So I just got approved for a card through Barclay via recon which I'm pretty happy about since it's been tough to get approved. My question is one of the "mix" of credit referred to in credit reports. In the interest of building up my report again (this is the only CC I'll have open and I have one student loan) should I look to get another card down the road? I have no mortgage or auto loan. Is one card enough with a student loan? Is two? I'm perfectly happy with one card for my needs. But I'm curious as to how that will be looked upon longterm in terms of the CRAs.
Thanks. That was my plan after reading a lot of posts about them keeping an eye on new card holders. As for the mix, I own my car and will keep that as long as it runs. But ultimately my reason for even going after a card at this point is to build my report in case I decide to buy instead of rent. But that's a year or two off I would guess. In the mean time I'm going to continue to try to goodwill the one account in my report with lates.
@djrez4 wrote:CC365 is spot on.
Think of it this way - Credit it like juggling. Almost anyone can toss one ball up in the air and catch it. Lots of people can juggle two or three of the same ball. But, find someone who can keep two differently-sized balls, a bowling pin, a chainsaw, and a flaming torch up in the air all at once and you have a talented juggler. The borrower who can responsibly juggle two cards, an auto loan, a student loan, and a mortgage is similarly special.
Wow, great anology. Thanks. What you're saying totally makes sense to me.