Adding To My Tradelines

Anonymous · ‎10-06-2015

I recently received a credit card from Merrick Bank with a 600CL through a prescreened offer, when the account showed up on my cred report it brought my debt utilization in revolving credit down to 2%, my other card from Credit One bank has a 500 limit, today I applied for a secured cr card with my bank for 400, the bank card allows me to increase my CL in 50 dollar increments as I choose. When the Merrick account was added to my cr report my score went from 599 to 622, hoping the secured card which reports to the credit bureaus takes it higher.

Anonymous · ‎10-06-2015

@Anonymous wrote:
I recently received a credit card from Merrick Bank with a 600CL through a prescreened offer, when the account showed up on my cred report it brought my debt utilization in revolving credit down to 2%, my other card from Credit One bank has a 500 limit, today I applied for a secured cr card with my bank for 400, the bank card allows me to increase my CL in 50 dollar increments as I choose. When the Merrick account was added to my cr report my score went from 599 to 622, hoping the secured card which reports to the credit bureaus takes it higher.

I would recommend Cap One as well. If approved, immediately app for a second card.

Yoshi2015 · ‎10-06-2015

How do you know when you have enough tradelines? I have my student loans, Wells CC, and auto loan? Working on increasing for mortgage. Should I apply for more?

Anonymous · ‎10-06-2015

@Anonymous wrote:
@Anonymous wrote:
I recently received a credit card from Merrick Bank with a 600CL through a prescreened offer, when the account showed up on my cred report it brought my debt utilization in revolving credit down to 2%, my other card from Credit One bank has a 500 limit, today I applied for a secured cr card with my bank for 400, the bank card allows me to increase my CL in 50 dollar increments as I choose. When the Merrick account was added to my cr report my score went from 599 to 622, hoping the secured card which reports to the credit bureaus takes it higher.
I would recommend Cap One as well. If approved, immediately app for a second card.

+1

Anonymous · ‎10-06-2015

@Yoshi2015 wrote:
How do you know when you have enough tradelines? I have my student loans, Wells CC, and auto loan? Working on increasing for mortgage. Should I apply for more?

The recommended credit mix is one mortgage, one installment loan and 3-5 revolving accounts. As a general rule you want to have more positive accounts than negative accounts (I don't think collections are included here). Bank cards are preferred over store cards.