topic Re: New credit card question in Rebuilding Your Credit

New credit card question

Anonymous — Sun, 12 Jul 2009 01:44:38 GMT

I just open a navy federal credit union secured credit card account for $500, should I increase the limit to $1000 or open a second secured account to boost me credit score?

Re: New credit card question

Anonymous — Sun, 12 Jul 2009 01:49:02 GMT

The amount of the CL only comes into play for UTIL.

Re: New credit card question

Anonymous — Sun, 12 Jul 2009 02:17:41 GMT

So open a second account?

Re: New credit card question

Anonymous — Sun, 12 Jul 2009 02:26:21 GMT

IMO everyone should have at least 3 CCs. Remember a CC is new until the 1 year old mark,

Re: New credit card question

Anonymous — Sun, 12 Jul 2009 02:27:39 GMT

Thanks

Re: New credit card question

Anonymous — Sun, 12 Jul 2009 14:19:38 GMT

@Anonymous wrote:
IMO everyone should have at least 3 CCs. Remember a CC is new until the 1 year old mark,

Happy, is this some sort of cutoff time for FICO & creditors? I ask because I have a few new accounts & hope it doesn't take several years for them to be a positve factor in my reports.

Thanks.