Getting there- next steps?

[Anonymous]

Hi. I have been glued to the computer screen since I found this site, but I still have a few questions and curious about the next steps.

I am recovering from a foreclosure in 2013, listed as redeemed because they recovered what was owed in the sale.

I have an old auto loan. Never late, paid in full, due to drop off in a year or two. (Newer cars have been paid in cash so no new loans)

I got a Cap1 card 11 months ago SL 300 CL 3300 CB2483 but I will be paying this down significantly over the next 2 months

Vantage scores TU 662 Eq 667 2 and 3 inquiries respectively (before last night). TU started at 606, went to 592 with the HP, then has been up since. Hightest was 703, now down a bit due to the balance on Cap1.

Also have a 20,000 "other" loan since 9/15, never late.

Last night I noticed on credit wise that a new card would take my score up so I looked around and found the CFU. CK said it was a good chance of approval, so I applied and got a 3000 limit.

On the high from that approval I couldn't help myself and hit the luv button on my cap1 card. It said 1-2 days for a result there.

I have seen some people allude to needing 3 credit cards to make a difference, but I can't find any hard and fast rule on this. Thoughts considering my history and current limits?

I am really jonesing for the chase amazon card now too. How long is it advised to wait for apping a second chase card?

I would also like to app my CU for a low interest rate card. When should I do this?

 Any other advise? I am open to any and all suggestions I am planning to garden now and/or after apping these other 2 cards. I just want what will make the biggest impact on my score. (positive impact, of course)

[Anonymous]

One more thing, slightly OT from this post- I just noticed that the term for my "other" loan with Eq is 10 months when it is supposed to be 120 months. Will this affect my scored when the 10 month mark hits?

[Anonymous]

The reason at least 3 cards are suggested is because if half or more of your cards report a balance you get dinged. But you need 1 card reporting a balance between 1-9% (for that card). If you only have 2 cards then that's half of the cards with a balance, which means getting dinged.

[Anonymous]

OK, that makes sense. But it reminded me of another question LOL. With the new CFU I am planning to use it for all my expenses for the cash back, and PIF every month. When is the best time in the cycle to PIF? Should I wait for a cycle to end and a min payment due to post, or can I pay it off earlier and show 0 at the end of the billing cycle with no ill effects?

[Anonymous]

As long as 1 card reports a small balance it doesn't matter which card it is.

[RonM21]

Doesn't matter which card, and the ones you.want to report zero, you want to pay those before the cycle end date (statement cutting date).