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zedekc
Posts: 120
Registered: ‎05-26-2011
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3rd CC?

[ Edited ]

I have been 'pre-approved' for some cards designed for people with average credit.  i have 2 cards atm with 7 months of positive history atm,  in 6-9months from now is it going to help my score by getting a 3rd card?  Or is 2 enough already? (I know to start with the tradeline untested it lowers your score, also the AAoA's, and the inquiry will be neg to my score too, but factoring that with the positives after 6months or so, is my score going to be better off?    (I have <9%/on purpose utilization atm so the extra CL to improve uti is not a factor in this, mind you.)    Thanks!

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jimbo831
Posts: 977
Registered: ‎02-08-2012
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Re: 3rd CC?


zedekc wrote:

I have been 'pre-approved' for some cards designed for people with average credit.  i have 2 cards atm with 7 months of positive history atm,  in 6-9months from now is it going to help my score by getting a 3rd card?  Or is 2 enough already? (I know to start with the tradeline untested it lowers your score, also the AAoA's, and the inquiry will be neg to my score too, but factoring that with the positives after 6months or so, is my score going to be better off?    (I have <9%/on purpose utilization atm so the extra CL to improve uti is not a factor in this, mind you.)    Thanks!


If it were me, I would wait until my credit improves a little further and those accounts age, then apply for a prime card or two.  I don't know that there is much credit score advantage to adding 3 cards over 2, and the inquiries/new accounts may push back the time you need to wait to go prime.

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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012
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Re: 3rd CC?

Wait a little longer. Let those two INQ's come off as you develop a more positive history.
Try for a third after you've at least had the year with both cards.

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zedekc
Posts: 120
Registered: ‎05-26-2011
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Re: 3rd CC?

I know I would be approved, and I am not concerned about the CL or using it or anything, I am just wondering if there will be a score benefit from having a 3rd positive tradeline after 6-9 months useage.  Thanks!

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Chopbrocoli
Posts: 805
Registered: ‎05-11-2007
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Re: 3rd CC?

I would hold off. Obtaining a new card will bring down the average age of your credit. 

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Treysdaddy08
Posts: 37
Registered: ‎02-02-2012
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Re: 3rd CC?

It would depend on how close you think you are to prime card territory. If you're just a few points away then I would wait, as the time and the inquiries being dropped would prob give you those points. If you're still a ways off, having less than half your cards hold a balance will help, and since one is less than three, I would want to start the aging on the credit card now. Just my two cents.

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New Contributor
zedekc
Posts: 120
Registered: ‎05-26-2011
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Re: 3rd CC?


Treysdaddy08 wrote:
It would depend on how close you think you are to prime card territory. If you're just a few points away then I would wait, as the time and the inquiries being dropped would prob give you those points. If you're still a ways off, having less than half your cards hold a balance will help, and since one is less than three, I would want to start the aging on the credit card now. Just my two cents.

Im at, 607 equifax, 635 TU, not sure what Prime is, but I think I might be a ways off lol.

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Repo-ed
Posts: 2,953
Registered: ‎02-09-2012
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Re: 3rd CC?

I to opened up an additional card over the last month, taking me to 3 CCs.  While on vacation last week, I was given a pre-approved for a Plat. Visa.

 

Would I LOVE to have it in my wallet?  Sure!

 

Did I tear it up, because I know they would deny me in the end?  Sure did!

 

Not worth the HP to me right now.


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