Getting a card just to put it in your sock drawer

[creditismyhobby]

I'm wondering if it's a dumb idea to get a Card just to pad your report? Something that you You would rarely use with a decent Starting lineJust put it in your sock drawer? And pull out for gum and gas every 3 months

[Ardecko]

If you have 3 or more cards active right now (that you have no intention of cancelling in the next 3-6 months), no. You do not need a card just to SD.*

If you have less than 3 cards active, you should consider it. If you have your spending under control, and can keep up with the due dates, it will benefit you in the long run. (Note: don't pay annual fees on a sock drawered card, that's just silly.)

* If you're an advanced credit score tweaker, and have a high dollar purchase coming up, a new card might be useful as well. But you'll have to figure out why that is on your own, and make sure you can handle it.

[creditismyhobby]

Thanks I was just a thought I was rolling around in my head

[Anonymous]

In my head I would totally say get one to put in your sock drawer so it would give you more limit cushion, but if I were to get a new card I would want to find some sort of use for it to possibly get an increase in the future to get even more cushion. 

[Anonymous]

Try and find one that suits your needs. Uber VISA could be your restaurants/bars card at 4%. Or maybe DiscoverIT for 5% categories.

[Anonymous]

From what I've read it's better for your scores to have a small balance on your card when reported than a zero balance, since it shows that you're using your credit and not just letting it sit idle.  So if you're planning on getting a SD card to improve your utilization %, I'd set up one of your smaller monthly bills to be paid on the card (something like Netflix), and set up autopay to pay the balance in full, so the card shows activity without you having to use it manually.  Depending on when the balance gets reported to the CBs, you may have to tweak the timing of the monthly charge and monthly payment so the former occurs before reporting and the latter afterward.  Many cards report the balance when the statement is cut, so as long as there is a small balance on your statement and it's paid off in full before the due date you should be golden.

If you have fewer than 3 cards, it might be worthwhile to get the SD card; if you have more, just request CLIs on your existing cards.

[UpperNwGuy]

Never get a card that you don't intend to use.

[Anonymous]

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wrote:
I'm wondering if it's a dumb idea to get a Card just to pad your report? Something that you You would rarely use with a decent Starting lineJust put it in your sock drawer? And pull out for gum and gas every 3 months

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I’d say if you have less than three to five cards it would be a way to raise your score using the AZERO method. If you have five or more I’d say it’s a lot of hassle for little to no gain. Unless it’s use is an emergency use card or something similar. In the end it’s sure is up to you and nothing illegal about it.

[AverageJoesCredit]

All scoring and credit card issues aside, i wouldnt get a card just to put it away. Yes eventually we do do this, or many of us do ( after a card served original purpose) but to literally app a card with no intentions of use to me is just wasting a pull you could use on a card you really want. Just my humble opinion.

[Anonymous]

I was always told to get credit when you don't need it because when you need it you may not be able to. If you have less than 5 cards, I see nothing wrong with getting a card to have a little cushion.