Good to have different types of cards?

[Anonymous]

I got all of my negative info taken off but now instead of bad credit I have NO credit. I have a Cap One secured card with a $200 limit and an Unsecured Cap One card with a $500 limit both very new. So new a FICO score can't even generate. Should I attempt to get a store CC of some kind? I've heard it's good to have different types of cards...

Thanks.

[webhopper]

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@Anonymous wrote:

I got all of my negative info taken off but now instead of bad credit I have NO credit. I have a Cap One secured card with a $200 limit and an Unsecured Cap One card with a $500 limit both very new. So new a FICO score can't even generate. Should I attempt to get a store CC of some kind? I've heard it's good to have different types of cards...

Thanks.

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It is great to have different types of accounts,  installments, Credit Cards, retail store cards...  Before you app for a retail store card, I would consider a secured loan if you have cash on hand to put in a CD... installment loans are a better quality of credit than credit cards and retail cards alone can provide...  If you'll wait 6 months or so, you'll have a Fico score to generate.  Dont go overboard with apping for cards at this point... best to just manage what you have going for you! 2 cards is a great way to get started!

[Anonymous]

Right now, I'd suggest not applying for anything more until you have 6-8 months of history.  You could then try a store card, if you shop at any stores that offer a decent card.  You could also consider an Amex charge card, like the Zync.  I got a Gold with only 8 months of history.