Charge account VS Another Bank CC

Discussion in 'Credit Talk' started by dinob12, Jul 17, 2001.

  1. dinob12

    dinob12 Well-Known Member

    Recently I stated that I had 4 credit cards..2 providian accts with only $300 limits and FCNB with a $900 limit and a CCB with a 350 limit..Well my dad was going to add me to his DMB card which has a limit of $3000 which would look good as far as Credit Limits are concerned and then i would cancel my CCB card...

    Just found out my mother has a Target card with a $200 limit and 42 months of perfect payments..I was thinking would'nt be wiser to go on the target card to add some age to my CC history ??? And I do not currently own a Charge card and I hear that you need at least one to help your score...But the limit is lousy.....Any suggestions...?????
  2. Mist

    Mist Well-Known Member

    I think I'd go with the $3000 limit card as long as you are fairly sure that your Dad (and you) will have a very low usage of the card or at least keep the balance below 20%. Otherwise, the age of the other could help you and your mother could probably get them to raise the limit to at least $500.

    The reason for my opinion is that the debt to c/l ratios account for 30 to 35 percent of your score whereas the age isn't weighted as heavily. If someone knows otherwise, please correct me.
  3. dinob12

    dinob12 Well-Known Member

    Thank you so much for the info...

    GEORGE Well-Known Member

    3.5 years...DEMAND a credit line increase ($1,000?)...then add it...
    Some cards give you no benefit being an get any benefit...must be JOINT...

    If your DESPERATE...DO THE DMB...
  5. dinob12

    dinob12 Well-Known Member

    I would definetely go on the cards as a joint user..As a matter of fact I think I am going to go on both of them as a joint and close my Cross Country Bank account because that only has a $350 limit...After that I would have 4 bank cards and 1 charge account and just let them age...Thanks for the info
  6. Mirage

    Mirage Well-Known Member

    I was not aware that a AU has any pull on a CRA.

    If memory serves me right DMB does not or is very slow in reporting.

    I am surprise that Target with a $200 CL and 41 months of perfect payment has not received an increase. I think someone here posted that after 4 months Target raise the CL from $200 to $500.

    Back to your question: Why not apply for the Target card yourself. You have the CC as reference.

    Best regards,

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