@Anonymous wrote:
@gdale6 wrote:
For rebuild minimum is 3 revolvers.
I don't really agree with this statement. For maximum scoring benefit, 3+ revolvers are recommended. For a rebuild, they aren't really necessary IMO. I went through the first year or so of my rebuild with 1 revolver, taking my FICO scores up around 110-120 points from 619 to the 730's before I applied for 3 additional cards. I actually think in some ways it's smarter to apply for cards a bit later when considering a rebuild. For example, had I applied for those 3 cards when I had a 619 score maybe I would have been denied for 1 or 2. Even I was approved for all 3, what would the limits have been? Perhaps one of them would get stuck in CLI limbo forever like Capital One is known to do. Instead I started my rebuild and when I did apply for 3 cards I was approved with SLs of 5 figures on 2 of them and $6000 on the final one. The two with 5-figure SLs are now at $30,300 and $40,000 a year and a half later. I seriously doubt had I been approved for those cards at the start of my rebuild that they would have grown to anywhere near that amount now.
Did you request credit line increases, or did they provide them automotically?
I had a $10k limit with Citibank before my credit score started to tank and this remained the same. When I first got my Discover card, they started at a $600 limit and moved me to $4500 over last 3 years, which is where it's at now. Capital One however, was always $800 (even before my credit tanked). Out of the blue, they increased me to $7,800. I'd love to increase my credit lines. I usually get a letter or see that I'm eligible for a credit line increase, but haven't seen this in a while. Should I ask? And if so, do they run a hard inquiry?
Lastly, my credit scores are confusingly different. My one FICO (I think 3?) is around 751. Another is 731 (just dropped 12 points for some unknown reason, since nothing changed from previous month). My Vantage scores however according to CreditKarma are 795 and 800 respectively. I wonder if my low scores are because I don't have enough credit cards. I currently have 3. Citibank, Capital One, and Discover. Should I apply for another credit card? I have two inquiries on my report now (one a company just did without my approval). One I authorized for a loan. Would appreciate any advice.
Thanks,
