Mission Lane "Silver Line"?

[scratchpad]

I am rebuilding and have charge offs I'm paying off. My FICO8 scores are 570-590. I currently have 3 cards:

1. Discover It - CL $500 ($300 SL secured, now unsecured) - $0 AF, 1% cash back

2. Mission Lane - CL $3000 ($1000 SL) - $0 AF, no rewards

3. Cred "Unicorn" Card - reports as $1500 CL, was my first "card" when FICO was closer to 400, used only for a $2 monthly sub for the CL

I pay my statement balance in full every month now.

I just signed into Mission Lane to pay my bill (I do it manually, but I have autopay enabled in case I forget) and it tells me I can apply for the "Silver Line Visa" card.

Looking at the application and reading the agreement, this card is $0 AF, 1.5% cash back, SL up to $3000.

Does anyone have this card?

I'm wondering if I should apply? I desperately want a cash back card with enough CL that I can actually use it for bigger purchases.

[JoeRockhead]

The question is going to be how much of a CL they give you being you already have a card with them. It makes me wonder what their exposure limit with you is going to be. There's always the fact that your scores are going to take a hit by adding a new account. $0 AF and the 1.5% CB are a plus... as long as there's no hidden "service", or other fees... and you can avoid their sky high interest by PIF every month, maybe it works for you. (read all the fine print)

Rebuilding credit seems like a daunting task that takes forever, but... one thing you should avoid is trying to force things by adding accounts. Many make the mistake by thinking if they can add more positive accounts, that it will speed things up. It doesn't generally work that way. The best thing you could do is to perhaps stand pat with where you are.

Focus on continued use of your existing cards sparingly, maybe allow your Discover card to report a small balance (no more than $40) then pay in full by the due date to avoid interest. Look at where your scores are and revisit other options in another 6 to 8 months. 

[JennF]

I have both thy regular card and the Silver version. Both are 0 AF cards. The Silver is a cashback at 1.5% like the Quicksilver from Cap1. I've never had an issue with Mission Lane and so far so good!

[pbtxlady]

It doesn't speed things up, but it can be very helpful when the baddies are aged off/eliminated.