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bebee25wj
Established Member

secured credit cards

seedling-transparent.pngShould I get a another Secured Credit Card??? My scores right now are ex: 524 Eq: 557 TU:??. when I first applied last month I received a Cap1 secured with a $200 limit (which I brought up to $300), but My scores were 579, 579, 595 back then. (I just recently took a hit from some lates on my student loans) and are the experian scores on here the scores that the lenders pull?

Message 1 of 5
4 REPLIES 4
doc101
Regular Contributor

Re: secured credit cards

if possible, try increasing your limit with Cap1 by making a deposit of $200 . Not sure about the EX scores, but if they are the same I'm in good shape. Try checking with your local bank or credit union for a secured card.........it does help


Starting Score:Equifax 543
Current Score:EQ659 TU 716 EXP677 updated 7/3/2016
Goal Score: 700


Message 2 of 5
lana17wj
Member

Re: secured credit cards

Ok I'll look into that thx!
Message 3 of 5
SnackTrader
Valued Contributor

Re: secured credit cards

I don't see a reason for score purposes that you would need to increase the limit on your existing card.

However, your card has only been open for a month, so many of the positive aspects of opening a tradeline haven't taken affect yet, only the negative things like declining AAoA and any INQs from application. Also - make sure your utilization is low.

How many other credit cards do you have at this point? If this is your only card, it may be helpful to add another secured card.

With recent lates on your report, it seems like it will be a long credit rebuild for you. Best of luck!

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 4 of 5
bebee25wj
Established Member

Re: secured credit cards

No that's my only one but I just became an authorized user on my husbands.
Message 5 of 5
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