I have lurked on these boards a few times, I even managed to learn quite a bit, so thank you!
I started my credit journey 10 years ago; paid down debt bit by bit and eventually I had a clear name (as with many, I was incredibly stupid with my credit when I was younger). The last few years has been spent rebuilding my credit and so far I'm doing pretty good! I started out with a semi-secured card, then BofA switched it to unsecured. Following that I had 2 credit line increases and was so excited! I went out and got my second card, Target, and I wish I had read these forums first before I got it!I will probably be stuck at a $300 limit until I die.
I'm managing my accounts fabulously, keeping utilization low but on a regular schedule, and I've even raised my credit score astronomically. Yesterday BofA gave me another CLI just 4 months after my last. Add to that today I just found out my Experian credit score is in "Excellent" territory at 804! I about had a heart attack out of sheer joy. For a credit repair novice, I seem to be a natural!
My question is though, where do I go from here? Is it enough to build credit with just 2 cards? I wish I'd know Target was so stingy with CLI, I would have gone somewhere else. Also, I used to have a card at a store called Mervyns that went out of business, but it's still shows as an account on my report ,inactive account but still an account. Did another corporation end up buying their old accounts? The reason I ask is because I would LOVE to have an account from 94 on my report, so I'm wondering if I open a new account with the cmpany now holding their dissolved assets, would that then give me an old credit line?
Thanks for such an informative ( and slightly addictive) forum, I've learned quite a bit in my short time of lurking and reading. Any advice is appreciated.
@wmweeza wrote:I have lurked on these boards a few times, I even managed to learn quite a bit, so thank you!
I started my credit journey 10 years ago; paid down debt bit by bit and eventually I had a clear name (as with many, I was incredibly stupid with my credit when I was younger). The last few years has been spent rebuilding my credit and so far I'm doing pretty good! I started out with a semi-secured card, then BofA switched it to unsecured. Following that I had 2 credit line increases and was so excited! I went out and got my second card, Target, and I wish I had read these forums first before I got it!I will probably be stuck at a $300 limit until I die.
I'm managing my accounts fabulously, keeping utilization low but on a regular schedule, and I've even raised my credit score astronomically. Yesterday BofA gave me another CLI just 4 months after my last. Add to that today I just found out my Experian credit score is in "Excellent" territory at 804! I about had a heart attack out of sheer joy. For a credit repair novice, I seem to be a natural!
My question is though, where do I go from here? Is it enough to build credit with just 2 cards? I wish I'd know Target was so stingy with CLI, I would have gone somewhere else. Also, I used to have a card at a store called Mervyns that went out of business, but it's still shows as an account on my report ,inactive account but still an account. Did another corporation end up buying their old accounts? The reason I ask is because I would LOVE to have an account from 94 on my report, so I'm wondering if I open a new account with the cmpany now holding their dissolved assets, would that then give me an old credit line?
Thanks for such an informative ( and slightly addictive) forum, I've learned quite a bit in my short time of lurking and reading. Any advice is appreciated.
The short answer is that yes, 2 CCs are enough to rebuild your credit. But really it depends on what your credit goals are. It's best to have at least 2 bank cards, and I like having at least one each visa and MC. You might want to look into credit unions for a second major cc. But for now, you really are fine.
BTW, remember that your EX score is probably a FAKO and not a true FICO score. Your FICO is probably very good as well, but is different than the FAKO. 
Wait, the score I paid $19 for through this site, shown as Experian, is not a true score? Then what IS? I ignore Credit Karma, nice tool with imaginary scores, but I thought Experian was the right place to check my ACTUAL Fico???
Wait, I just read the difference and why Experian isn't a true score...well, I guess I'll try to celebrate a good FAKO score, *sigh*.
@wmweeza wrote:Wait, the score I paid $19 for through this site, shown as Experian, is not a true score? Then what IS? I ignore Credit Karma, nice tool with imaginary scores, but I thought Experian was the right place to check my ACTUAL Fico???
Wait, I just read the difference and why Experian isn't a true score...well, I guess I'll try to celebrate a good FAKO score, *sigh*.
If you bought your EX score here, then it is a true FICO.
Thank you all for the answers and for the warm welcome! I have discovered growing my credit is fun and addictive, even though I am doing it conservatively
@wmweeza wrote:Thank you all for the answers and for the warm welcome! I have discovered growing my credit is fun and addictive, even though I am doing it conservatively
Welcome to the forum, congrats on your score and yes...keep growing slowly/conservatively and terms will be better. I had to learn the hard way in 2013 with Chase and Discover ..got high APR 22,99% and low limit 2,5K 
...spacing out my apps got me best terms and nice limits
I would add a few more cards but slowly like 1 card every 6 months. That is what I have been doing after the spree adventure.
Congrats and welcome! CreditAddict provides some very useful advice.
