General

[kc12286]

I've heard it's best to have a credit card from each of the major companies.  Visa, Mastercard, Discover and Amex. I know Amex and Discover aren't consider major companies. I was wondering if there is any truth to this.

I currently have 2 Visas, one from Capital One and one from my bank, Commerce. I was just approved for a Chase Freedom Mastercard, with a very high CL, higher than my Visa cards. I'm also on my mother's Amex.

I have no plans to apply  for another other cards right now, I was just wondering if what I've heard is true.

[SpecFile]

I would love to know the source of the info.  I doubt that AMEX and Discover are perceived as anything less than major.

[kc12286]

What I meant by major is that Visa and Mastercard are excepted everywhere, whereas Discover and Amex aren't.

[Anonymous]

Amex and Discover are the UBER-Prime cards.  not sure why you need all of them don't think the FICO scoresthem any differenlty than revolving charge accounts.

[Anonymous]

FICO doesn't care...they're all revolving credit accounts. The only distinction is between revolving credit, with its CLs and utilization, versus open-ended charge accounts, which do not count toward utilization. That's it.