Should I apply for secured card?

[yejun]

I have 2 cap1 unsecured card with 500 and 750 limit. My current fico is 583 with 6 paid derogatory. I am wondering should I apply boa or citi secured card or just gardening?

thanks.

[LIGHTNIN]

Hi and Welcome to the forums,

Would need more info please..

What are the 6 paid baddies?  and how old are they?

Do you have any unpaid baddies?

Also how old are the 2 cap one CC's?  and are carrying balances on them or paying the CC's off every month?

[RobertEG]

With two established lines of revolving credit, that would not be my first focus.

I would concentrate first on cleaning up whatever is in your report that is impacting your score. 

Is there some compelling reason why you need an additional revolving line of credit?

[yejun]

Thanks for the reply.

All baddies are paid last year, so unlikely I can have them removed anytime soon. One cap1 is 2 year old, the other is new. I am wandering if secured card can help me get a high limit card a bit faster.

[LIGHTNIN]

I understand the collections were paid last year, but............. How old was the debts the CA;s had?

Do you know the DoFD (date of first default) on the debts or the drop dates on these collections?

If these debts were recently defaulted on, your CS took a huge hit. 

I would suggest sending a short & sweet  G W letters , to try to improve your CS.

You never know until you try.Search the forums here for the names of the CA's, to see if they are GW friendly or not.

I would suggest waiting on getting a secured CC, until your CS improves abit.

Keep paying your bills on time.