Should I open a second card?

[Anonymous]

My question to the OP here is what his current revolving debt is and/or what is his current reported utilization.  If we're talking a single $1500 credit line, that puts a constraint on how much debt we're talking here, which likely doesn't exceed the hundreds.  If the OPs only CC currently was in a bad place (nearly maxed out say) he wouldn't possess a 760+ FICO score.

As long as the OP doesn't have debt he can't currently pay off if he wanted to (or within a reasonable amount of time, say a few months) I take no issue with him scooping up another card.  At his age working a bit on file thickness is a great idea and something he'll be glad he did when he's in his 30's. 

[Anonymous]

Yes I wish I knew about my FICO at your age. I am 31 and oldest account (a loan) is 21 months. The more lines you have now serve as a pad for aaoa in the future

[Wrigley2172]

I suppose i should have specified more, my UTI is hardly ever above 10% month to month paying off statements in full but i do have the occastional large purchase such as a $900 car repair last month which then drives it up, so i was considering the second card as breathing room for when then that happens
I appreciate the response

[HeavenOhio]

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@Anonymous wrote:
I'd also say go for it.
After you try for a cli. With Disco. If you go capital one be aware triple hard pull.
Getting in with Chase early make sense with the 5/24 rule( you never know what you might open in next couple years.
I'd get cli. Disco if that's enough u r good if not take your pic..
Do you shop alot at Amazon? Both cards can grow quickly I know my Amazon prime store card helped my utilization got cli. After 2nd statement.

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5/24 is Chase's rule where you'll likely be denied if you've opened five or more cards within the past 24 months. You can easily stay at less than 5/24 by applying for a card every six months, i.e. a card in months 1, 7, 13, 19, and 25.

Stay away from store cards at this point. Consider them to fill in gaps once you have your major cards in place. That said, the Chase Amazon Visa might be an option.

[Wrigley2172]

@BrutalBodyShots
My UTI month to month is rarely more than 10-15% with statements always payed in full. I was considering the second card as breathing room in my credit for the occasional large charge such as car repair

[Wrigley2172]

Wanted to let everyone know i decided to call discover and they gave me an increase to $3000 with no hard pull! Thanks all very much

[HeavenOhio]

Contratulations. Give your increased limit time to show up on your credit reports before applying for anything new.

[Anonymous]

Good for you!
That was given because of the way you use your card. Income helps but not end all be all.
Now you can relax and give yourself time for your next move.

[Anonymous]

Congrats on the increase but if I were you, I would add two more cards. Ideal FICO scoring can’t happen until you have 3 cards.

Then once you have 3 cards, you’re good to just let things age and grow.  

[FlaDude]

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@Anonymous wrote:

Congrats on the increase but if I were you, I would add two more cards. Ideal FICO scoring can’t happen until you have 3 cards.

Then once you have 3 cards, you’re good to just let things age and grow.  

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Assuming you have the financial discipline to add cards and not run up balances, I'm with this 100%. The sooner you get cards now, the better off you'll be regarding average age of accounts (AAoA) down the road.