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Member
Moeisha
Posts: 7
Registered: ‎09-13-2007
0

Could a pre-selected BoA Mastercard help boost my score?

I have recently increased my score (Equifax) to 645 and currently just have a secure CC and a non-secure one (<1k limits).

 

Could opening a "pre-selected" BoA Mastercard with no annual fee and a min of $500 line help my situation?

 

I don't plan on using this card except charging it once or twice a month and keeping the balance around 3% just to show I'm using it.

 

Thanks

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Senior Contributor
myjourney
Posts: 26,254
Registered: ‎02-07-2013
0

Re: Could a pre-selected BoA Mastercard help boost my score?

[ Edited ]

Moeisha wrote:

I have recently increased my score (Equifax) to 645 and currently just have a secure CC and a non-secure one (<1k limits).

 

Could opening a "pre-selected" BoA Mastercard with no annual fee and a min of $500 line help my situation?

 

I don't plan on using this card except charging it once or twice a month and keeping the balance around 3% just to show I'm using it.

 

Thanks


Welcome to the forum

Pre-selected/Pre-approved/Pre-qualified does not mean an approval so be aware of this before hand

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Regular Contributor
mikey78
Posts: 732
Registered: ‎07-22-2013
0

Re: Could a pre-selected BoA Mastercard help boost my score?

Pre approved mail are just invitations to "hey let us come and do a HP for you but don't expect an Approval"
It's a sucker for you to come and apply


Current score TU 708, EX 686 EQ 715
Status I.T.Garden Till 08/2014
Frequent Contributor
Steelersboy
Posts: 343
Registered: ‎06-25-2013
0

Re: Could a pre-selected BoA Mastercard help boost my score?

depending on your overall credit report and card utilization, I would say yes as a short answer. More available credit can help boost your scores.

 
If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the best interest. - Benjamin Franklin
FICO Equifax-741, FICO Transunion-729, FICO Experian-740, Walmart FICO-754
Capital One Platinum|Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Walmart Discover|Sallie Mae MC Goal scores- 760+
Member
Moeisha
Posts: 7
Registered: ‎09-13-2007
0

Re: Could a pre-selected BoA Mastercard help boost my score?

I had a collection account that is paid off and some late payments in the past.

 

My credit utilization is at 3%.

 

I also have a steady income source and don't need to use credit cards. Just like to boost this process.

Frequent Contributor
Steelersboy
Posts: 343
Registered: ‎06-25-2013
0

Re: Could a pre-selected BoA Mastercard help boost my score?


Moeisha wrote:

I had a collection account that is paid off and some late payments in the past.

 

My credit utilization is at 3%.

 

I also have a steady income source and don't need to use credit cards. Just like to boost this process.


as long as you dont carry balances your scores should increase, cant say exactly how much though, recently, a balance was paid down and my score went up 20 pts in a matter of days, added a BOA card, score went up another 13 pts, each lowered my utilization

 
If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the best interest. - Benjamin Franklin
FICO Equifax-741, FICO Transunion-729, FICO Experian-740, Walmart FICO-754
Capital One Platinum|Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Walmart Discover|Sallie Mae MC Goal scores- 760+

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