Reply
New Contributor
Drefrombk
Posts: 58
Registered: ‎08-06-2008
0

Do I need any more credit?

I have been slowly trying to build my credit. I just want anyfeed back of another cards I could get or should I be content with what I have. I'm

 

 

Orchard Bank-CL-300

B Of A  Secured-300

CJ CL-2500

Kay Jewelers CL-3000

Jared-1500

JB Robinson-CL-1500

UTl->3%

FICO's- EQ 629 TU 597 Ex 588

Regular Contributor
shreco
Posts: 134
Registered: ‎05-05-2008

Re: Do I need any more credit?

For your scores you seem to have hit all the usual suspects with success. Perhaps let them age then move up the credit ladder for more rewarding prime cards.

 

BofA will unsecure and grow. Orchard you will want to cut loose at some point when you aquire prime cards. And the jewelry cards are simply there to pad your utilization I assume. Unless of course you are a avid jewelry buyer otherwise you will probably cut them loose as well some time in the future.

 

How many have you added this year? If most of them I suggest you hold 1 year then shoot for some better cards. CU's and prime lenders.

FICO TU 730 EQ 731 EX 706
New Contributor
Drefrombk
Posts: 58
Registered: ‎08-06-2008
0

Re: Do I need any more credit?

All my cards are less than 6 months old. Yea I guess I should let them age some more
Valued Contributor
wmarat
Posts: 1,754
Registered: ‎11-03-2007

Re: Do I need any more credit?

Defenetly let it age.


Drefrombk wrote:
All my cards are less than 6 months old. Yea I guess I should let them age some more

 

IN VINO VERITAS.
Valued Contributor
debtisgood
Posts: 1,126
Registered: ‎03-25-2008

Re: Do I need any more credit?

That BoA can turn into your first real gem when it converts to a non-secured. You can move to a rewards card fairly soon thereafter and use that as the basis with which to built a wallet with great cards.

 

I think the cards you have now will get you there, but I agree you need to let them age a bit first.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}