surprisingly Capital One approved my app for Secured card! I have 2, 5+ year old charge offs on my report and was still approved and for the minimum deposit (but I deposited more) So yay... I know my score will probably dip a bit from the 688 for this app but I felt I needed the 2nd card to help in the long run. Next I am going to get a car for my daughter financed shes paying 60% down Ill finance rest to have an installment loan 
In one year from now I should be in the 700 club
They should give you a nice bump 6 months from now with good payment history. Remember to keep at least a ~9% balance across your revolving accounts TOTAL for maximum FICO scoring and congratulations on the approval!
Starting Score: EQ: 383 2/2011thanks.. can you help me with the 9% thing.. I am baffled I use and pay my us bank secured card all the time but Im not sure what day they report to cra's. So should I call usbank and ask them when they report and pay down to 9% right before it reports?
Pull your report here at myFICO or your free credit reports at annualcreditreport.com to see what they are currently reporting. Once you monitor your credit, you can see when the creditors report. So say you have 2 cards with $500 a piece, so a total of $1,000 in available credit. Between those 2 cards, you want $90 to actually report. The interest will be minimal at $45 a card and will get you the maximum scoring possible.