Building credit with 2 cards

[Anonymous]

I have 2 credit cards and I'm waiting for my $500 to become available in my Alliant savings to app for the SSL. I have a capital one card and a khol's card. $300 limit on both. My cap 1 card is 3 months old so I won't have a fico score until April or May. Should I apply for a 3rd card? And what would the best one be to apply for with a decent chance for approval with very limited credit. I'm trying for the 3 AZEO technique. 

[Anonymous]

Personally I would wait until you have a FICO score before applying for a third score.  By that time you will also have fully implemented the SSL technique as well.

In the meantime, if I were you I would also be sure you have used each card, let it report a positive balance on the statement, and then pay it off.  AZEO is great but cards can be cancelled if they have never reported a positive balance even once.  (We had a case of that not long ago here on the forum.)  In the case of the Kohl's, be sure you buy something you really want -- it's a shame to ever spend even a dime more than you have to on a card simply out of a desire to game the scoring system.

After that moving into AZEO and keeping your total util in the 1-8% range should be fine.

[Anonymous]

Ok. Thank you for the advice. Yeah, my utilization on my cap 1 has been excellent so far. I'm at 5% now and never went above 10%. I bought one thing on my kohl's card so far. Just a wallet that I needed. But I'm trying to keep things slow and steady in the meantime.

[AverageJoesCredit]

Dont rush it, take your time and build right. Just because one can app, doesnt necessarily mean one should Wait for your score to generate. Your profile will thank you