Picking the best card?????

[Anonymous]

Hello everyone! This is my first post so please bare with me. I use to have a score of 468 but after a lot of hard work my score is now 697. I have seen a lot of info on merchant cards and how they are suppose to help with my score due to the high credit limit. I have a short credit history and low credit limit on the two so called rebuilding cards I have. Do these cards really work and if so which one do I pick?

[fused]

I'm going to move your post to the credit card forum. You should receive more replies over there. Good luck!

[Anonymous]

---

@Anonymous wrote:

Hello everyone! This is my first post so please bare with me. I use to have a score of 468 but after a lot of hard work my score is now 697. I have seen a lot of info on merchant cards and how they are suppose to help with my score due to the high credit limit. I have a short credit history and low credit limit on the two so called rebuilding cards I have. Do these cards really work and if so which one do I pick?

---

High tflight!

High credit limits don't affect FICO in and of themselves.  Sometimes people like to seek out higher credit limit cards because they find it easier to keep their utilization below 9% when they're not PIF'ing.  The best way, of course, to manage utilization is to PIF and then let a little balance report.  You can do that with any CL and any number of cards.

[Wolf3]

IMO, you should pick a card from stores where you normally shop.  That way the card gets used regularly and you CL should increase over time.    

You might give preference to stores that offer rewards and co-branded cards.   

[Macroman]

Kohl's and Macy's get a lot of positive mentions.

I have had decent luck with the Dell Preferred Account.

Wal-mart and Amazon store card have gotten a bad rep here but I have both and think They're getting better. That may be because my credit picture is getting better.

[Anonymous]

tflight106 -

You mention that you have a short credit history.  Can you please define "short"?  Are you talking 6 to 8 months, a year, 1.5 years or 2+?

[marty56]

I would go for a Sams card.  Usefull in Sams/Walmart ad even though the initial CL may be low, they give regualr CLI's.  I went from 300 to 4100 in 5 years.  I never asked for a CLI.  Great card, forget the interest rate though.  Also check National City.

[Anonymous]

Thanks for the advice!

[Anonymous]

About 2 years. When I messed up my credit I just paid for everything in cash. I have just now really started to rebuild my credit. I think my score is fair but I don't have much available credit. I'm kind of afraid to apply for fear of being denied and having another inquiry on my report. I heard that getting a card from a online catalog is a way to increase you credit profile by showing a high limit because it reports just like a regular credit card

[Wolf3]

What online catalog?   Some are not good.