Do I need another card?

[JackStraw]

Hey folks, My scores are below. I have some old collection stuff (utilities, etc) 2 judgements, and a repo that according to my reports is scheduled to drop off next month. I currently have a car loan with Americredit and a card with First Premier. Both have had some baddies but are current and have been on time for the last 4 months. On the card I have a $250 limit and currently have a balance of $80, which I will pay off next month. My first question is, do I need another card to help with utilization and to set up a good payment history and if so, are there any that I would have a shot of getting approved for? Also, will my score drop if I apply for any and get rejected? Thanks, JS

[Creditaddict]

another card would probably help, but you probably need to go the secured route.

[fused]

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JackStraw wrote:
Hey folks, My scores are below. I have some old collection stuff (utilities, etc) 2 judgements, and a repo that according to my reports is scheduled to drop off next month. I currently have a car loan with Americredit and a card with First Premier. Both have had some baddies but are current and have been on time for the last 4 months. On the card I have a $250 limit and currently have a balance of $80, which I will pay off next month. My first question is, do I need another card to help with utilization and to set up a good payment history and if so, are there any that I would have a shot of getting approved for? Also, will my score drop if I apply for any and get rejected? Thanks, JS

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With your scores, I would concentrate on repairing before you rebuilding. Once your scores are in the upper 500's, you might to look at a secured card with BoA, they are a CCC you can grow with and they are prime. I suggest you begin by posting your baddies in the rebuilding your credit forum. GL!

[Anonymous]

Definitely BofA is one of the best secured cards to go with, because they offer great growth potential. I started my rebuilding with a 99/500.

[jaxstraw]

Nice Handle !!! I stopped trying to use the 'ck' years ago because many sites had it taken. I now stick w/ an 'x'.

I'm w/ the others. Your best bet would be secured w/ a prime like BoA.

Jax

[islandchild82]

A secured card would be a good way to go. Many people have had a lot of success here with the BofA one, and I believe some credit unions offer secured cards as well. Good luck!

[Anonymous]

I also agree on going the secured card route.

There are 2 halves to credit repair-- (1) the removal of baddies and (2) the addition of good TLs. 

I have lamented that I became so obsessed with part 1 that I waited a little late in the game to start part 2.  They are equally essential to rebuilding your credit.

Good luck!