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Regular Contributor
Posts: 119
Registered: ‎02-24-2008
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Best Strategy

Ok, so I'm rebuilding my credit and a fairly decent pace.  I'm currently at 552 Ex(fico)11-2-10.  I have a Cap One Secured card with the $200 limit. 


My question is would it be more beneficial to apply for a WF or Citi secured card with maybe $500 CL or just add $$ to my Cap One.  im also an AU on DW BBRZ Gold with a whopping $100 limit but it hadn't reported yet.  thx

Starting Score: EX: 500 FAKO -TU: 497- EQ: 529 12/9/2010
Current Score:
EX: 560 TU: 550-EQ: 569 5/14/15
Goal Score:
700 across the board

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Community Leader
Epic Contributor
Posts: 29,559
Registered: ‎03-19-2007
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Re: Best Strategy

For long term improvement, you need to have multiple revolving lines of credit.  It moves you out of a "thin" scoring bucket.

Adding CL to an existing card is not as beneficial.  FICO scores % util of CL, and not CL.  Increasing your CL wont help, if you still maintain the same % util on the card.

The period of credit rebuilding is the time to take the hits for new inquiriies, and lowering of your average age of accounts, for their potential future benefit.

Regular Contributor
Posts: 117
Registered: ‎12-06-2009
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Re: Best Strategy

Also check into a BoA secured as another option...


Good luck!

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