Additional Card to Go With Cap 1 Card

[Credit-hoarder]

My nephew is trying to rebuild his credit just like I started doing several mos. back and answered a mailer for a Cap 1 Platinum card the other day. He was approved for a $300 CL unsecured-good for a start. He has a car note but a somewhat thin reivolving CC history. I told him it would help his score to app for a retail card to go with the Cap 1 Visa and recommended he try Wal Mart/GECB since they're pretty good about SP increases and the UW requirements are somewhat relaxed. The question is should he try for it now or wait for the Cap 1 card to get some usage and the report? He said his current score is around the upper 500's to maybe 600 or a little better.

[redshoes]

Where does he bank? I was in the mid-500s when I applied for my Cap One secured. A few months of judicious use and the removal of a baddie bumped me up 120 points in a few months. When my EQ hit 673, I decided to try applying for the Chase United MileagePlus Explorer, since I do the majority of my business travel with them. Though my score was a bit low for the card and I was only approved for 2K, I felt pretty lucky to get it. Credit goes to my better-part-of-a-decade relationship with WaMu/Chase. I'd recommend living with the Cap One card for a few months, keep an optimal utilization, and then apply for a better card — possibly through his own bank — when his credit's in better shape. Even if he decides on the Walmart/GECB card in a few months, chances are good he'll see a higher credit limit.

[credit-hunter]

With Walmart cc you get a free Transunion fico score monthly which would help him monitor his score.