Credit Cards and Maximum Benefit?

[BluJay]

I have a $1000 unsecured card from capital one, and I also have a $700 Kohls card. My ultimate goal here is to have the optimal amount of credit cards. There are so many opinions and I wanted to get your guyzez opinions. Should I just try and increase my capital on credit card to the max before applying for another credit card? Do I have enough credit cards for maximum credit potential? I want to get a mortgage to buy a house in about a year and a half. Thank you

[guiness56]

What else is on your CR?  Are you rebuilding?

2 is fine while rebuilding.  You would let one report 0 balance and the other at 9% or below for optimum FICO scoring.

[BluJay]

I just declared bankruptcy. I've had the Kohls card since before my bankruptcy. My credit age is only 2 years 1 month since opening up the capital one credit card. I have had the capital one credit card for one year now with constant monthly reporting and haven't missed a payment. My score is recovering extremely slowly. What can I do to increase the rate of recovery? I'm thinking i will just keep requesting credit increases until I get up over $2000 on my capital one credit card. Thank should help a bit.

[guiness56]

The BK will hold your score down for awhile.  Has it been discharged yet?

Are all of the accounts included showing IIB and a 0 balance?

Keep in mind your CL has no affect on your score.  It is how you manage the accounts that do.

[BluJay]

Yeah, it has been discharged. All the accounts are IIB and have a zero balance. If my CL has no impact, then eventually opening up another credit card and managing the account would help my credit profile right? I wanted to get three credit cards and manage the accounts, because I read that it looks favorable for a mortgage.

[guiness56]

Yes, opening another would help if managed properly.  And I have heard of lenders having a requirement of 3.

[BluJay]

I was approved for a capital one journey card. Give it a shot if your looking for an unsecured card, 1.25% cash back, my credit score is 690 but i had 6 inquiries, limited credit history of about 2 years on average and a bankruptcy filed about a year and a half ago. Good luck.