@Anonymous wrote:
I had planned to get the SSL after my fico score hit out of caution. If my 6 months mark hits and I have the full SSL reporting and not the sub 9% amount reporting, it would mess with my score. Do you think that's an issue worth worrying about?
I appreciate the advice on which cards to pick. I am still undecided on whether Amex or Discover is best. Amex may grow quicker so I'm leaning towards them.
Please don't worry about your score that much, if you pay on time, keep reporting balances low and have a plan, everything is going to be ok. If one month you have high util or maxed out loan reporting don't worry, just pay it down so you can get a higher score.
Getting the SSL to sub 9% is only to max your score. For a thin file you may get a few points even if it doesn't report down to 9%, but shouldn't worry about until you have to app.
Because you have 1 card since October and your second card since February, I think it is a good idea just to get a SSL. If you follow the guide you can finish in less than 10 days, some people finish in less time. Then wait 3 months for your next card, then Chase by November.
If you want to know how many points the SSL is helping you, then you need to wait for your FICO, then get SSL, so you can compare scores. But there is no need to do that. In the end it doesn't matter if it helped 20, 25 or 30 points. That will be the max points you can get with your profile. If you get the SSL this month, in 12 months the account will be 1 year old, if you wait 2 months, it will only be 10 months. You control the SSL, you can't control the SL on new credit cards.
Maybe your BofA cars still not reporting, and if you apply now for a third card they will only see 1 card with $300 limit and just over 4 month history. I don't think you should apply for another card right now, unless you want to start with $500 or $1,000. That's why I put the steps I would do. The 3 month wait is for your $1,000 BofA card report activity. Good luck.
