topic How many cards is enough when rebuilding? and more... in Understanding FICO® Scoring

How many cards is enough when rebuilding? and more...

cardsgalfan — Tue, 25 Sep 2007 01:58:22 GMT

My current scores are: 552, 516, 530. Ofcourse, my TU on truecredit is 626 (too bad it's a FAKO!) I have an Orchard Bank Card and I'm keeping my utilization at 5% and also a US Bank card keeping the same utilization. Should I apply for anything else? (Not sure I could get anything else...)

Also, I was behind on my house payment, but I paid that up over the weekend so how soon should I expect before that is reported on my CR?

I've been disputing online, but now on some I can't do anymore online, can I keep disputing via US mail or fax?

Thanks!

Re: How many cards is enough when rebuilding? and more...

Anonymous — Tue, 25 Sep 2007 13:35:30 GMT

How long have you had your Orchard Bank card? Depending on how long you've had your Orchard Bank card, I think you would be fine just having the 2 cards. Build a little longer payment history with the Orchard card and let the benefits of that card work for you.

You should continue to make timely payments and pay the balances in full. Also, let your score increase a little more. Let your score reach the mid 600's before you apply for another card.

There is no sense (in my opinion) to have 2 cards with very low limits, such as $250 or $500, unless your in dire need of the money.

Message Edited by Savvy81 on 09-25-2007 06:35 AM