Credit Cards for rebuilding

[Anonymous]

What's a good amount of cards to have while rebuilding. I have these:

my credit union cc: 1500

Cap1 QS: 300$

thats its. I sit at 595 fico. 

[Anonymous]

For optimal scoring you would want to have 3 cc and one installment loan.     i have secured discover and with the cash back and no AF its great to have.

[Sandman771]

Everyone here says to maximize your scoring have three with two reporting zero balance and one less than 10% utilization. Also you should have an installment loan such as a mortgage, car, student loan. Alliant CU has loan there is a thread on it that will report for a long time and not cost a lot. 

With that said I only have two CCs. Cu for $2000 and an Open Sky for $300. Just started this journey in earnest a month and a half ago. So my scores really didn't start ticking upward until this month.  Good luck! 

[Anonymous]

So if I applied for the secured discover do I need cash then and there

[Anonymous]

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@Anonymous wrote:

So if I applied for the secured discover do I need cash then and there

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its within 2 weeks or so.    but if you have 2 unsecured, you might get an unsecured discover. 

[rmduhon]

Actually, it's 2 cards reporting a zero balance and 1 card reporting less than 9% of that card's limit, not overall limit.

[Anonymous]

Great advice. Thanks

[WayUpto850]

Greetings and congrats on your decision to rebuikd your credit!

I have found www.mymilestonecard.com to be a good unsecured mastercard.  The annual fee is a bit high ($75.00) and the maximum credit limit is only $300.00.  The purpose of the card is to help rebuild credit and they will issue unsecured credit cards to people with low credit scores.