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New Cell Phone & Secured CC

New Cell Phone & Secured CC

Hello everyone. I'm beginning my journey to 700+ Credit.

 

My FICO is 621.

 

I just opened a new account with Sprint that's on autopay so no chance of missing a payment.

 

I also signed up with a Cap One secured credit card that's also on autopay. I have a $300 deposit with a $451. I try to charge about $150 per billing cycle to keep my 30% utilization.

 

 

What kind of credit score can I expect to see once my Cap One and Sprint bill start reporting?

Message 1 of 6
5 REPLIES
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Moderator Emeritus

Re: New Cell Phone & Secured CC

Do you have any other CCs reporting? You have a 621 now; does this include the CapOne? What other open accounts do you have?

 

The Sprint won't report.

Message 2 of 6
Established Contributor

Re: New Cell Phone & Secured CC

Cell Phone, Cable, Electricity never report to bureaus. They pull your credit while opening the account and will only report if you miss payments. So they can do harm to your credit report rather than helping to improve. Try applying for First Progress Secured Credit Card. Its pretty good and reports to all 3 credit bureaus. I have it for past 4 months and doing good stuffs for my Credit.


Starting Score: EQ: 499
Current Score: EX: 659, EQ: 622, TU: 659
CHASE Freedom Unlimited: 1K, CHASE Sapphire: 5K, Barclay Arrival+: 5K, CapOne: 3K,CapOne: $3K, AMEX BCE: 3.9K, AMEX BCE: 1K, WellsFargo: 300, Discover: 8.7K, DISCOVER IT: 2K, CITI Double Cash:2.8K, Southwest Premier: 2K, Express: 2.5K, Paypal: 3.6K, Amazon: 2.5K, Macys: 7.6K, Walmart: 1.5K, BestBuy: 1.5K, Lowes: 6K, HomeDepot: 3K, BOA Cash Rewards: 300
Message 3 of 6
Established Contributor

Re: New Cell Phone & Secured CC


sghosh5 wrote:

Cell Phone, Cable, Electricity never report to bureaus. They pull your credit while opening the account and will only report if you miss payments. So they can do harm to your credit report rather than helping to improve. Try applying for First Progress Secured Credit Card. Its pretty good and reports to all 3 credit bureaus. I have it for past 4 months and doing good stuffs for my Credit.


+1

 


2010: 475 EQ 2011: 503 EQ 2012: 600 EQ2013:632 EQ
Starting Score: 634 EQ-3/13/13
Current Score: 706 EQ-8/29/13 703 EX-7/12/13 705 TU-8/9/13
Goal Score: 700

Take the myFICO Fitness Challenge
Message 4 of 6

Re: New Cell Phone & Secured CC


sghosh5 wrote:

Cell Phone, Cable, Electricity never report to bureaus. They pull your credit while opening the account and will only report if you miss payments. So they can do harm to your credit report rather than helping to improve. Try applying for First Progress Secured Credit Card. Its pretty good and reports to all 3 credit bureaus. I have it for past 4 months and doing good stuffs for my Credit.


I've had a Cap One secured card for just over a month. Was that a bad decision? Should I get another secured card?

Message 5 of 6
Regular Contributor

Re: New Cell Phone & Secured CC

What else is on your report? Any baddies, late pays or loans, collection accounts?

Start: (2-26): EQ 602 (Myfico) TU 579 (Credit Karma) EX 634 FAKO
Current: (7-12): EQ 690(myfico) WalmartTU 696 EX 689 (lender 6-3)
1st Goal: 680 across the board - DONE June 2013!
2nd Goal: 725 across the board
Message 6 of 6