@RaeC wrote:
My Fico is 522, while my other scores range from 560-580. I know starting with a secured CC is the best way to go, but I have a few questions. First off, my debt is not at all related to credit cards, as I have NONE and I know that hurts me! The majority is medical related, a charge-off, and a paid.
How quickly (on average) can a secured card raise my points? No way of telling how quick your scores will respond but generally speaking you should see improvement start 3-4 months after cards start reporting I know I deposit a certain amount, and that is my credit line, but does this automatically renew once that limit is paid off Yes
or am I forced to deposit another amount again?
Are there any suggestions for retail cards for poor credit that can potentially help me rebuild for future reference? Thanks in advance! Try the shopping cart trick for cards from stores you may shop at and anything you get will be SP's.
BofA secured card graduates after about a year of good history. Cap1 does not graduate but may also be an option for you!
Cap1 will also pull all 3 CR so use your judgement.
Last but not least build up your deposit amount before you apply for unsecured cards because some lenders report secured cards as credit cards and other may want to match what appears to be your credit limit down the road....... Good luck on your journey
Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Starting Score: 433
