How many CC to build on?

[jdxprs1]

what other credit do you have? if those 2 cards are all you have, do one of the self lender loans and that way you will have an installment loan and 2 credit cards reporting. those 3 things alone will have your scores in the 620 range within a couple months.

[sarge12]

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@Anonymous wrote:

I am working on repairing my credit. I currently have 0 revolving accounts (CCs). Within the past week, I have been approved for a Capital One Secured and Discover secured.

Would it be in my best interest to get 1 or 2 more cards now so that they can all age together or should I wait until I've established my credit a bit more and then go for some more cards?

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While I agree with 3 cards being good as many have stated, I can not stress enough how with such a thin credit file, you may need to space these apps out by at least a few months. Going from 0 credit cards to 3 all at once is likely to throw up a red flag. Get one now, then wait 2-3 months to get the second one, then 2-3 months more to get the third, keeping the balances low the whole time. It is a mistake to try and get too much too quick. A good stable credit file takes time, it is a marathon, not a sprint.

[sarge12]

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@Anonymous wrote:

I am working on repairing my credit. I currently have 0 revolving accounts (CCs). Within the past week, I have been approved for a Capital One Secured and Discover secured.

Would it be in my best interest to get 1 or 2 more cards now so that they can all age together or should I wait until I've established my credit a bit more and then go for some more cards?

---

While I agree with 3 cards being good as many have stated, I can not stress enough how with such a thin credit file, you may need to space these apps out by at least a few months. Going from 0 credit cards to 3 all at once is likely to throw up a red flag. Get one now, then wait 2-3 months to get the second one, then 2-3 months more to get the third, keeping the balances low the whole time. It is a mistake to try and get too much too quick. A good stable credit file takes time, it is a marathon, not a sprint. Also, since both of the cards you have gotten are secured, I would wait a few months and try for one of the unsecured cards for people with low credit scores, but do not plan on keeping it for long as it will have higher fees and low limits. It is meant to be kept maybe a year, and then dumped for a no AF card after your score increases.