I need another secured card... suggestions?

[MovingForward_2012]

+1, during UW, I was actively controlling my utilization such that at closing my UTIL went down 2-3%!

[cwwatts1202]

Ok so let me see if I understand now. If we have 2-3 cards, with say a $200 CL each, we should let each of them report around $12 or so dollars each month?

[MovingForward_2012]

No, just let one card report $12 and the others zero. And remember you don't have to do this every month, just the month prior to applying.

[twall06]

vish1 meant rotate so they all get used some . And that may help with a cli later on if wanted.

[cwwatts1202]

So sorry for all the ?'s lol I just want to make sure I understand correctly and do this the best way possible to raise my husbands score. He has a 558 EQ FICO right now, it has to be a 640 or REALLY close to a 640 by late Nov. early Dec. right now we have an auto loan reporting, and when we pay the deposit for the cap one he will have that. I'm assuming we will be approved for the secured card through our credit union as soon as he applies. So say he has those 2 cards, those will be the only things helping increase his score over the next 8 months, with the exception of 2 collections that will be falling off in the next couple months due to the CRTP being up. I'm not sure if we'll see an increase from those falling off, so i'm not counting on one. I've been told people have had cc's for 6 months and gotten 50+ point increases just from the cc's. So, with that being said, now that you kind of know I need to build his score up over the next 8 months with these cards, how would you suggest I use them?

[twall06]

With the collection falling off and two cards he should see a good jump . And the positive payment history will help also . Just let the cards age once you get them and his score should keep increasing.

[MovingForward_2012]

For things you only pay cash for up to 80% of the limit (90% is considered maxed out) and then PIF one and leave the other at 9% or some low amount. It is okay to carry a balance but pay more than the minimum ALWAYS, and make sure it is back to 0% and 9% on your CR before you apply.