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6th card to improve credit?

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IcyCool7227
Regular Contributor

6th card to improve credit?

Is it worth getting a secured card like Citi to rebuild credit if I already have a Kohls Charge and 4 other cards? What I have is Amazon Prime Store Card, Capital One SavorOne CR, SuperCash hybrid cc, and Tomo. Quite honestly would an additional card improve my score anymore or is it best to just stick to the ones I already have until something better opens up? I have scores in the near mid 600s.

As of: 7/1/24
EQ: 781
prev. 785 on 3/28/24. 778 on 2/6/24; 773 on 1/26/24 & 750 on 1/7/24 & 626 on 6/7/24 & 652 in April 2023) - FICO 8
EX: 752 (prev. 761 on 755 on 2/6/24; 753 on 1/26/24 & 732 on 1/7/24 & 643 on 6/7/24 & 619 in April 2023) - FICO 8
TU: 759 (prev. 748 on 2/6/24; 744 on 1/26/24 & 689 on 1/7/24 & 6/7/24 & 654 in April 2023) - CreditKarma

Have:
- Amazon Prime Store Card: $5,000
- Capital One SavorOne Cash Rewards: $3,000
- Chase Freedom Flex: $500
- Discover it Cashback: $2,600
- Kohl’s Charge: $3,000
- Mercury Rewards Visa: $4,390
- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.
5 REPLIES 5
JoeRockhead
Senior Contributor

Re: 6th card to improve credit?

How old are the cards you have? how many inquires have you had in the past year? Just on the surface, without any other info I'd say I don't know that adding another account right now is going to help you, it may hurt you. You might want to consider staying in the garden to add age and positive payment history with what you have. Once your scores go above 670 or 680 there should be several unsecured options for an approval, and opportunity to grow. You're really not that far away if you're near the mid 600s now.

Message 2 of 6
Horseshoez
Senior Contributor

Re: 6th card to improve credit?

I agree with @JoeRockhead, based on the information provided, adding another card seems much more likely to hurt your scores in the short term versus helping them.

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 3 of 6
SouthJamaica
Mega Contributor

Re: 6th card to improve credit?


@IcyCool7227 wrote:

Is it worth getting a secured card like Citi to rebuild credit if I already have a Kohls Charge and 4 other cards? What I have is Amazon Prime Store Card, Capital One SavorOne CR, SuperCash hybrid cc, and Tomo. Quite honestly would an additional card improve my score anymore or is it best to just stick to the ones I already have until something better opens up? I have scores in the near mid 600s.


No, an additional card would not improve your score in any way.


Total revolving limits 650200 (530700 reporting) FICO 8: EQ 708 TU 714 EX 715

Message 4 of 6
markbeiser
Established Contributor

Re: 6th card to improve credit?

Focus on keeping your utilization below 30%, ideally below 10%, on the cards you have.
Pay balances before the statement date if necissary to do so.

Back to gardening until Late February 2025.
Current FICO8:
Message 5 of 6
pizzadude
Credit Mentor

Re: 6th card to improve credit?

I agree with the others, you very likely won't gain anything in the short term from opening an additional new card

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 6 of 6
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