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Should I apply for a 3rd CC for scoring reasons though I don't need it?

credit-user-19
Frequent Contributor

Should I apply for a 3rd CC for scoring reasons though I don't need it?

As it stands now I only have 2 cards and it's the same two cards that I started of my credit journey back in 2019. One of them is a flat 2% CB card and the other is Target MasterCard now. 

 

I really don't need more credit given i've been given many credit limit increases but it seems for AZEO you need 3 cards for the best scoring? 

 

Also with that said with holiday spending coming up I was lookng to see if maybe I could collect another $200 SUB. I think the only thing that really interest me at this point is maybe the SavorOne but they are extremely fickle about approval. I really don't trust their pre-approval thing that says I do pre-qualify for it becuase I had same thing once before but was denied. Seems many have also faced the same fate. 

 

They did a few weeks back send me a mailer for the Quicksilver with a $200 SUB. Maybe they'll send me a SavorOne mailer. Also seems like this is the only way some people got approved for it. 

 

Thoughts? 

Message 1 of 5
4 REPLIES 4
FinStar
Moderator

Re: Should I apply for a 3rd CC for scoring reasons though I don't need it?

As discussed in your many previous threads, especially those associated with Capital One, if you don't need it and your scores are optimized enough, then there's really no point unless you're aiming for a big ticket item like a vehicle or mortgage.

 

With that said, you're already aware of their pre-qualification site so you can always go that route for the odds. There's plenty of other cards that have comparable SUBs such as Wells Fargo Active Cash, Citi Custom Cash ($300 SUB via CK), FNBO Evergreen Visa (pre-qualification page available), and there's also the CU alternative if you want to pursue a membership with one.

Message 2 of 5
Anonymalous
Frequent Contributor

Re: Should I apply for a 3rd CC for scoring reasons though I don't need it?

It's perfectly fine to just use one card for almost everything, but if you do decide to get a new card, the Custom Cash FinStar mentioned might be a good choice. That $300 SUB is as high as you'll get without having to deal with miles, and it can operate as a sort of mini/super Savor One, since it provides a higher CB percentage, but only in one of the categories. And if you do end up getting the Savor One later, you could just make the Custom Cash your dedicated card for another category like gas. It's a very flexible, low effort card.

Message 3 of 5
SouthJamaica
Mega Contributor

Re: Should I apply for a 3rd CC for scoring reasons though I don't need it?


@credit-user-19 wrote:

As it stands now I only have 2 cards and it's the same two cards that I started of my credit journey back in 2019. One of them is a flat 2% CB card and the other is Target MasterCard now. 

 

I really don't need more credit given i've been given many credit limit increases but it seems for AZEO you need 3 cards for the best scoring? 

 

Also with that said with holiday spending coming up I was lookng to see if maybe I could collect another $200 SUB. I think the only thing that really interest me at this point is maybe the SavorOne but they are extremely fickle about approval. I really don't trust their pre-approval thing that says I do pre-qualify for it becuase I had same thing once before but was denied. Seems many have also faced the same fate. 

 

They did a few weeks back send me a mailer for the Quicksilver with a $200 SUB. Maybe they'll send me a SavorOne mailer. Also seems like this is the only way some people got approved for it. 

 

Thoughts? 


I think it would be prudent to add a credit union card or bank card, with a different institution. Just to be diversified.  But I would not go with Capital One.


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 718 TU 714 EX 695

Message 4 of 5
FishingGuy
Regular Contributor

Re: Should I apply for a 3rd CC for scoring reasons though I don't need it?

I would add another card  ( possibly two, with different issuers )... and pick those that suit your spending as well as one that offers soft pull credit line increases.  Though I understand you don't really "need" the credit now,  you don't know what the future may bring, and I would rather have them..... and let them age, & have a thicker credit file built slowly over time while rotating usage and AZEO balances between cards.    I'd rather have them when I don't need them, then look to seek new credit when I might,   That's just my opinion.

Message 5 of 5
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