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Congrats on your approval.
Congrats on the approval and on the journey! There really is no standing rule, as far as I know. You will find some cards will not grow into larger limits aka "bucketed". But you need to go through them to grow sometimes.
I would recommend to get what you can manage well. As you garden your limits and SL will improve. Read about AZEO to grow your scores and dont rush to apply too, too much.When you think you can get better cards start taking SUB;s into consideration. Best of luck!
Thanks for all the useful info. I will definitely sit for a little while and hopefully good things are to come!!
@Anonymous wrote:
... Is there a “golden number” of credit cards I should shoot for?
More = Merrier.
Some members would argue otherwise.
Take your time to learn what you are doing first before going crazy credit-seeking.
Then go crazy credit-seeking.
Or take a more measured approach. That works too.
Congrats! on your Disco approval. That's a good lender to get in with.
@Anonymous wrote:
First timer here so forgive me if I put this in the wrong place. I’ve been trying the pre-qual for Disco for over a year now. FINALLY got approved for Disco It!! Started me off at $750 but hopefully it will grow like everyone says.
Data Points for all
Fico8 Exp-654, Equ-647, Trans-617
6 recent Inqs
4 derogs all over 4 years old
From what I can tell I’m lucky to have been approved.
It will definitely grow. Mine started out at $1000 CL when my scores were similar to yours... Look at it now! Congrats on the new card!
Nice! Congrats!
Disco still won't give me any love. The only reason they cite is "status of prior Discover account"... To be fair, they did sue me for $5k last year I later settled it for less. I actually did get a pre-approval a few months ago, and I stupidly pulled the trigger on it thinking it was a sure thing, only to get denied. Wasted a HP. I don't even check the Discover pre-qual page anymore, but I may try again in a few years.
@Anonymous wrote:
Is there a “golden number” of credit cards I should shoot for? I have the Cap 1 secured that just got increased to 700 and I also have a credit 1 sitting at 450. I’m not sure if I should harden those for a while or shoot for another?
A lot of people suggest that 3 is the "golden number", meaning that you're not getting the most FICO points with only one or two cards, and once you have 3 then you're set, and adding more won't help much other than by lowering your utilization, which you can also accomplish without adding cards.
I like to have more than 3 so that I have some "cushion" to allow me to close cards later without causing any serious harm to my scores.