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Ravensfan2001
Posts: 310
Registered: ‎11-10-2012
I don't need anymore credit cards, right?
[ Edited ]

‎12-04-2012 06:58 PM - edited ‎12-04-2012 07:00 PM

So during my recent app spree, I applied for a Wells Fargo credit card. I just received my denial letter and was invited to open a secured card with them for a minimum of $300. I opened all the cards in my siggie last month, except for Capital One. I'm tempted to open with Wells Fargo, but I really don't think I need it, especially since it's a secured card and I already have 2 unsecured Visa cards. PLUS, my AAoA would go down even more. I've never heard Wells Fargo be referred to as being a prime card, so I don't think it will really help me.

 

I guess I just answered my own question. Lol! :womanlol:

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madmann26
Posts: 1,027
Registered: ‎08-30-2012
Re: I don't need anymore credit cards, right?

‎12-04-2012 07:27 PM

Ideally you only need 2-3 cards for rebuilding. From what I hear, the WG card reports as secured and wouldn't look all that great on a manual review.
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annielorie
Posts: 1,175
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Re: I don't need anymore credit cards, right?

‎12-05-2012 06:37 AM

If I was u Id get my hinney in the garden and let all those accounts age!! 

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Ravensfan2001
Posts: 310
Registered: ‎11-10-2012
Re: I don't need anymore credit cards, right?

‎12-05-2012 03:22 PM

annielorie wrote:

If I was u Id get my hinney in the garden and let all those accounts age!! 

My hiney is in the garden as of 11/25/12. I was just curious. :womanhappy:

Starting Score (4/16/12 lender pull): TU 596 | EX 550 | EQ 576
Current Score (6/16/13): TU 646 | EX 620 | EQ 673
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sphinx313
Posts: 551
Registered: ‎02-12-2011
Re: I don't need anymore credit cards, right?

‎12-05-2012 05:48 PM

I'd say you're in good shape to just continue nurturing the cards you do have. If you did want the other card it would be best to do it quickly so your AAoA doesn't take a huge hit. I have 4 secured cards working for me right now that will be phased out as I get real cards/better credit overall. 3 is the magic number, but 4 seemed to work for me.


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Shogun
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Re: I don't need anymore credit cards, right?

‎12-05-2012 08:10 PM

You're good, just garden and grow!!!

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