I called Barclay through the backdoor number posted on the forums and it turns out the reason for the delay is they wanted to make sure I was actually me. Interesting and also comforting that they do identity checks. I ended up getting approved with a 2.5k credit limit. 
@Anonymous wrote:Hi all,
At the beginning of the week, I was approved for a Capital One Quicksilver with 10k limit. I also currently have an Amazon Rewards card by Chase with a 1k limit. In the thread I posted about applying for the Quicksilver, another member recommended that I apply for another credit card as well to diversify. I'm curious about this and wanted clarification. What are the reasons to apply for another card at this point?
My total average age of accounts as reported by FICO is over 10 years, and my average age of accounts for just credit cards (3 closed plus 1 active and new one) is over 5 years according to Credit Karma. 3 inquiries on Equifax & TransUnion and 2 on Experian (Capital One checked all 3 twice since they lost my application info and I had to re-apply by phone. The other inquiries are for internet service from just under 1 & 2 years ago, respectively). Scores are all around 800 (although one dropped to 799 after the Capital One application).
I don't need an additional new card (as I just got one), so my question is whether and/or how it's worthwhile to have 3 cards on principle.
Don't bother going for another card unless you want one. You can build your credit report with two cards just fine. I started with two cards and it worked just fine. Down the line if you want to add cards you can always do that, but its certainly not necessary. It is personal preference.
;
@red259 wrote:
@Anonymous wrote:Hi all,
At the beginning of the week, I was approved for a Capital One Quicksilver with 10k limit. I also currently have an Amazon Rewards card by Chase with a 1k limit. In the thread I posted about applying for the Quicksilver, another member recommended that I apply for another credit card as well to diversify. I'm curious about this and wanted clarification. What are the reasons to apply for another card at this point?
My total average age of accounts as reported by FICO is over 10 years, and my average age of accounts for just credit cards (3 closed plus 1 active and new one) is over 5 years according to Credit Karma. 3 inquiries on Equifax & TransUnion and 2 on Experian (Capital One checked all 3 twice since they lost my application info and I had to re-apply by phone. The other inquiries are for internet service from just under 1 & 2 years ago, respectively). Scores are all around 800 (although one dropped to 799 after the Capital One application).
I don't need an additional new card (as I just got one), so my question is whether and/or how it's worthwhile to have 3 cards on principle.
Don't bother going for another card unless you want one. You can build your credit report with two cards just fine. I started with two cards and it worked just fine. Down the line if you want to add cards you can always do that, but its certainly not necessary. It is personal preference.
Meh. If say both cards have $500 limits you're probably better off apping for one more to at least have better util %
@Closingracer99 wrote:
@red259 wrote:
@Anonymous wrote:Hi all,
At the beginning of the week, I was approved for a Capital One Quicksilver with 10k limit. I also currently have an Amazon Rewards card by Chase with a 1k limit. In the thread I posted about applying for the Quicksilver, another member recommended that I apply for another credit card as well to diversify. I'm curious about this and wanted clarification. What are the reasons to apply for another card at this point?
My total average age of accounts as reported by FICO is over 10 years, and my average age of accounts for just credit cards (3 closed plus 1 active and new one) is over 5 years according to Credit Karma. 3 inquiries on Equifax & TransUnion and 2 on Experian (Capital One checked all 3 twice since they lost my application info and I had to re-apply by phone. The other inquiries are for internet service from just under 1 & 2 years ago, respectively). Scores are all around 800 (although one dropped to 799 after the Capital One application).
I don't need an additional new card (as I just got one), so my question is whether and/or how it's worthwhile to have 3 cards on principle.
Don't bother going for another card unless you want one. You can build your credit report with two cards just fine. I started with two cards and it worked just fine. Down the line if you want to add cards you can always do that, but its certainly not necessary. It is personal preference.
Meh. If say both cards have $500 limits you're probably better off apping for one more to at least have better util %
OP said they have 11k credit so util isn't really a major concern the way it would be with low limit cards.
@Anonymous wrote:Hi all,
At the beginning of the week, I was approved for a Capital One Quicksilver with 10k limit. I also currently have an Amazon Rewards card by Chase with a 1k limit. In the thread I posted about applying for the Quicksilver, another member recommended that I apply for another credit card as well to diversify. I'm curious about this and wanted clarification. What are the reasons to apply for another card at this point?
My total average age of accounts as reported by FICO is over 10 years, and my average age of accounts for just credit cards (3 closed plus 1 active and new one) is over 5 years according to Credit Karma. 3 inquiries on Equifax & TransUnion and 2 on Experian (Capital One checked all 3 twice since they lost my application info and I had to re-apply by phone. The other inquiries are for internet service from just under 1 & 2 years ago, respectively). Scores are all around 800 (although one dropped to 799 after the Capital One application).
I don't need an additional new card (as I just got one), so my question is whether and/or how it's worthwhile to have 3 cards on principle.
With your scores at 800 you don't need to do anything. Your scores are already optimized. You should be telling us what to do.
If you needed to optimize your scores, it's helpful, in terms of FICO points, to have 3 rather than 2 cards, and then let 2 report at zero, with the 3rd reporting a small balance. Reason: it's better to have less than 50% of cards reporting a balance, but not good to have all cards reporting zero. With 2 cards you can't thread that needle, with 3 cards you can.
@red259 wrote:
@Anonymous wrote:Hi all,
At the beginning of the week, I was approved for a Capital One Quicksilver with 10k limit. I also currently have an Amazon Rewards card by Chase with a 1k limit. In the thread I posted about applying for the Quicksilver, another member recommended that I apply for another credit card as well to diversify. I'm curious about this and wanted clarification. What are the reasons to apply for another card at this point?
My total average age of accounts as reported by FICO is over 10 years, and my average age of accounts for just credit cards (3 closed plus 1 active and new one) is over 5 years according to Credit Karma. 3 inquiries on Equifax & TransUnion and 2 on Experian (Capital One checked all 3 twice since they lost my application info and I had to re-apply by phone. The other inquiries are for internet service from just under 1 & 2 years ago, respectively). Scores are all around 800 (although one dropped to 799 after the Capital One application).
I don't need an additional new card (as I just got one), so my question is whether and/or how it's worthwhile to have 3 cards on principle.
Don't bother going for another card unless you want one. You can build your credit report with two cards just fine. I started with two cards and it worked just fine. Down the line if you want to add cards you can always do that, but its certainly not necessary. It is personal preference.
This. You're already in good shape score wise. It's just a personal preference.
