Should I apply

[DomaneRider]

My credit has recently jumped the past few months due to some bad accounts falling off.  My question is do I apply for a new CC.  Currently have 2 cards.  $3300 and $1750 limit on each.  Does applying for an additional CC increase my score?  Or should I just sit tight?  Also, I'm not planning on making any large purchases or taking out a loan anytime in the near future.  

Credit scores are sitting at:

Ex 692

Eq 720

Tu 694

Any and all feed back will be greatly appreciated.

Thanks

[OmarGB9]

Adding a card in itself wouldn't improve your scores, but there's the old "have less than 50% of cards reporting a balance" rule, hence why a minimum of 3 cards is *recommended,* but not required. It's totally up to you.

[CYBERSAM]

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@DomaneRider wrote:

My credit has recently jumped the past few months due to some bad accounts falling off.  My question is do I apply for a new CC.  Currently have 2 cards.  $3300 and $1750 limit on each.  Does applying for an additional CC increase my score?  Or should I just sit tight?  Also, I'm not planning on making any large purchases or taking out a loan anytime in the near future.  

Credit scores are sitting at:

Ex 692

Eq 720

Tu 694

Any and all feed back will be greatly appreciated.

Thanks

---

just sit tight! Your on the right path improving your credit, another 20 points would qualify you for much better cards and decent SL. 👍

[DomaneRider]

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@OmarGB9 wrote:

Adding a card in itself wouldn't improve your scores, but there's the old "have less than 50% of cards reporting a balance" rule, hence why a minimum of 3 cards is *recommended,* but not required. It's totally up to you.

---

Thank you.  Looks like there is no rush to apply anytime soon.

Thanks

[DomaneRider]

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@CYBERSAM wrote:

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@DomaneRider wrote:

My credit has recently jumped the past few months due to some bad accounts falling off.  My question is do I apply for a new CC.  Currently have 2 cards.  $3300 and $1750 limit on each.  Does applying for an additional CC increase my score?  Or should I just sit tight?  Also, I'm not planning on making any large purchases or taking out a loan anytime in the near future.  

Credit scores are sitting at:

Ex 692

Eq 720

Tu 694

Any and all feed back will be greatly appreciated.

Thanks

---

just sit tight! Your on the right path improving your credit, another 20 points would qualify you for much better cards and decent SL. 👍

---

Thank you so much.  I guess in another 6-9 months everything being what it is today.  My score should increase some.

Thanks again

[DomaneRider]

Update:

Scores sitting at

Ex 705

Eq 729

TU 710

Slowly inching my way to 750.  I'm assuming several more months and I could possibly be there.  Followed advice and didnt apply for any new credit.    Thanks for everyone who provided positive feedback.  

[SouthJamaica]

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@DomaneRider wrote:

My credit has recently jumped the past few months due to some bad accounts falling off.  My question is do I apply for a new CC.  Currently have 2 cards.  $3300 and $1750 limit on each.  Does applying for an additional CC increase my score?  Or should I just sit tight?  Also, I'm not planning on making any large purchases or taking out a loan anytime in the near future.  

Credit scores are sitting at:

Ex 692

Eq 720

Tu 694

Any and all feed back will be greatly appreciated.

Thanks

---

1. Applying does not help your scores, it hurts them. You get an inquiry, and if you're approved you get a new account which lowers your average age of accounts and resets your age of youngest account.

2. The passage of time helps your scores.

3.  So the longer you wait, the higher your scores will be, and the higher your chance of approval and the larger the selection of cards that will be available to you.

[49erFaithful85]

Appreciate the update. Incentive to sit tight and not impulse app over minor score jumps. Which I may have done before locating this forum.

[Blender]

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@DomaneRider wrote:

My credit has recently jumped the past few months due to some bad accounts falling off.  My question is do I apply for a new CC.  Currently have 2 cards.  $3300 and $1750 limit on each.  Does applying for an additional CC increase my score?  Or should I just sit tight?  Also, I'm not planning on making any large purchases or taking out a loan anytime in the near future.  

Credit scores are sitting at:

Ex 692

Eq 720

Tu 694

Any and all feed back will be greatly appreciated.

Thanks

---

when did you open those cards?

[Bill77]

I would wait at least 6 months and until all 3 scores are in 700s for multiple months.  Nothing wrong with responsibly adding cards as your scores improve.  But you also don't want to be one of these guys with 25 cards with an average CL of 2k lol because they went on sprees and didn't climb the CL ladder the right way.