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Regular Contributor
Flying_High
Posts: 187
Registered: ‎08-12-2012
0

is it a good idea to have 3 different types

[ Edited ]

Hey guys, I have a question is it a good idea to have 3 different types of credit cards by the same credit card company?, the reason why im asking is because I have..

 

2 Capital One credit card (1) limit $301..(2) limit $500

1 Discover Card Limit $750

 

now the $301 card is the oldest 7 months and the $500 limit is 1 month and the $750 I didnt get my frist bill yet.

after I get the $500 limit at 6 months I want to close out the $301 Capital One card so that way I can open another Discover card with its same amount or higher. when the $750 gets at 6 mouths I want to close out the other Capital One card $500 limit and get another Discover card so that way ill have 3 Discover card on file...Discover card gave me more limit then Capital One

 

Any suggestions would be great,..I tried to describe the best i could

As of 9/13"
Starting Score: 600
Current Score: 600
Goal Score: 760
Garden till 10/14"
Valued Contributor
jamesdwi
Posts: 1,553
Registered: ‎09-16-2011
0

Re: is it a good idea to have 3 different types

don't close any cards untill the AF is due. You have very new credit with low limits. If you get close a card and try replacing it you will just get another low limit card, that drives your AAoA still lower. Keep your current cards open at least 12 months. The capitol one cards will get your 1 and only one Auto CLI at 6 months. If you need more credit I would suggest you apply for a store card, something backed by GE would be a good choice they give you a CLI's every 4 months or so if you ask, in 8 months it wouldn'be surprising that it would be come your highest CL so far. Good GE cards to try for are Walmart store card, Amazon store card. JC Penny.  get a card for somewhere you shop. 

 

 

 


Cards: Chase Southwest 20k & CSP 10k & Amtrak 4.6k, & Freedom 3.3k & Slate 3.3k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Sams Club Discover 10k, Paypal Extras MC 6k, CapOne 2.5k, CapOne 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Regular Contributor
Flying_High
Posts: 187
Registered: ‎08-12-2012
0

Re: is it a good idea to have 3 different types

I'll just wait a year like you said thx =), do you think I should get another Discover card or stick with getting the Store credit card?

 

 

don't close any cards untill the AF is due....I dont follow the only thing I pay is what I spend,

As of 9/13"
Starting Score: 600
Current Score: 600
Goal Score: 760
Garden till 10/14"

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