Does it help your credit profile to have a Discover Card?
by Author on Tuesday, August 31st, 2010 | 4 Comments
I was told that having a Discover in addition to having the other 3 major cards will help you.
Why am I not getting any more answers?
LOL, I don't even know why I bothered asking my question on here.
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No more than any other card…And you don’t need a whole bunch of cards, it will just get you into financial trouble.
Get one you like, stay with it, and pay your balance off every month.
It doesn’t matter what credit card you have on your credit report. The only thing that matters is how well you pay and if your cards are not maxed out.
Discover is a major credit card just like Visa, Mastercard, and American Express.
2 or 3 major credit cards is considered optimum for your credit score. Of course carrying balances of more than 30% of your available credit limit, kills your score.
The more credit cards you have that you use responsibly, the better. Discover may look better to some lenders because it requires a good FICO score to get one so it may show to lenders that you’ve had better than average credit for at least the duration of the account. But does it affect your actual score? No more than a Visa or Mastercard.