Questions about raising score with CC Pt2, Can a company take your sec deposit?

Anonymous — Fri, 21 May 2010 07:35:11 GMT

Hello again and here are the rest of my questions.

Does having multiple secured and low limit credit cards, if they are the same age, help your score? I understand that credit utilization plays a large part in your score. I ask this because I noticed on the credit simulator on Credit Karma that if you get a credit card (no option for more than one) it would raise my score about 30 points. But when the credit limit on the card exceeded approx. $9,000 it added around 55 points to my score.

My last question. Looking at a number of lists for bad credit CC both secured and unsecured I noticed some of them are from issuers that I had cards from. Unfortunately, I or my business are in default on them. Most are in the business name but I personally guaranteed them.

Will these companies still issue me a card? If they do issue me a secured card can they then take my security deposit because I or my business owes them money? I think it's called their right of setoff, I think, but am not sure how the process works or if it has any limitations.

Again, everyone thanks for your help.

Re: Questions about raising score with CC Pt2, Can a company take your sec deposit?

RobertEG — Fri, 21 May 2010 08:09:54 GMT

IMHO, if your past credit history with a "new", prospecrtive request for credit is still in their files, and you still have unpaid debt with them, I think the answer would be obvious.

topic Re: Questions about raising score with CC Pt2, Can a company take your sec deposit? in Rebuilding Your Credit

Questions about raising score with CC Pt2, Can a company take your sec deposit?

Re: Questions about raising score with CC Pt2, Can a company take your sec deposit?