Credit Cards

[Phillyguy57]

Hey guys! How are you all? I must say i love this forum already. Im here basically for my wife. Were in the process of building her credit. She is currently a stay at home mom taking care of our two kids. Her current credit score is 658. We have an auto loan out and just applied and were approved for a capital one and discover cards. Were both 25. I make a base pay of 65k and usually crack 85k with overtime. We also have a 225k mortgage. Should we stick to the two cards? App for another one?

[Repo-ed]

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Phillyguy57 wrote:
Hey guys! How are you all? I must say i love this forum already. Im here basically for my wife. Were in the process of building her credit. She is currently a stay at home mom taking care of our two kids. Her current credit score is 658. We have an auto loan out and just applied and were approved for a capital one and discover cards. Were both 25. I make a base pay of 65k and usually crack 85k with overtime. We also have a 225k mortgage. Should we stick to the two cards? App for another one?

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IMO, you guys are right where you need to be. Is she on all of the credit?  CCs, mortgage, etc?

If so, just garden.  Provided you do not have any baddies, she'll see nice increases quickly.

[Phillyguy57]

She is not on the mortgage, when we bought the house she was in school full time and didnt really have a credit history. The two cc's are both in her name only. We are both on the auto loan.

[tboy1977]

She is where she needs to be.  You may want to open a card for yourself and possibly AU her, but that's about it.  Assuming she has no negatives, keep the CC balances under 5% and she'll be good.

[Phillyguy57]

I have a discover with a 5k credit limit. I pay it off each month. My credit is sitting around 730 as of now.

[Crashem]

Op, I am a little mixed up.  Can you list cards/limits/balances and who ownswhat card and au status?

[Phillyguy57]

I have the following
Discover card-5k limit, 235 balance
Amex 2k limit no balance on it. Havent used it in a few months.

Wife: just applied and received the folowing
Capital one 300 cl.
Discover 1k limit.
Should she app for one more card?

[tboy1977]

Mine is in my signature, but I'll post here.  I have an auto installment for 4 years at 30% APR.  I have four secured CCs: Capital One at 3K limit, PNC at 1300, NFCU at 1K and Coke CU at 2500.  I also have a card with Target for 200 (not much I know, but its unsecured credit).  No AUs here.  The secured cards are my money to the dime :-)

[Crashem]

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Phillyguy57 wrote:
I have the following
Discover card-5k limit, 235 balance
Amex 2k limit no balance on it. Havent used it in a few months.

Wife: just applied and received the folowing
Capital one 300 cl.
Discover 1k limit.
Should she app for one more card?

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you should add her to your Amex as acm.  Lock in her member date and help her credit.  2nd, are you due for 61st day Or 6 month Amex cli?  3rd, you need a nice visa.  What's your fico right now?  Also, once your wife is acm on Amex, give it 6 months or so and get herYan Amex too.