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Pay Down or go with secured

Regular Contributor

Pay Down or go with secured

I am wondering what would be the best course of action for me. I want to know should I open a secured cc or pay down my already existing credit? Any advice will be well appreciated.
Discharged 4/28/2016
EQ-530/EX-600/TU-469

Current scores as of 2/06/2017
EQ-664/EX-667/TU-654

CapOne Quicksilver- $2,500

NFCU CashRewards - $12500

Overstock - $2200

Wayfair - $2200

HSN - $1250

Victoria Secret - $250

Discover IT - $1200

Amazon - $800

1 REPLY
Moderator Emerita

Re: Pay Down or go with secured

What are the negatives in order on your FICO EQ and FICO TU score reports? (screen 2, the balance scales) These are the factors hurting you the most, with the most damaging on top.

What's your current util? If your util is too high, you might have trouble getting even a secured card.

I'd improve my reports by lowering util before trying to get new credit. Your chances of approval for a good card will be much better.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007