Two CCs Too Few?

[Anonymous]

The two I have are

HSBC - Platinum - $400CL

HSPC - Orchard - $500CL

Would it be good for my fico over the next year to add another one or two?

[fused]

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Rocket01 wrote:

The two I have are

HSBC - Platinum - $400CL

HSPC - Orchard - $500CL

Would it be good for my fico over the next year to add another one or two?

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Do you know your FICO scores?  What is your current util on both cards?  Do need more credit?

[Anonymous]

TU 664, EQ 668, Ex 673.

Utilization is very low, but hard to keep it that way because of the low CLs ($500 & $400).

Don't "need" more credit, but would come in handy sometimes.

Most importantly, I'd like to optimize my fico in the next year.

[Tuscani]

You should have no issues getting the Amex Delta or a Citi card. Amex will pull EX, Citi will most likely be EQ.

[Anonymous]

Will it help my FICO to get another card or two?  I'd like to make the best lemonade as I can from the lemons in my CR...

[Tuscani]

In the long term yes.. You will take an initial hit for the Inqs and new accounts though.

[Anonymous]

That's what I was wondering.  I'd like the score to maximize in about 1 year, when I'm going to buy.  I can look at the reports regarding inquiries.  It says that they affect the score for 1 year.  I think the worse case 1 year is 4 inquiries, but that will change in the next couple of months.  Base on this info, what do you think?

[Tuscani]

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Rocket01 wrote:

That's what I was wondering.  I'd like the score to maximize in about 1 year, when I'm going to buy.  I can look at the reports regarding inquiries.  It says that they affect the score for 1 year.  I think the worse case 1 year is 4 inquiries, but that will change in the next couple of months.  Base on this info, what do you think?

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Just wait 13 months and the Inqs won't matter anymore.

[Anonymous]

So the inquires are a non-issue.  Good.

Will the fico score recover and improve in the next 12 months, if I get another CC or two?

[Tuscani]

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Rocket01 wrote:

So the inquires are a non-issue.  Good.

Will the fico score recover and improve in the next 12 months, if I get another CC or two?

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I said 13 months because eventhough Inqs stay on your reports for 24 months, FICO only cares about those <12.