I'd work on getting that util down to zero or close to it first.
Also, the fact that you have an Amazon Prime card shows you shouldn't have to pay for credit anymore... so you can get rid of any credit builder cards like anything with an annual fee with no rewards or secured cards that won't graduate.
@DuxMom1 wrote:Long Journey back from 8 yr old Ch 13. Gone! Good job, rebuilt credit! I started with secured personal loan and then lower credit credit cards. But they all helped me rebuild. I now am;
Fico 8 = EQ 745 .. TU 777 ... EX 725
Bankcard Scores = EQ 734 .. TU 793 .. EX 726
History perfect .. Utilization 18% .. Length 1 yr 8 mos. .. New credit 1 month .. Mix is Very Good
Length and new are due to needing new cars for Wife and I, refi mortgage and new home equity loan.
Only 1 credit card inquiry in last 24 months. Now a few cards with low limits and high annual fees. An Amazon Prime card with a $2,000 balane and a Mercury Card with $4,250.
Want to eventually move into better cards with better reward and higher limits. Should I start now? No plans for applying for any major credit lines in the next 12-18 months or so and then just a new auto lease. Any thoughts are greatly appreciated!
Seems to me this a perfectly opportune moment for you to go ahead and get a good card.
I would get one new card, and then wait a few months and reevaluate. Getting another card will help with your utilization too. But I would map out your card acquisition plan based on what cards you have and your natural spending. If any of the US Bank cards look like they fit, then I would get one of them first, and then plan out any Chase cards, followed by any others. And depending on how old some of your older less rewarding cards are, if I wanted to keep any of their ages, I would look into a product change or two for them. I know some around here will tell you don't PC so you can get the sub, but I am less motivated by SUBs - especially if they are only a couple hundred dollars. I think developing a strong base setup of cards that work together for you is better than chasing insignificant SUBs here and there. Once you have your base cards, and your credit score and limits are where you want, then go for the occasional SUB. But I say plan out your ideal setup and then start going after them one at a time every four to six months or so. It seems like when you take it slower, data points suggest higher limits per card. I see posters post their multiple card sprees, but more often than not I am not impressed because they are inferior cards for me and have lower limits. Also, as you build your setup, you will find that what you thought would be your ideal cards will change, so by going slower, you can modify your acquisition strategy in a way that leaves you open to get your new found next ideal card, and achieving your evolving ultimate setup. Good luck
13Oct22 Exp F8: 812