DROP a Credit Card to Increase Score?

[haulingthescoreup]

Sounds like you have a store card--good for you! I still can't find the original source that says that everyone should have one store or gas card, but it seems to be the conventional wisdom by now.

[Anonymous]

Maybe you should look into the BB store card when you get ready for your TV.  They just had 48 mos same as cash. I took em up on a dishwasher and Xmas at 18 mos same as. Just don't go over 90% on any one card, that's a max out and it will hurt you as badly as a collection.  the store and gas cards come into play with the mix of credit.  IF you can make yours ideal, go for it.

[Anonymous]

I have 3 credit cards 1. first premier limit $350 with $0 bal.  2.  Capital one limit $750 with $0 bal, and 3.  Wamu $3000 limit with $1700 bal.  I can't pay the wamu off yet should I just leave it alone and work on it?  Get anohter card to show more credit with less usage?  What is the best course of action my ficos are 573, 612, and 663.  Trying to get them as high as possible after my BK.

[stpn2me]

Never EVER max out your cards! I put $1000 on my BoA Visa with a $1500 limit. I lost 14 pts that day! I had the $1000 put back on and guess what? My score went back up 14 pts. That was a huge hit!

[Anonymous]

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pavetim wrote:

I have 3 credit cards 1. first premier limit $350 with $0 bal.  2.  Capital one limit $750 with $0 bal, and 3.  Wamu $3000 limit with $1700 bal.  I can't pay the wamu off yet should I just leave it alone and work on it?  Get anohter card to show more credit with less usage?  What is the best course of action my ficos are 573, 612, and 663.  Trying to get them as high as possible after my BK.

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Work on geting the WaMu down. They will be generous with your CLIs if you only keep them paid and more than min.  How old are your cards?  I'd D6 the first premie ASAP.  Not only do you probably have an annual fee but a monthly maintenance fee as well.  Try Household Bank.