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? for FICO Bot, is it better to have 2 $500 cc or one $1,000 limit cc?


debtmamma
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2 500's would be 2 payments, just what you need if you need tradelines

as far as the fico model, you have to consider utilization, are they from the same company? if so they may look like duplicates

as far as having 1 1000 CR gives you more credibility somene trusts you with 1000.00

and new credit may be based on what your previous high limit is

so it depends on what you need

I'd rather have the 1000 personally...higher limit, 1 payment...easier to manage

and with 2 accounts you will take a hit when they start posting

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Monday am I'm going to the CU and hoepfully will get approved. Would it be better to have 2 with $500 or one with $1,000 or does it really not matter?:confused:

I keep reading it's good to have 3 - 4 cc for the FICO bot. :)

what are you trying to achieve exactly? WIth more info we can give you some more input

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I'm not sure I guess. :confused: Just a better FICO score? I read you need at least 2 major credit cards. Then I also read of people's who's score went up when a TL with a lower credit limit was closed or removed. :confused:

My CU pulls EQ only (whoohoo my good report) but they do verify income through your paystubs or direct deposits. They will grant about 10% of your annula income for each product (cc, personal loan, line of credit for your checking account) and no more than 25% total. My dd are around $900/per month so I'm guessing I should be elgible for around 1,000 CL from credit cards.

The collection getting taken off EQ really helped, my score went from 603 to 738 literally overnight. The FICO bot always says though I need more revolving credit/history of a mixture of debt.

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