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Where to go from here

Frequent Contributor

Where to go from here

I think I need to add a new card to my profile but am not sure. Possibly another rewards card? My property management company does not accept CC payments. Utilities are paid for by my partner. Here is my current profile:

Authorized user on Target visa CL $5000 $0 balance. 4 years
Wal-Mart Discover MC CL $2400 $600 balance as of two days ago. 1 year
Costco AMEX CL $12,500 (just received 61 day CLI) balance under $200
America discount tire store card. CL $700 $0 balance 1 year
Toyota Financial paid off in August.

I mostly use the AMEX for the gas and restaurant cash back. Discover gets the n Netflix and Hulu charges just so it has something reporting on it. I know there are three inquires on my file from auto loan shopping in Feb.

Thank you taking the time to read this. Looking forward to hearing from this great community.
NFCU Cash Rewards | CSP | WalMart MC | Target Red Visa | Citi Costco | AMEX BCE
Message 1 of 11
10 REPLIES
Moderator

Re: Where to go from here

Unless you have a spending category that isn't covered by what you've listed, then there's really not much need to do so.

 

FICO wise you're fine with that setup; I might pickup another national bank card just because but that's more style points than anything else and future building.  May want to consider a credit union or similar if you're just looking for a tradeline farm, they can be handy for other services later.  Alternatively either a grocery card or a no-FTF card (international internet purchases) are often reasonable pickups... but other than fattening your file a bit which isn't going to have an immediate impact (later future buffer for AAoA, which you can get via Amex backdating anyway) it's seriously coloring at the margins

 

TLDR: you're doing more than fine already.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 797, TU 8 774, EX 8 788 (12/18/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 2 of 11
Super Contributor

Re: Where to go from here

Yes, looks good.   Possible addition to Rev's list depending on how much your property management payment is.   If it is big enough, you may want to pay it through Bluebird or similar, and for that you want a card paying at least 1.5%, like Cap One quicksilver. You would also need a cooperative store, such as CVS, 7-11 or Walmart.

Message 3 of 11
Frequent Contributor

Re: Where to go from here

Thanks for the comments. I just figured I needed to add another card to diversify my portfolio.

What is bluebird? My property management only accepts checks, e-checks, cash or cashier check. Rent is $725
NFCU Cash Rewards | CSP | WalMart MC | Target Red Visa | Citi Costco | AMEX BCE
Message 4 of 11
Super Contributor

Re: Where to go from here

For $725, not worth the hassle.  

 

Bluebird is an American Express product which does free bill pay (sending an electronic or paper check to your payee as required).

You "load" bluebird in various ways, including buying reload cards.  With a suitable credit card, and access to stores that allow you to buy reloads with credit cards, it is a way of getting rewards on payments that do not accept credit cards.   Without a 2% or more credit card, the time it would take on a $725 payment is probably not worth it.

Message 5 of 11
Frequent Contributor

Re: Where to go from here

I see, well that kind of sucks. Wish there was a way to make some money paying rent.
NFCU Cash Rewards | CSP | WalMart MC | Target Red Visa | Citi Costco | AMEX BCE
Message 6 of 11

Re: Where to go from here

Hahah I hear ya...don't we all. Smiley Very Happy

FICO: 772 (11/2013) TU:760 (11/2013)

AMEX BCE: 10k
Kohl's Charge: 2k
Chase Freedom: 3k
Discover IT: 7.5k
VS Angel Card: 1k
Message 7 of 11
Frequent Contributor

Re: Where to go from here

Just signed up for the Transunion 3 score and report here are the results
TU 774, EX 771, EQ 777 all are grade C. Will getting another national bank card push me into the 800s "B" grade?

What would be considered a national bank card? I don't really travel but if I would like to. Maybe look for a card that can help me do that. Just have to learn how all those points= miles and what not.
NFCU Cash Rewards | CSP | WalMart MC | Target Red Visa | Citi Costco | AMEX BCE
Message 8 of 11
Frequent Contributor

Re: Where to go from here

Forgot to add according to discover my FICO is 733
NFCU Cash Rewards | CSP | WalMart MC | Target Red Visa | Citi Costco | AMEX BCE
Message 9 of 11
Moderator Emerita

Re: Where to go from here

The TU score you signed up for are FAKOs. The Discover is a FICO score. I don't take much stock into FAKOs ESP since lenders do not use them. What is important is what's IN your credit report.
Message 10 of 11