topic Re: Secured Card Payment Question!!!!!!!! in Credit Cards

Secured Card Payment Question!!!!!!!!

Anonymous — Mon, 09 Dec 2013 20:02:45 GMT

I have 2 secured cards one for $200 and one for $300 if i have 7% on the $200 and 6% on the $300 before the statement comes out and then pay in full on due date is that the best way to raise score or am i doing it wrong? comments appreciated

Re: Secured Card Payment Question!!!!!!!!

killer_queen229 — Mon, 09 Dec 2013 20:06:17 GMT

@Anonymous wrote:
I have 2 secured cards one for $200 and one for $300 if i have 7% on the $200 and 6% on the $300 before the statement comes out and then pay in full on due date is that the best way to raise score or am i doing it wrong? comments appreciated

Paying in general ON time is the best way to raise your score, besides not applying very, very often for cards and not charging too much that it's too much for you to pay off. I'm also curious as to why you have two secured cards.

Re: Secured Card Payment Question!!!!!!!!

Anonymous — Mon, 09 Dec 2013 20:14:19 GMT

Because i am trying to raise my score fast i just paid all the collection accounts on my report a month ago my transunion is 619 my experian is 601 i am trying to buy a house as quick as possible i need experian to be 640 i am thinking i can get to 640 faster with 2 secured cards plus i need 3 lines of open credit to get a house i have the 2 secured cards plus my car payment

Re: Secured Card Payment Question!!!!!!!!

killer_queen229 — Mon, 09 Dec 2013 20:17:20 GMT

@Anonymous wrote:
Because i am trying to raise my score fast i just paid all the collection accounts on my report a month ago my transunion is 619 my experian is 601 i am trying to buy a house as quick as possible i need experian to be 640 i am thinking i can get to 640 faster with 2 secured cards plus i need 3 lines of open credit to get a house i have the 2 secured cards plus my car payment

Scores can take a long time to rise. Just keep paying your credit card bills/car payments and you'll get there eventually. Two secured cards will not make the process of raising your score any faster and applying for cards does lower your score a bit too.

Re: Secured Card Payment Question!!!!!!!!

Anonymous — Mon, 09 Dec 2013 20:19:52 GMT

@Anonymous wrote:
Because i am trying to raise my score fast i just paid all the collection accounts on my report a month ago my transunion is 619 my experian is 601 i am trying to buy a house as quick as possible i need experian to be 640 i am thinking i can get to 640 faster with 2 secured cards plus i need 3 lines of open credit to get a house i have the 2 secured cards plus my car payment

A lot of companies do require so many lines before they'll consider an app, or even manually review it. I know for example, Fifth Third requires two tradelines, or their system automatically declines any credit apps and they have a whole lot of trouble getting anyone to manually review it.