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

Member

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

5 REPLIES
Super Contributor

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


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

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Regular Contributor

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

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 |Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Walmart Mastercard|Commence MC| Citi Double Cash| Amazon Prime Store Card|Discover It|Chase Freedom|Chase Freedom Unlimited|Amex BCE|Wells Fargo Cash Wise|Barclays Cashforward
$83,300 total card credit FICO Equifax-803, FICO Transunion-791, FICO Experian-771 , DTI-3.4%
Member

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.

Highlighted
Frequent Contributor

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 |Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Walmart Mastercard|Commence MC| Citi Double Cash| Amazon Prime Store Card|Discover It|Chase Freedom|Chase Freedom Unlimited|Amex BCE|Wells Fargo Cash Wise|Barclays Cashforward
$83,300 total card credit FICO Equifax-803, FICO Transunion-791, FICO Experian-771 , DTI-3.4%