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Do I need another card?

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Anonymous
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Do I need another card?

Chase- 2K (new)
Citi-1K (6 months)
Macy's-300 (6 months)
BOA-1500 (1 year)

I will be apping for a mortgage in 2 years. Is this good enough and just let them age or do I need another card in the mix to show I can handle credit?
Message 1 of 3
2 REPLIES 2
Anonymous
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Re: Do I need another card?

No - 4 revolving accounts is fine. You have a store card in there as well so that has boosted your mix points. You should simply request increases with Citi, BoA, and Macy's prudently. Remember that Chase is a hard pull (you can request one in a year and have time to have the inq age off of your score). BoA is a soft unless they tell you otherwise and Citi is a soft if you don't have to fill out a form when you request an increase (but don't click the button often - they count it and use it in their risk analysis). With Macy's ask for a "guideline increase" every 3 months or so.
 
Do this and your lines will look more impressive when you go for your mortgage. You have some great cards and you are all set for a great score. Just let them grow!
Message 2 of 3
Anonymous
Not applicable

Re: Do I need another card?

Thanks so much! I do want a Amex in the group but I'm going to wait a few years until we have the mortgage and are hopefully out of this dang credit crunch
Message 3 of 3
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