Increase or more cards to rebuild

[Anonymous]

Trying to rebuild credit after BK, and 2 years after discharge I have 2 CapitalOne cards with $3500 credit lines each.  Would it be better to apply for larger credit lines or open new cards in an attempt to rebuild?

TIA

[Anonymous]

Those are nice CL for someone in a rebuild!  I think for the ideal profile you'll want to add a third card as well as in installment loan.  More info such as your current scores and any other credit you have (car/mortgage loans etc) will let people here give you more accurate ideas and information.  

[Anonymous]

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@Anonymous wrote:

Those are nice CL for someone in a rebuild!  I think for the ideal profile you'll want to add a third card as well as in installment loan.  More info such as your current scores and any other credit you have (car/mortgage loans etc) will let people here give you more accurate ideas and information.  

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Thanks for such a quick reply!

Only other line of credit I have is $2000 business credit card from CapitalOne but it doesnt look like that shows up on my credit report.  I actually put most of my expenses on my business card and pay it multiple times a month.  My personal credit cards frequently show 0% utilization.

We live in Manhattan so no car and we rent so no morgtage.  I do have a little over 30K in student loans that Im painfully paying little by little.

Credit Karma TU - 696 EQ - 688

CapitalOne Credit Wise - 696

[Anonymous]

I'm newish here but have read a bunch.  From what I've read the ideal credit mix is three cards, two showing $0 balance and one showing <10%.  Also, you should have an installment loan of some sort which I believe your student loans qualify as.  If you post your current Fico scores and if you have any negative items on your report other than the bankruptcy will let people tell you which cards you might qualify for to add a third.  

[Anonymous]

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@Anonymous wrote:

I'm newish here but have read a bunch.  From what I've read the ideal credit mix is three cards, two showing $0 balance and one showing <10%.  Also, you should have an installment loan of some sort which I believe your student loans qualify as.  If you post your current Fico scores and if you have any negative items on your report other than the bankruptcy will let people tell you which cards you might qualify for to add a third.  

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You are correct that 3 is considered best, but OP can still improve his/her score by having 1 card report less than 10% balance and the other report zero.  Also, student loans do count as installment loans. 

[A1Credit]

Student loans don't qualify as installment loans @kaykay65? 

[Anonymous]

Ill try to add another card, but prefer to wait until a few inquiries come off my credit report.  I applied for 2 cards in the past 2 years and had to switch phone providers so another hit from T-Mobile.

I know Capital One doesnt do a hard pull for increases will that help my score at all?

[rmduhon]

Since you don't carry a balance on your cards it won't help right now but it can help if you ever do. What are your Fico scores? The scores you posted are FAKOs and can be way off from actual FICO scores