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Discover it & Captial one platinum approval!

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Contributor

Discover it & Captial one platinum approval!

Hey guys, just got approve for a discover it ($500) & a capital one platinum card ($300) so that's 800 in available credit. These are my only two credit cards and tradelines I have, but my question is should I have both report a balance or just one?
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 1 of 8
7 REPLIES 7
Valued Contributor

Re: Discover it & Captial one platinum approval!

For optimal scoring, all zero except for one. So in your case, one should have a balance of less than 8.9% utilization while the other reports $0. 

 

Congrats on your approvals. Soft pull CLIs are possible on both cards so nurture them well. 



Beginning Journey April 2017 – FICO 8

Current Scores May 2018 – FICO 8

Started this credit game with $8400 TCL in 04/17 now I'm at $150K+.
Message 2 of 8
Contributor

Re: Discover it & Captial one platinum approval!

Thank you, ok so gardening with these two for a min will be enough to generate a good score after 6 months or so? I have no score.
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 8
Community Leader
Super Contributor

Re: Discover it & Captial one platinum approval!


@Liable0827wrote:
Thank you, ok so gardening with these two for a min will be enough to generate a good score after 6 months or so? I have no score.

Ideally you should have one more card to maximize but I would stick with what you have for now. You got two nice cards that aren't technically rebuilders and with no credit score. Unless someone can chime in on another card you can get I would sit tight and check your scores when they finally appear in 6 months. And congrats on your two new cards!

Message 4 of 8
Contributor

Re: Discover it & Captial one platinum approval!

Thank you, and I was looking for a 3rd card but but no luck so I'll just stick with the two I have now. Hopefully will be in the high 600's in 6 months
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 8
Established Member

Re: Discover it & Captial one platinum approval!

Congratulations on your cards. Take care of them and they will return the favor.

Message 6 of 8
Valued Contributor

Re: Discover it & Captial one platinum approval!


@Liable0827wrote:
Thank you, ok so gardening with these two for a min will be enough to generate a good score after 6 months or so? I have no score.

Yes, scores should generate within 6 months. Unless you want to go the secured credit card route and take up precious card slots, I’d garden until 6 months. Every inquiry temporarily stings hard at the beginning of ones credit journey.  I think you’ll easily be in the high 600s/low 700s, if you play this right.  I’m excited to watch this play out.

 

I would also suggest a shared secure installment loan/self lender loan to maximize FICO scoring as well.  



Beginning Journey April 2017 – FICO 8

Current Scores May 2018 – FICO 8

Started this credit game with $8400 TCL in 04/17 now I'm at $150K+.
Message 7 of 8
Contributor

Re: Discover it & Captial one platinum approval!

Yea that was my next move a self lender loan, but I'll be giving a update after 6 months
Starting Score: No Score
Current Score: No Score
Goal Score: 700


Take the myFICO Fitness Challenge


Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 8
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