Not bad--I suppose now this card falls into the "other" catagory" as it is a Retail card, not a Bank card, correct? But that's good because I have no retail cards at this point so I'm expanding my "types of credit"
Wondering, how much of a "hit" does your score taken when you obtain new credit? And what is the hit based on? The inquirey plus opening a new TL? How many points is a score likely to drop--I just got accepted for 2 cards this week--AMEX Delta and this Exxon Gas card.
that sounds like a good balance of cards--I am looking to model my credit behaviour similar to yours with respect to 5-6 or less cards all with less then 10% utilization varied over a range of credit types
It's easy to get "heady" with feeling "human" again after being turned down for a request to borrow a comb for several years. Don't push too hard, too fast. The new accounts and the new inquiries are going to drop your scores for a few months. How far and for how long is a guess. But usually it takes about 5 or 6 months of payments to get the credit scores back up to where they were or above. Then they climb as you make the payments ontime and use the cards/pay them down/use them again. The few months is a danger zone however. Don't apply for more cards during this time. You'll probably get rejected. Just take it easy. I got a WAMU pre-approved card and got the card with a $5k CL. Then I noticed my FICO was 727 on one CB. So I went out and bought a new car I desperately needed. Got it, too. That car shopping cost me two inquires on EACH of three CB's. Total of 6 new inquiries and one new auto lease on a new Range Rover. The net effect is that my FICO's dropped from the low 720's down to the high 600's again. Human, but just barely. I've (just yesterday) paid the lease on the Rover ahead for six months and wonder if that will have any effect on the FICO's or if I just have to wait for a while? I too am getting ready to buy a house and will have VERY little down payment. But I'm tired of paying out $5k/mo in rent (I live in NYC and it's expensive as hell to live decently here!) My income is slightly over $200k per year and the tax burden is over 50% without any legal deductions in sight. I'm single and have one grown child who's making her own money and cannot be claimed as a dependent. So without a house I cannot shelter any of my income from the damned tax collectors at the IRS. Of course the NYC state and city taxes hurt like hell, too. Oh well. That's why they call it the "BIG APPLE" ... living here takes a major bite out of your arse! Wait on the cards. Sorry for the ramble. Hope it may be helpful. Getting my credit back after a BK three years ago is NOT easy. It may never be back to my previous 800 plus levels, but then again so what? I can do very well with FICO's of 700 or 720. The climb isn't an easy one. Going broke was my only option. Car accident, broken back, other guy at fault and I had to sue. No disability insurance to cover ME. So I filed the BK. Now the lawsuit has settled and I have some serious money in the bank and a structured settlement income on top of my aforementioned salary. But when I traveled to Paris a couple of months ago, I had to take the laptop and move money from my bank to my one $5k credit limit card several times a month. I kept hitting the limits with the costs of the travel. I paid that one card over $30k in five weeks. I would be nice to have a better card and one that would allow me to charge more than five grand. But it will happen in time. Good luck. MI