How much is too much?

[KarisMcc]

Hey Guys,

I recently started rebuilding my credit and was wondering how much is too much. I have a capital one secured card with a $300 limit and just got approved for a First Premier with a $300 limit ( I have not paid the processing fee yet because I am unsure, but the card has come in the mail). I also want to apply for a second secured card and was wondering if that would be TOO much. Any opinions are more than welcomed. Thanks

[madmann26]

Stay the hell away from First Premier. Damn near any secured is better then them.

[ezdriver]

First of all, 4 to 6 tradelines is good and if the mix consists of credit cards and installment loans, then that is even better. I am rebuilding with one secured installment loan and four credit cards [three of them secured]. Remember that number of tradelines and the mix of tradeline type are both important. I used to own a mortgage brokerage company for 10 years so I'm offering this information based on my personal knowledge and experience.

Regarding the First Premier card, I do not have any personal experience but I just threw out a pre-approval app that arrived in the mail for my wife because the annual fee is ridiculous.