11-13-2008 05:56 PM
I have just been fixing my credit for the last 4 months and has improved almost 100 points. It is still very low. Currently all of my debt are closed accounts (only 1 credit card), everything else is unpaid medical, cell phone bills etc... If I get a secured credit card will that help me get my score higher? If so, what kind should I get?
11-13-2008 06:00 PM
11-13-2008 06:02 PM
Secured cards help. I have/had 2 secured cards, one through BofA which graduated and one through Orchard. They are treated the same as all other CCs.
Choose a CC that has the potential to graduate after 1 yr. I'm partial to BofA.
11-13-2008 06:03 PM
11-13-2008 06:09 PM
My lowest is 533 as of yesterday (experian) but just 4 months ago it was 440. and the other two were 533 and 565 4 motnhs ago but I haven't pulled those two yet.
i know they are horrible but I never cared about my credit before and never bothered to try. Now I'm desperate the fix them.
11-13-2008 06:11 PM
11-13-2008 06:12 PM
BOA will approve you for secured as long as you do not have a BK.
It also depends on your credit situation. I had apped Aug. 07 and was denied for having no BKs or PRs, but I had a 2 yo CO, 3-4 CAs, 2-3 other COs, and an EX FICO of 550-580 or so. However, I did app 3 months later after I cleaned everything and was approved for the 99/500 counter offer and that ungraduated in September. And yes, great card to grow with.
11-13-2008 06:15 PM
11-13-2008 06:17 PM
Will a bank allow me to get a secured credit card with them if I owe them money? Such as a prior bank acct which accrued bounced check fees and now I owe them money?
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO