@Anonymous wrote:I am doing great rebuilding my credit this year, I have gone from a 450-ish score to a 650 as of this month - with a lot of help from people's posts in this forum!! Thank you all for sharing your experiences, the information has been extremely helpful! I am trying to get to 700 before the year ends! I didn't think it would be possible when I started this credit cleanup back in December - but hard work, research and paying bills on time has its benefits...imagine that??
So, I got a $200 secured card, a $350 secured card and a $700 un-secured card this year. I have been using them all for purchases, and paying them off right away. I just got a 4th pre-approval for a $1,500 un-secured card, my question is - should I get it? Or would that be too many accounts opened in such a short time frame (9 months)? All the cards have annual fee's and high interest rates, but I am only using them to establish credit, not out of necessity...
Any comments would be helpful.
thanks!
Three cards are usually the key to optimizing your FICO score (along with some kind of installment loan plus a mortgage), so I would hold off on this other card if it is a builder (AF/high interest card with no or minimal rewards). It would be more beneficial to use what you have now and save the inquiry for a better card down the road that would offer no annual fee, ideally a lower interest rate, plus rewards.
Congrats on your rebuild and good luck on your journey 