Another CC to improve # of acct w balance?

[jonmyers]

So, I've been thinking about getting another CC because I'm concerned about having too many “accounts with balances” due to having only a few active accounts. Is this a valid concern given the situation:

I only have three active accounts, two CCs and one mortgage.

I have two CCs, BoA and Disc, each with $7500 limit. The CCs are PIF every month. Average monthly usage results in approx 15-20% util. Before posting, I can pay off one and pay down the other below 10% to maximize my score, but even then, I have two of my three accounts carrying a balance.

AAoA: My cards are 12yo and 13yo, and my mortgage is 2.5 yo, giving me an age of about 9 yrs.

CRA: EQ is completely clean with one inquiry (cable company) that will drop off in June. TU has two baddies that should drop off their 48 mo history by Aug., and two inqs (both last year from Disc for CLI, latest one is 7.11). EX has three baddies (that may not drop for another 5 yrs) and only soft inq showing.

Here's the kicker: I'm half way through a 5/1 var arm construction mortgage that I'd like to refi into a 30yr fixed this year at a low rate.

If I get another CC (prob. Chase Freedom), I can work the payments so I have 2 out of 4 accounts showing a balance. This will bring my AAoA down to about 7. It will ding me once or thrice for inqs, but if I apply now, I can wait 6 mo. to refi, which I'll probably do anyway to allow the baddies to fall off my TU.

I ONLY reason to get another card is to improve my # of accounts showing balances. But is this really a concern?

I appreciate your thoughts on the matter.

[tcbofade]

It would appear that you do not NEED another account...

I wouldn't do it.  JMHO.

[atarvuzdar]

How's your score? And usually reports will tell you something like the top 4 things negatively affecting your score--is # of accounts with balances at #1 on that list, or is it #3 or #4? Sometimes there is so little to fault on a report that things that are barely affecting your score will be listed. If your score is pretty good, I would say you shouldn't mess with something that's already working.

Good luck!

[jeffery581]

IMO I would wait for the refi. 

[FrugalRican]

If you are going to refi, I'd definitely wait for that.

I understand you want another CC, but if you've gotten this far with just two cards and already have a mortgage, I don't see why you really "need" another CC.

[Wolf3]

Not a concern, either now or in the future. 

[jonmyers]

Thanks, guys.

"To many accounts with balances" was something I used to see on every denial for CLI.  Last year everything changed, tho, as my baddies from college dropped off and my mortgage started reporting in 2010.

It's funny, because I definitly have some OCD tendencies.  Even though I've come a long way the last couple of years, I still have this nagging thought that I *need* another account to fill out my "debt portfolio."  Not only because of the previous denials, but because my banker told me when the mortgage changed from 'interest only' to 'interest/principle' in May of 2010 that I the loan I got in 2009 wouldn't have been available to me because the bank was requiring three active tradelines of debt for approval (my mortgage IS my third line of debt!). 

I'll put it out of my mind.