Should I open more revolving credit.

[DR527]

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@Anonymous wrote:

Hi DR527.  You may want to recap your situation since a lot of time and posts have gone by.  Particularly:

What are your credit cards, on which are you an AU and which are in your name, of your AU cards which are the creditors no longer reporting, etc.  Also, can you confirm that by "no longer reporting" you mean, "not updating my balance each month"?  If so, can you confirm that the accounts still do appear on your report?

Also would be helpful to hear what your balance and CL are on each one.

It sounds like people on this thread are consistently urging you not to apply for more cards for a long time, and to work on your negatives.  It sounds like that message may not be coming through since in your last post you mention wanting to open up a new Citi card and a new Target card.

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I was originally looking for advice on whether or not I should open up another CC. I have four cards. Two are store cards Pep Boys with a $500 CL, zero balance on it. The other is a Kohls card with a $300 cl. Zero balance. The two credit cards are Credit One with a $900 cl and zero balance. And lastly I have a Costco Citi visa. With a $3500 cl  with a balance of $200. I am a authorize user my wife as the primary. We've had it since June. And every month they have reported too both of our credit reports. Today her report updated. And her score moved up. I look to see if mines have. And I hadn't, it didn't update last month either. I called up to ask about it. And was told that they(Citi) has no obligation to report the authorize user. Basically if they do they do. So I actually only have three cards reporting normally. And a forth. The card I use the most. Not reporting for me. 

[Anonymous]

Well, your utilization is very low.  You do have four open cards on your report, which is fine.  You will get no scoring benefit from a fifth card.

As other folks have mentioned, taking a year off of any further CC applications and using that time to try to get some or all of your negatives removed sounds like what you need to do.

The time off will cause all your accounts to age 1 year, which is good for three different scoring factors (age of youngest account and AAoA and age of oldest account).  It will also cause all of your inquiries to stop having any scoring harm. 

After that year is up and after you have (hopefully) succeeded in getting some of your derogs removed, you can apply for a fifth card in your name.

[Anonymous]

Hey.. my sister was in a similar situation as both of us and she did the Navy Credit route. She open an account online and waited till it was completely established(3weeks). . Then she applied online for the navy rewards card instantly approved 24K & immediately after CC approval appd online for CLOC for 15K approved as well! Her scores were in the upper 600s . Navy Credit is the way to go trust me ! Her highest limit was 1K on capital one before Navy!

[DollyLama]

For the more informed on the boards- would in this scenario of the OP having 3 in their name with 0% utilization, and being an AU on the only card with a balance not reporting because he is an AU. Would letting one of the 3 in his name report with a small balance boost his score?

[Anonymous]

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@DollyLama wrote:

For the more informed on the boards- would in this scenario of the OP having 3 in their name with 0% utilization, and being an AU on the only card with a balance not reporting because he is an AU. Would letting one of the 3 in his name report with a small balance boost his score?

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I would think so, as an AU card with a reported balance isn't counted... so I believe on his profile FICO would see zero reported balances and hit him for the usual 15-20 point loss associated with it.