Looking to add an account to portfolio - Help me decide/Diversify

[acevesf]

Good morning all! 

I recently ordered my 3B report and noticed on the remarks that the number of accounts showing on time payments is too low, the average number of accounts being six.

My scores are 6703, 699, and 694 with the following accounts:

1. Jared Jewelry Store Card - $8,100 limit, no balance
2. Macy's Store Card - $2,600 limit, $300 balance
3. Barclays Visa - $5,400 limit, $300 balance
4. Credit One Visa - $2,225 Limi, no balance

What can I do to help diversify my portfolio here? Is there a card you suggest I apply for? What are my chances of getting approved with those scores and relatively low balances?

[Sandman771]

Looks like your utilization is fine since it is below 10%. Do you have any type of installment credit? There are threads on here talking aobut a secured loan that reports for 5 years. 

[acevesf]

Thanks Sandman - Yes I do. It shows 3 accounts but only 1 is open the other are closed, these are auto loans.

The open one is with BAML since 1/2015. Balance of 29k minimum payment of $700. the other two were paid satisfactorily

[HeavenOhio]

What I see as your immediate need is to replace Credit One. However, I'd hang onto it until you find a sucessor card.

I think you should look into getting two new major cards, giving you a total of three once Credit One is gone. How long have you had your current accounts? Do your reports have any recent inquiries? Which Barclays card do you have? That information would help people here to guide you on which cards might be a good fit.

[tealatte]

 I would add Amex BCE, Discover and Chase Freedom/ freedom Unlimited. The best way is to check if you pre-qualify on their sites before you apply. I did get my BCE and chase freedom unlimited with  the scores a little bit less than yours.  I hope this helps, Good luck!

[Anonymous]

AMEX has sign up bonuses going on right now for a lot of their cards. I'd personally recommend either BCE/BCP(Blue Cash Everday/Preferred) and ED/EDP (Everyday/Everyday Preferred). Preferred versions offer higher rewards/cash back percentages but has an annual fee. The regular versions don't have the annual fee.

They pull Experian. They do have a prequalification tool if you want to see if your already eligible for anything. Just go to the AMEX site click personal cards and it should be towards the bottom of the page.

I've only been using the BCE but I do like both cards.

You could also try Capital one as they also have a prequalification tool not that it's ever definite but it's nice to just see. The entry Platinum card is the easiest to get I believe. You may be able to upgrade it down the line or you could try for something more substantial right away.

Chase is really awesome too. I'm not sure on your inquires however. They go by a 5/24 schematic most of the time so 5 inquires within 24 months. I'm waiting diligently so I can add another Chase card to my arsenal.

Good Luck on whatever you decide to app for! There are a lot of excellent cards out there.

[acevesf]

Ok I think I now have a reason to apply for a card and it may help me narrow what card I should go to.

My friend is having a destination wedding next June in the DR. He is coordinating this through a travel agent who will book the rooms and airfare. I am looking at taking my family of 8 for a 5-7day trip. It's looking like total will be around ~$10k.

the travel agent allows travelers to put a deposit and make payments. I am going to pay a couple thousand in deposit and then make monthyl payments up until about January when I get my bonus and pay the rest off.

Should I use the travel agent or can I have her charge some of the total balance to a card? What's a good travel card that would reap me some benefits of an expense I am going to have no matter what.

Cliff's Notes - Need a travel card with rewards for a 8 person vacation to the DR. Do travel agent charges count as "travel?" not sure if she books directly with the hotel and airfare or if the charge is under her travel agency...

[MrDisco99]

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@Anonymous wrote:
AMEX has sign up bonuses going on right now for a lot of their cards. I'd personally recommend either BCE/BCP(Blue Cash Everday/Preferred) and ED/EDP (Everyday/Everyday Preferred). Preferred versions offer higher rewards/cash back percentages but has an annual fee. The regular versions don't have the annual fee.

Chase is really awesome too. I'm not sure on your inquires however. They go by a 5/24 schematic most of the time so 5 inquires within 24 months. I'm waiting diligently so I can add another Chase card to my arsenal.

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If you want the best public offers on Amex cards, try browsing to their site using Chrome Incognito, or other browser in private browsing mode, after clearing history and cookies.

Also, just to clarify, the Chase 5/24 rule is 5 new accounts in 24 months, not 5 inquiries.