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3rd card?

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3rd card?

Hey all, just started my building journey. After many years of ignoring credit, it's time to get things moving in the right direction.

I applied and was approved for a Cap One QS1 and a LendUp Arrow, $300/$500 respectively.

What would be a good 3rd card? Discover It secured? Amazon store card?(just saw they have a secured version).

A few charge offs, 2 collections, and a repo last year are all keeping me down. Neither the CapOne or LendUp are reporting yet. Only other account is a high interest car loan that's 8 months old and 100% on time.
Message 1 of 6
5 REPLIES 5
Valued Contributor

Re: 3rd card?

2 cards should be fine for now.  If you have a good chunk of change you could shoot for a $2500 secured Disco and get the ball rolling even faster.  Then concentrate on the janitorial bleaching of your reports while things work their magic.

500K+ TCL / 800+ FCOs
Message 2 of 6
Valued Contributor

Re: 3rd card?

OP, congrats on gettng the ball rolling with repairing your credit. Been there and doing that. 

 

As previously mentioned, it is probably a good idea to let the two cards report, show some positive usage before going for the third card, especially as your baddies are all so fresh. 

 

But, if you have a prequal from Discover, it also won't hurt to get the Disco now as the three cards can age together. 

 

Good luck on your new credit journey.

"Hover mouse over cards to see CL and APR info"


Message 3 of 6
Community Leader
Super Contributor

Re: 3rd card?


@Scff506 wrote:
Hey all, just started my building journey. After many years of ignoring credit, it's time to get things moving in the right direction.

I applied and was approved for a Cap One QS1 and a LendUp Arrow, $300/$500 respectively.

What would be a good 3rd card? Discover It secured? Amazon store card?(just saw they have a secured version).

A few charge offs, 2 collections, and a repo last year are all keeping me down. Neither the CapOne or LendUp are reporting yet. Only other account is a high interest car loan that's 8 months old and 100% on time.

Hi OP and welcome to MyFICO

 

I agree with both posters on waiting. Use the two cards you just got responsibly by keeping UT very low and paying on time. 

 

In the meantime, start sending out GW letters and work on cleaning up your CRs. 

 

GL2U

REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 4 of 6
Community Leader
Valued Contributor

Re: 3rd card?

Building some history with your two new cards wouldn’t hurt. However, as someone else, said, if you’re prequaled for Disco, that would make a good third card. Plus it would eventually graduate and would most likely grow well. 

Congrats on your rebuild and good luck!!

Discover It: 19.7k
Amex BCE: 18k
Citi DC: 5.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 5 of 6
Established Contributor

Re: 3rd card?

Congrats on the rebuilding and know that the hard part is having patience with the process. We are here to help!  Smiley Happy

“Most people work just hard enough not to get fired and get paid just enough not to quit.”
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