How many CCs is a good number? Also general raise Credit Score pointers

[Anonymous]

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@darkariel7 wrote:

I would keep if they removed the AF when it became unsecured. I want to cancell it because they told me that they wont. Again though if Discovery IT is better why get so attached to one that I need to spend about 3900 on just to come out even. I get that building credit takes time. But why use an inferior card to do it?

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If you already paid the AF for the year, At least keep it till the next AF is due, then try to get it waived and if they won't. Then cancel!

[negg]

That $39 will pay dividends in about 3 years. I'd pay it and play it year by year. 

  GL

[darkariel7]

Pretty much what I am planning at this point.

But on to the actual question. Is there any good number of CCs one should strive to keep? I also dont really have anything other than CCs building up my credit. Should I?

[Anonymous]

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@darkariel7 wrote:

Pretty much what I am planning at this point.

But on to the actual question. Is there any good number of CCs one should strive to keep? I also dont really have anything other than CCs building up my credit. Should I?

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From what i've read 3-4 is supposed to be enough to maximize FICO score.

I personally have 9 Major CC's and 2 store use cards.

Im also an AU on 7 Major CC's, and 3 store use cards.

[Chris679]

$39 fee is not going to pay "dividends" in three years it is going to cost you $117. The account will report as a positive trade line for at least 10 yrs even if you close it now. If you can PC it and remove the fee before it's due then great, if not close it and move on.

[Anonymous]

I also suggest you continue to pay the AF. The card will grow, unsecure and in another 6 months to year, call and request an upgrade to a non-AF card. BoA has some really nice credit cards.

[Anonymous]

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@Anonymous wrote:

I also suggest you continue to pay the AF. The card will grow, unsecure and in another 6 months to year, call and request an upgrade to a non-AF card. BoA has some really nice credit cards.

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+1

[darkariel7]

They will not do that. I asked them if they would.

[CreditDunce]

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@darkariel7 wrote:

They will not do that. I asked them if they would.

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No bank (or very few banks) will unsecure a CC after 6 months.  Especially since it was your first card.   However, there is an excellent chance they will unsecure it at 1 year.  Give it time.  In the mean time, you might be able to PC it to the 321 card.

[darkariel7]

No I mean even when it becomes unsecured they will not waive the fee. I asked specifically that.