Credit Building and Credit Cards

[Thiefofthieves]

My credit scores are all around 650-660. The biggest thing holding it back is a charge-off on a credit card of $3,000 about 6 years ago.

I was finally able to get a Capital One card about 18 months ago...$200 CL then increased to $500. I ended up closing it about 2 months ago because they refused to give me any increase in the CL.

About 9 months ago I opened a Capital One Rewards card...$500 CL. After about 4months they automatically increased the CL to $3,500.

About 5 months ago I was approved for a Discover Student card...again $500 CL.

This month I was able to get approved for a Citi Diamond Preferred MC with a CL of $1,900, and was just approved for a Chase Slate card with a CL of $3,000.

Here is my question. What should I do with the Discover card? Should I just keep it even if the CL is only $500? Wait another month or 2 and see if I can get a CL increase to at least $1,500 or so?

My charge off falls off in about 1 year and I think that wll improve my score quite a bit. What do you guys think?

[ihatemyscore]

You should of gotten a different discover card rather than the student version.

[Thiefofthieves]

I didn't think I could have gotten approved for their regular discover card. With a score in the 660 range. Most that i've read online led me to believe that 680-700 was their minimum for a regular Discover card.

[jetsfan2013]

not a bad start at all. Discover may PC you after a while

[Anonymous]

                  Certainly don't close the Discover, there's no fee on the student is there? Also just read a few minutes ago about someone who posted that they were able to PC from the student to the regular IT because the student IT wasn't available yet.

[brother7]

For cards that don't cost you anything to keep, ie no AF, don't close them. If you're not going to use them, sock drawer them and let them age. It will be good for your AAoA down the road because having more aged cards will minimize the hit to AAoA when you add new cards later.

Since the card you have questions about it a Discover, try to PC to the Discover it card which seems to be the hot Discover card at the moment. Discover More is being phased out in favor of the it.

[nicholasyud]

U should listen to brother 7. Also you need to be patient. Credit is all about patient. Not open a card and closed them if they didnt give u what u want. Treat them well and they will show u some respect. It's Discover card not like Capital one. You on the right track with your credit. Keep up a good work and please be patient.