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Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Question

I've had a BOA Amex since 05 and Cap1 since 2006. My question is would it look better to have another company in my file? Or are the two good. I dont need the credit to buy anything, my thought was it would be good to have a long history with 3 "different" companies. 
 
BOA Amex 0 bal - 1K cl
Cap1         223bal - 2750CL
Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008
0

Re: Question

I personally think you should have at least 3 credit cards for scoring purposes, and also to have some more options should one treat you badly.

On another note, maybe you could call BoA and get them to bump up your CL.

Since your history is young, it might be a good idea to find out several cards you might like to have, and try to get them all in the next year so they can all age together (maybe three more cards instead of just one). If you get five total, remember to keep a balance on two or fewer.
Epic Contributor
Creditaddict
Posts: 20,995
Registered: ‎10-23-2007
0

Re: Question

I would for sure ask BofA to increase your credit line.  Then I would add a store card to the mix and possibly another credit card too.
Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Re: Question

How does the extra card help with scoring? My Util right now is about 7%
Epic Contributor
Creditaddict
Posts: 20,995
Registered: ‎10-23-2007
0

Re: Question

adding a store card would give you a credit "mix" which fico likes for some reason.
Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Re: Question

I was thinking about Discover
Epic Contributor
Creditaddict
Posts: 20,995
Registered: ‎10-23-2007
0

Re: Question

I say GO FOR IT! let us know
Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Re: Question

So I guess 3 is better than 2?
Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008
0

Re: Question


turbowrx wrote:
How does the extra card help with scoring? My Util right now is about 7%


If you have a car loan and a mortgage, along with the recommended one card reporting a balance, you will need to have at least 3 more cards to balance out the accounts showing balances on your CR.
Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Re: Question

No car loan.. no mortgage

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