or 2 CC

Anonymous · ‎09-10-2017

I want to begin gardening when I pay off my Jared card and a year will past from a HP at the end of September. My plan is to app for 2 CC since I don't have any CC right now. My score on Fico is TU-671, Ex-654, Eq- 657. I'm worried about apping for 2 CC because my AAoA is currently at 4 yrs and 5 months. I plan to garden until early to mid 2019 where I plan to get an auto loan.

Knowing what my plan is, will apping for 2 CC do more damage than good? Or should I just app for 1 CC?

AverageJoesCredit · ‎09-11-2017

Sometimes apping together is agood plan so they age off together like pulling off a bandaid in one quick motion

. I think you are good to go if you want to app 2 cards. If Jared is your only card i definitely think you should go for a more usable general credit card. Good luck.

Gmood1 · ‎09-11-2017

The AAoA dip will be temporary. You have to start somewhere. If you don't have an installment loan. You should grab a secured shared loan as well. In six months your scores will be higher than they are now. With 3 revolving accounts and one installment account reporting, even with a lower AAoA. Mine is only 2.4 years presently.

Anonymous · ‎09-11-2017

My thinking is whether you app now or later you're AAoA is going to go down the same. Might as well get them now and be better off in the long run.

Anonymous · ‎09-11-2017

I do currently have student loans and they show as 8 accounts; 2 of which is 3 yrs old, 3 of which is 5 yrs old, and the last three is 6 yrs old.

Anonymous · ‎09-11-2017

@Anonymous wrote:
I do currently have student loans and they show as 8 accounts; 2 of which is 3 yrs old, 3 of which is 5 yrs old, and the last three is 6 yrs old.

Your scores appear to be lower... There must be something else holding down your score.

@Anonymous daughter, fresh out of school, had 4-5 student loans. Only one Cap1 @Anonymous. and AAoa 2.x years. Her score was somewhere 720-730 and she got 10,000 Amex last month.

Go ahead and apply for whatever cards you need. For car loans, they will look back last 6 mths, not years..

Anonymous · ‎09-11-2017

Yeah. I do have a paid off collection that has to run down the clock. 😢
I was thinking between a Chase Unlimited Freedom and possibly a AMEX or Chase Slate? [All three I prequalified for. ]
Amex is enticing for the 3x CLI.
Chase Slate for the 0% apr intro.
Cap 1 I was only prequalified for the QS1.