Member
skicker
Posts: 14
Registered: ‎11-06-2012
What is the time frame for a secured credit card to boost a credit score?

Hello,

 

    I am new to this community. About 3 months ago I began looking at new homes, found one we loved, went to the lender and of course my credit score isn't where it needs to be. I recently paid down my credit card to less than 100 dollars (2,000 credit limit) and have cleaned up my credit report quite a bit by disputing claims. I now am at a 638, TWO points from being able to be approved for an FHA loan. So the lender told me to get a secured credit card, and leave a small balance on it. And in a month or so to get back with her. Does this sound like a reasonable idea? And if I do this about how long does it actually take to up my score? A month doesn't sound like a long enough time to give it enough time to go up. Any feedback would be very much appreciated! Thanks