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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
@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
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
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.
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.
@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