Should I garden? or go for Next Card?

[MacMan313]

Im trying to figure out my next step. Should I garden or reach out for another card. My goal is to purchase a vehicle in the next 3-4 months. Looking for prime optimization.

Recent BK in October 2014. I have three credit card accounts. All under 5% utlization. Two of my scores have passed the 600 threshold. 

[Anonymous]

Garden.

Big time.

[Anonymous]

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@Anonymous wrote:
Garden.

Big time.

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+100000

ficos dont really care whether you have 5k or 500k in revolving credit (this may be an exaggeration). the biggest thing is util. so if you can handle not spending much, or at least not letting much report, your utilization will be perfectly fine. especially with the recent BK, I dont see you getting approved for much else honestly.

[MacMan313]

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@Anonymous wrote:

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@Anonymous wrote:
Garden.

Big time.

---

+100000

ficos dont really care whether you have 5k or 500k in revolving credit (this may be an exaggeration). the biggest thing is util. so if you can handle not spending much, or at least not letting much report, your utilization will be perfectly fine. especially with the recent BK, I dont see you getting approved for much else honestly.

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I more worried about having multipe accounts reporting with low utli. Im trying to show that I can handle the credit lines. Is this not a good idea?

[Anonymous]

HIgh lines beget high lines. this is usually true. Howeverin your case, You're not quite ready to qualify for those high lines, and therefore must garden. Also high lines dont really affect installment loans as much.

[js0319]

Let your garden grow, and focus on your auto loan - you don't want to do anything to mess that up. Don't expect get anywhere near prime until you're at least in the 650+ range.

[Anonymous]

The bigger issue is that applying for another card means that you're going to get another HP, which will be detrimental in the near term. Since your auto-loan application is only 3-4 months away, I would avoid any further pulls until after that goes through. 

[happypill]

When I read this title I thought "Next Card" was a specific credit card.  I did a search and apparently it is a remnant of days gone by lingering in the back of my mind.  Next Card was a credit card company that went belly up in 2002 after the doc.com bust.  Their defining characteristics were that they took applications exclusively online, and that they partnered with Amazon originally to offer a card.  I guess they were just ahead of their time.

Here's a link to the articla I found if anyone is interested:

http://news.cnet.com/NextCard-credit-cards-cut-off/2100-1017_3-942675.html

[red259]

Garden. I don't see you getting anything good at this point and the new inq will make it all the harder for your future goals. You have some cards to work with so manage your credit responsibly and hopefully you will be able to move over into unsecured territory down the line. 

[chalupaman]

If you're trying to get an auto or mortage loan apping for cards should be the last thing on your mind. Garden, garden, garden, and yes, more gardening. Your BK is also still really recent.