I want a 3rd card. Opinions?

[Anonymous]

I am currently in the process of rebuilding. I've been fighting collections and late payments for about a month now, but I've still got some work to do.

I have a secured Capital One card and a secured Discover card, both of which have not reported yet. I am trying to get my mom to remove me from her Chase card as my utilization will dramatically decrease and hopefully shoot my scores up a bit.

I got denied a BoA secured and tried to recon with no success. I think I still want a third card to work with, but I am not sure if that is the best option for me at this point. If it is something that sounds okay to do; What is my best option for a third card?

[rmduhon]

Wait until the Cap1 and Discover report. You can probably call Chase and have yourself removed as an AU.

[Gidgetmom]

If you would like to get another card, you have very few good options.  If you want to get a better card, then work the two cards you have now until your scores improve.  You will be in a better position to apply once you can show you have managed the two accounts you currently own. 

If I had it to do again, I wouldn't have applied as often as I did. Those early inquiries hurt me later in my rebuild.  Even when my scores improved enough to get better cards, I was denied for too many inquiries.  Time is your best friend.  If it was me, I would wait at least 6 months to a year before I took on another card.  I would use the cards I have responsibly and take the time to prove to future lenders that "I got this"!  

I started with a QS1 and Credit One.  I do no recommend credit one and many others will agree. 

You have to realize that your options are slim.  It's a tough credit world when your rebuilding.  There are lenders who will give you credit, but it will cost you at every turn.  Those fees are not worth it.  Time is free and you will get much better options if you wait to apply when your credit is in the upper 600's.  When you get those cards, you start closing off the rebuilders and work towards your next level cards until your score reaches the upper 700's.  Then....the world is your oyster! (For the most part...even 800 clubbers get declined).  

Take care of the two cards you have. Let one report zero and the other less than 9%. Pay your bills on time and every time.  Get your name off that Chase account! Work on those baddies.  It took me MANY attempts to dispute and Good will my baddies.  

If you are set that you want a third card, your best bet would be to check out Cap One's prequalify and see if they find something for you.  They are a decent place to start versus the predatory lenders.  If they don't have anything...sit tight 6 months, or more, and keep checking. 

A friend once once told me...."teach me the rules, and I'LL play the game".  Well, these are some of the rules that I have learned.  You are welcome to learn from my mistakes. 

[BluePoodle]

I agree with Gidget. Take good care of the two you have and let them mature for 6 months or more. Also you mentioned your Mom has you as a AU on her Chase card. If she doesn't have any negative payments with it then I don't think that should be an issue as an AU and could perhaps help you in the door with Chase later on down the line. How high of a utilization does she have and will it be paid off soon? You have time to wait as long as you are not going to apply for anything.

[Anonymous]

I don't mind waiting 6 months to a year, I just wanted to know if that was my best option. I didn't know that I could get myself removed as an authorized user so I may try that tomorrow. She normally keeps that card's balance pretty high as it is her daily driver.

[Anonymous]

If you really want to add on another card, I recommend OpenSky. They do not do any inquiries and you determine your credit line. Keep in mind that this card when I graduate but it will help you.