Reply
Contributor
bearsfan34
Posts: 103
Registered: ‎03-15-2011
0

Need help deciding, Secured Card or not

A month ago my credit wasn't all that great so I figured I'd apply for a Capital One secured card. I got approved but after I got a couple collections removed. Now my score is a lot better and I keep getting pre approvals for their other cards. The only thing is that I'd hate to have another inquiry on all three. Should I just eat the secured inquiry and apply again? Will it be better in the long run? Or should I just stay with the secured card. P.s I have not put my deposit down yet for the secured cc. Thanks for any advice!

Starting Score: 557 2/12
Current Score: 664 EQ 681 TU
Goal Score: 710


Take the FICO Fitness Challenge
Valued Contributor
wmarat
Posts: 1,754
Registered: ‎11-03-2007
0

Re: Need help deciding, Secured Card or not

IMHO, check out credit unions and do not deal with Cap 1.

IN VINO VERITAS.
Valued Contributor
smc733
Posts: 1,262
Registered: ‎05-13-2010
0

Re: Need help deciding, Secured Card or not

Stick with the secured card from CapOne, but don't put all your eggs in one basket.

 

Find out your FICOs (get at least one, if not both reports from here at myFICO), then we could see where to go from there.  It may be worth it to wait a little while, and rather than get stuck in subprime toy card hell (where they all want to give 3 digit limits), I've seen the best to wait a while with one secured card, then get a nice prime card...


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
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}