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Have two cards, need a third

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mysterythemoon
Regular Contributor

Have two cards, need a third

I have a Discover It and Cap1, both secured($200 CL each). Started rebuilding in July with scores in the high 400's, a dozen baddies and no credit whatsoever. Since then, I've EE'd some baddies, disputed others and had them disappear, and now I'm down to two baddies (totaling $170), both with the same CA... a CA that this board has said mulitple times will do PFDs. That said, I do also have a CO from Kohl's for almost $500 that I have NOT paid (trying to figure out if I should continue to ask for PFD, or just call and offer a settlement). So as it stands, my FiCO scores are between around 597-637. AAoA is 4 months. Debt Util is 3% monthly. So my question is, should I attempt to appy for a third credit card that is unsecured at this time, or just go pick up a third secured one? I know FICO likes three cards. I plan on appliying for a Cap1 unsecured card in a few months (either the Plat or QS) but that's a little ways off. Feel I shoud have a third card before that and continue my score improvement. Thoughts?

Started on July 4th, 2016 with 400's FAKO scores, no FICO, a dozen baddies and no credit of any kind.

As of March 2018, Before The Fall:
AmEx Blue Cash Everyday: $12,600
Chase Sapphire Preferred: $10,000
Bank Of America BankAmericard: $6,000
Capital One Quicksilver One: $5,500
Citi Diamond Preferred: $5,400
NFCU Cash Rewards Visa Signature: $5,100
NFCU Go Rewards MasterCard World: $5,000
Wells Fargo Propel: $3,500
Barclay's Uber Visa: $2,500
AmEx Starwood Preferred Guest: $2,000
Citi Double Cash: $1,500
AmEx Hilton Honors: $1,000
Discover It: $600
Capital One Platinum: $500

TOTAL 2018 CREDIT LINE: $61,200

JUNE 2023 UPDATE
2020: COVID toppled me. All old accounts went into default. Business lost. Car repossessed.
2021: Cap1 let me back in (one secured/two not). Secured Mission Lane. AU on AMEX Gold, Citi Premier and Chase Sapphire. Car loan approved without cosigner for $20,000. All current.
Currently: No lawsuits. Thinking most SOL have expired on CC debt. Fingers crossed my math and memory are correct.

CURRENT SITUATION:
Mission Lane Secured: $3,400 (SL $400 -- unasked for CLI)
Capital One Secured: $300
Capital One QS1: $300
Capital One Savor: $1,000
Chase Sapphire Preferred: $10,000 (AU)
AMEX Gold: No Preset Limit (AU)
Citi Premier: $8,500 (AU)

SPRING 2026
ALL BADDIES DROP
Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Have two cards, need a third

How long have your current CC been open?

Message 2 of 6
Anonymous
Not applicable

Re: Have two cards, need a third

Message 3 of 6
Anonymous
Not applicable

Re: Have two cards, need a third


@mysterythemoon wrote:

I have a Discover It and Cap1, both secured($200 CL each). Started rebuilding in July with scores in the high 400's, a dozen baddies and no credit whatsoever. Since then, I've EE'd some baddies, disputed others and had them disappear, and now I'm down to two baddies (totaling $170), both with the same CA... a CA that this board has said mulitple times will do PFDs. That said, I do also have a CO from Kohl's for almost $500 that I have NOT paid (trying to figure out if I should continue to ask for PFD, or just call and offer a settlement). So as it stands, my FiCO scores are between around 597-637. AAoA is 4 months. Debt Util is 3% monthly. So my question is, should I attempt to appy for a third credit card that is unsecured at this time, or just go pick up a third secured one? I know FICO likes three cards. I plan on appliying for a Cap1 unsecured card in a few months (either the Plat or QS) but that's a little ways off. Feel I shoud have a third card before that and continue my score improvement. Thoughts?


If you are able to apply for Cap One platinum in a few months I would just sit tight until then - in the long run its not going to make a difference. The third card is really just to help with peaking your UTI portion of your scores, which does not have any memory, so adding it in now will not make any difference months from now.

Message 4 of 6
mysterythemoon
Regular Contributor

Re: Have two cards, need a third

I've had my two credit cards for since July.
Started on July 4th, 2016 with 400's FAKO scores, no FICO, a dozen baddies and no credit of any kind.

As of March 2018, Before The Fall:
AmEx Blue Cash Everyday: $12,600
Chase Sapphire Preferred: $10,000
Bank Of America BankAmericard: $6,000
Capital One Quicksilver One: $5,500
Citi Diamond Preferred: $5,400
NFCU Cash Rewards Visa Signature: $5,100
NFCU Go Rewards MasterCard World: $5,000
Wells Fargo Propel: $3,500
Barclay's Uber Visa: $2,500
AmEx Starwood Preferred Guest: $2,000
Citi Double Cash: $1,500
AmEx Hilton Honors: $1,000
Discover It: $600
Capital One Platinum: $500

TOTAL 2018 CREDIT LINE: $61,200

JUNE 2023 UPDATE
2020: COVID toppled me. All old accounts went into default. Business lost. Car repossessed.
2021: Cap1 let me back in (one secured/two not). Secured Mission Lane. AU on AMEX Gold, Citi Premier and Chase Sapphire. Car loan approved without cosigner for $20,000. All current.
Currently: No lawsuits. Thinking most SOL have expired on CC debt. Fingers crossed my math and memory are correct.

CURRENT SITUATION:
Mission Lane Secured: $3,400 (SL $400 -- unasked for CLI)
Capital One Secured: $300
Capital One QS1: $300
Capital One Savor: $1,000
Chase Sapphire Preferred: $10,000 (AU)
AMEX Gold: No Preset Limit (AU)
Citi Premier: $8,500 (AU)

SPRING 2026
ALL BADDIES DROP
Message 5 of 6
Anonymous
Not applicable

Re: Have two cards, need a third


@mysterythemoon wrote:
I've had my two credit cards for since July.

Then you should be able to app for Cap One unsecured in January.

Message 6 of 6
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