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Regular Contributor
rm3
Posts: 153
Registered: ‎03-02-2012

Unsecured and Secured to rebuild???

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‎10-08-2012 04:03 PM

Would it be counterproductive to have an unsecured and secured card reporting while trying to rebuild? I currently have two low limit cards ($300CL each) and just got approved for NFCU nrewards unsecured visa (1000CL). I want to open the secured nrewards to add another card that I could make CL increases to until  the CL is 5000, if that makes any sense. Any suggestions/advice? Trying to get mortgage ready for first home 12/2013 

Starting Fico: 536 (3/12)--Current Fico: 647 (4/13)--TU Fico: 687 (4/13)--EX Fico: 617 (4/13)
         
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Senior Contributor
Wolf3
Posts: 3,178
Registered: ‎01-24-2010

Re: Unsecured and Secured to rebuild???

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‎10-08-2012 04:08 PM

rm3 wrote:

Would it be counterproductive to have an unsecured and secured card reporting while trying to rebuild? I currently have two low limit cards ($300CL each) and just got approved for NFCU nrewards unsecured visa (1000CL). I want to open the secured nrewards to add another card that I could make CL increases to until  the CL is 5000, if that makes any sense. Any suggestions/advice? Trying to get mortgage ready for first home 12/2013 

I think it is a good plan. The high CL card can help get higher CL in the future.   And it helps tremendously with your utilization.  It will look good on your report in 14 months.

 

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