Secured Loan, Store Card, or another Secured Card with my NF Secured?

[Anonymous]

Hi all, I am wondering which card would benefit me most to up my low credit score of ~580.  I have the Navy Federal nRewards Secured Card, and was told to either get another secured card or instead apply for a store card (not sure if i can qualify for one now) to have different kinds of revolving credit.  I've read that secured bank loans would benefit alot too.  I also plan to have my mother add me as an AU to help as well.  Any advice on what store cards I would have most luck with in my credit score range?  Thank you for your help!

[Repo-ed]

I went to my CU, as I had two secured cards (I went there to get personal loan (unsecured) and an unsecured CU CC).

Since I already had two CCs reporting, I wanted to mix up my credit TLs as FICO likes.

So instead of app'ing for another CC along with the personal loan, I went ahead and asked for a motorcycle loan, so as to have an even better mix.  I've already seen a nice increase in my FICO scores and they did both apps, off 1 HP (1 month apart!)

[Wolf3]

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@Anonymous wrote:

Hi all, I am wondering which card would benefit me most to up my low credit score of ~580.  I have the Navy Federal nRewards Secured Card, and was told to either get another secured card or instead apply for a store card (not sure if i can qualify for one now) to have different kinds of revolving credit.  I've read that secured bank loans would benefit alot too.  I also plan to have my mother add me as an AU to help as well.  Any advice on what store cards I would have most luck with in my credit score range?  Thank you for your help!

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Depends on what is on your report.     If you have no installment credit on your report, then a secured loan makes sense, otherwise not.   

The AU off of a good account will help, more than another secured CC or a store card.

I would wait until AU reports, before applying for a store card or another secured card.    

[rootpooty]

first off youve started with the best secured out there. if thats the only one reporting if it was me i would ad 2 more cc's. i went with boa secured. cap one also has a decent program for the secured card. despite the bad rep out there they are great for rebuilding. nfcu does offer a secured loan and you can discuss it with them. be carefull with being added on as an au. if the account your being added on to has a high util it can lower your score. adding a secured loan with nfcu builds your relationship with navy that much more

[Lasardo]

I started with just a car loan 4 years old,on time pymnts, several baddies and a judgment. score 554. I then opened a secured card from cap 1 $400 CL in march. My friend added me as an AU on his amex he had opened since Jan, so not much history there but it bumped the score up 30 points . I then opened another secured card for Cap 1 $200 CL. ..as of yesterday score 637 ..opened a credit builder CD a few days ago..dropped me 13 due to a hard inquiry but not worried about it. He is going to add me to his oldest accnt,JC Penney store card, am curious to see what happens now.. Good luck ..keep us posted.