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How many cards should I try to get during repair?


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I have some old CO's for credit cards, past SOL, falling off reporting over the next year. My scores are still pretty low (535-615 FAKO), but I have good reporting from mortgages and cars over the past 4 years. I don't have any current credit cards. I got a pre-approval offer for a platinum cap1 card without annual fee, no interest for 6mos and 4% over prime after that. I applied online and was approved! I didn't get a CL yet, but I figure it was the best offer yet. I was declined last week for a Lowe's card.

I don't want to get alot of cards, but I do want to add some TL's with revolving credit. What's a good number? I know Cap1 doesn't report CL, and am not sure how that impacts my CR.

Any advice would be helpful!

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*newbie but my opinion *

I went with Orchard first -- just 1 card for 12 months, then researched and obtained a better one with no annual. Remember - age also counts so don't cancel the old one out just because you get a new one.

My understanding -- applying around and opening up a lot of new credit and getting inquiries as well will damage your credit too.

Be patient, get some history established with the new card before you start obtaining any more.

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You'll need at least one revolving account, however, how many after that is up to you. Keep in mind it's not all about your utilization, but also about age. That is, a 5 year old cc with a $1k limit does better for your score than a 1 year old cc with a $1k limit, if the utilization is the same.

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