Good Card for Rebuilding

[Anonymous]

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@Creditaddict wrote:

I would get your utility down and skip the worthless cards like Orchard, beginner Cap 1, best buy mc etc.

If you have no baddies anymore and scores in 700, go prime, citi forward, discover more, amex zync, gold.

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Ok. I will pay it down before I apply for anything new. It makes perfect sense to me. I am mostly worried about the new mortgage and student loans plus all the inquiries. Maybe I'll just wait until next year when my mortgage and student loans aren't brand new.

Thanks!

[Creditaddict]

I don't think Amex is very inq sensitive and the mortgage pulls should just count as 1.

[Anonymous]

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@Creditaddict wrote:

I don't think Amex is very inq sensitive and the mortgage pulls should just count as 1.

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Yeah, they should. But they pulled them more than 30 days apart. Once when I applied once before closing and once after closing. Maybe the last two are counted together. Plus I have the two inquiries from last April. How long do the inquiries "count"? I can't remember if it was one year or two. If it is two years, I have more mortgage pulls. My first homebuying attempt was in 2009 and fell through. It looks bad at a glance - 6 inquiries or something like that - but if someone was actually looking at them, they would be able to see that they were mostly for the same thing.

I will pay down the Visa next month, leaving $5 balance as suggested. Then I'll go for the Zync card. Thanks for the good advice!

[Creditaddict]

Since your Visa reported balance last month and your paying interest, I would pay it to $0.

The only time you need to leave a balance is if you paid ALL your cards to $0 BEFORE the statement cut on any of them, making them all report $0 and you should have at least 1 account record a balance but then pay in full before due date.

[Anonymous]

So... I paid of the Applied Bank Visa card and applied for an Amex Zync and a Capitol One card, and was approved for both! Should I hold on to the Visa for a while, since it is my oldest card, or should I just close it? There is a $39 annual fee on the Visa, and if I close it I can get my security deposit back. But I don't really need that money right now and I just paid the annual fee. Thanks!