2 credit cards or 3? for credit score?

myright

Hi guys,

I am trying to improve my credit score due to an old satisfied CCJ. I have 2 credit cards, vanquis and Capital One. I spend only £2-3 on each card and pay it off all in full at the end of the month, all in aid of improving my record.

I have another offer from AQUA mastercard. I am thinking of signing up. So I can spread my expenditure further and pay all 3 cards of each month, therefore my credit history looks even better.

My spending limits are:

capital one: £900
Vanquis: £500

Aqua would be £250 (if I sign up)

So my question is , should I go for another card? would it help my credit score? (and I am in no rush of acquiring credit from banks as I wont be getting a mortgage or anything till another 2 years). Also does having more cards mean the credit score goes down?

Lessbutbetter

So my question is , should I go for another card? would it help my credit score?

If i were you i'd stick to what you have. You're running two Sub prime credit cards well, and another year or two of the same credit management, will improve your credit worthiness, when you come to apply for that mortgage. Im certainly no expert but i wouldn't think opening another line of credit, would have more of a positive effect on your credit worthiness. I could be wrong. There are other boffins on here who can help you with this question. All i would say is relax with the credit "score" worries. Watching a number going up or down every month wont help anything, as the mortgage lender will assess your reliability in their own particular way. A number from exp/equi isn't going to be seen by them anyway and thats a fact.

Keep doing what you're doing.

myright

thanks for that.

But do you know if another credit card would have more positives than negatives on my credit wortheness?

Curr946

depends on your income, the more available credit you have access to reduces the amount you can borrow elsewhere. But in theory yes it would help. Why not try get a mobile phone or something that you wil get good value for money from, this to will build your credit rating.

skintdad

It is a good idea to have different types of credit accounts showing on your file, not just credit cards. repaid loans for example show that you can handle structured repayments well. As a mortgage would have structured payments then this could help