Greetings All,
First and foremost, Thank You All for contributing to myFICO. I have come a long way in my credit rebuilding journey because of these forums. I obtained a Bank of America Secured credit card in Jan/2013, for $300. I increased the limit to $1000 in June with a hard pull on TU. I applied for the Discover it a few weeks ago and was instantly approved for $3000. The card has not reported to either of the 3 bureaus yet. My Equifax fico is 772 per my Discover approval. My TU Fico according to myfico is 784. I beleive my Experian is around the same. Both Experian and Equifax are reporting identical accounts, including 2 paid/closed/never late Sallie Mae student loans from 1993, a furniture rental lease which is Paid/Closed in 2008/Never Late, and my BOFA Secured which I pay multiple times monthly to keep the utilization down.
I am looking to refinance my home, in about a year, which has been "deeded" to me by my Father, and am thinking another open account will help. Would it be wise to app for something BEFORE my Discover begins reporting? Which card would someone in my shoes apply for. Thanks again all. 
@goodscores wrote:Greetings All,
First and foremost, Thank You All for contributing to myFICO. I have come a long way in my credit rebuilding journey because of these forums. I obtained a Bank of America Secured credit card in Jan/2013, for $300. I increased the limit to $1000 in June with a hard pull on TU. I applied for the Discover it a few weeks ago and was instantly approved for $3000. The card has not reported to either of the 3 bureaus yet. My Equifax fico is 772 per my Discover approval. My TU Fico according to myfico is 784. I beleive my Experian is around the same. Both Experian and Equifax are reporting identical accounts, including 2 paid/closed/never late Sallie Mae student loans from 1993, a furniture rental lease which is Paid/Closed in 2008/Never Late, and my BOFA Secured which I pay multiple times monthly to keep the utilization down.
I am looking to refinance my home, in about a year, which has been "deeded" to me by my Father, and am thinking another open account will help. Would it be wise to app for something BEFORE my Discover begins reporting? Which card would someone in my shoes apply for. Thanks again all.
Welcome to the forum
IMHO you don't need any more TL's at the current moment unless there's a specfic card your looking to aquire.
Scores are good even w/o Discover reporting and if you want to app then yes do it before Discover reports
If it's alright with you I will ask that your thread be moved to CC forum for better results?
My AAOA according to TU myFico is 10 years. it is 10.2 on both Equifax and Experian. However, I only have 1 open account currently reporting, and the Discover which has not began reporting yet. I agree I need at least 1 more revolving account but am having a hell of a time deciding who. Scared to death of pulling the trigger
@goodscores wrote:My AAOA according to TU myFico is 10 years. it is 10.2 on both Equifax and Experian. However, I only have 1 open account currently reporting, and the Discover which has not began reporting yet. I agree I need at least 1 more revolving account but am having a hell of a time deciding who. Scared to death of pulling the trigger
Your AAoA is good. You will get the length of history rejection from some issuers. Is the BofA reporting 1k limit? As for rejection, think of it this way. One of the reasons why app sprees work is that inquiries bunched together don't really hurt you that much. They basically age off together. The real cost of too many inquiries is don't expect to app for anything from 6 months to 1 year. With 2 inquiries per bureau, the immediate harm to credit score from another inquiry or 2 is pretty minor. You are going to get new account hit anyway from Discover so really no more harm to credit report to app away.
Assuming BofA reporting 1k. I would consider AMEX charge card. If that gets approved, go for revolver right away. Don't worry if you get two HPs. Both likely on Experian and you can probably call Experian to remove one as duplicate if you want to wait on phone with their customer service.
I would even consider one more card after that. Depending on what happened with AMEX, I can make recommendations.