Should I apply for another credit card

[tscrutch]

I currently have 2 credit cards, a Walmart card, a Target RedCard, and a Nebraska Furnituremart card.

Do these store cards count towards the 3 credit card minimum that is suggested on this forum?

I'm considering looking for a new card with 0% interest on balance transfers.  That way I can transfer my balances from a couple of other cards to help my utilization look better.  

Does my file really need another card?  Can anyone suggest a good card for balance transfers?

[Pway]

What does your profile look like?  Baddies, collections, scores, etc.

[Anonymous]

If I am not mistaken, and from what I read on here bankcards take precedent over store cards.  So if those 3 are all store cards you may want to apply for at least 1-2 bank cards to better help your credit mix.

[tscrutch]

My current FICO 8 scores are TU 768, EQ 763, and EX 757. 

Credit Cards

Citicard with 7000 limit, 1150 balance

Cap1 QS1 with 2000 limit, 320 balance  One 30 day late (May 2011)

Store Cards

Walmart with 1200 limit, 350 balance  One 30 day late (Sept 2013)

Target with 3000 limit, 250 balance

NFM with 6000 limit, 515 balance

My only other baddie is a closed BofA card that shows 5 30 day lates and 1 60 day late.

I have a mortgage through Wells Fargo and a personal loan through Lending Club.

My goal is to get my mortgage scores up over 740 so that I can qualify for the best rates possible.

[Anonymous]

If those are your only cards get at least 3 to a zero balance to get rid of the ding for more than 50% of your cards reporting a balance. GW the lates. Scorewise you can probably get a Discover card. I hear they are good for BTs. You might also ask for a CLI from Walmart. If you do ask for a high CLI, such as 10,000 to 25,000. They'll counter with the max they'll give you.

[tscrutch]

Thanks for the advice.  I'll look into the Discover card and use it to get some balances to zero.  I'll also call Walmart to see about a CLI.

I have tried to GW the lates but haven't had any success as of yet.  I'll keep trying though.

[Anonymous]

I would not even bother with the lates - they obviously are not damaging scores much with high 700's.

[tscrutch]

I went ahead and applied for a Discover It Gas and Restaurant card and got approved with a 12,500 limit.  Once this card arrives I will do some balance transfers and that should help my UTI look really good when we start applying for mortgages.

Thanks for the advice everybody!

[Anonymous]

That's great. From what my research says and all I've read. Discover is a good CC company. Good customer service and the IT card is a good one from all the reviews! Congrats! Keep us posted about the Walmart CLI.

[tscrutch]

I went online yesterday with Walmart and tried my luck with the love button.  I got an approved for an $800 increase for a total limit of $2000.  I accepted that (no option to reject) and immediately did an online chat with customer service.  I told them I appreicate what they offered but I hoped I could get something in the $10,000 to $15,000 range.  They did a credit check and came back with a $6,000 limit offer.  I gladly accepted that.  

In the span of 3 hours yesterday afternoon I increased my total card limits by $17,300.  That should help my utilization a bit.