I am getting a public savings secured card what should I have my limit be?

[flowerutah]

I am getting a secured public savings card what should I have my credit limit be? I got it set up right now for $500.00  is that good? I'm looking to rebuild my credit scores to buy a house, I plan on getting a second one in a few months should I have another one for $500.00? I plan on paying these balances off every two weeks with our pay check...  I have heard the higher the limit is the higher the points will go up is that true?

 things there are reporting to my credit now is my two cars ontime each month, medical bills on time and in about a month the public savings credit card will report too.. All on time

[Creditaddict]

Do you know what your credit score is, you may be able to get unsecured beginner cards vs secured.

Also if I remember correct Public Savings never graduates your car like Bank of America... Capital One will give unsecured CLI with their secured card.

[flowerutah]

I would need to get a secured card due to some things that are going on

 Our credit score right now are

pulled 1-19-11

Eqfax 571

Exper 557

Trans 490

Last year pulled 1-22-10

Eqfax 458

Exper 463

Trans 448

[Wolf3]

---

@flowerutah wrote:

I am getting a secured public savings card what should I have my credit limit be? I got it set up right now for $500.00  is that good? I'm looking to rebuild my credit scores to buy a house, I plan on getting a second one in a few months should I have another one for $500.00? I plan on paying these balances off every two weeks with our pay check...  I have heard the higher the limit is the higher the points will go up is that true?

 things there are reporting to my credit now is my two cars ontime each month, medical bills on time and in about a month the public savings credit card will report too.. All on time

---

Higher Limits do not give you a higher FICO score.   However, if you let balances report, a higher CL makes controlling utilization easier.  You can let more balance report  for the same utilization.   Higher Limits will be helpful in a few years, when you go for unsecured cards.  

$500 is a reasonable CL.     Public Savings Bank does not unsecure.   

[Wolf3]

---

@flowerutah wrote:

I would need to get a secured card due to some things that are going on

 Our credit score right now are

pulled 1-19-11

Eqfax 571

Exper 557

Trans 490

Last year pulled 1-22-10

Eqfax 458

Exper 463

Trans 448

---

There is no "our credit score".   Each person has their own.    

Are each of you is getting a secured card?

[flowerutah]

Just my husband will be getting the secured credit card sence we are using his credit to buy our house sence he is the only one that has the income coming in, So far we have one secred card coming in the mail, we plan on getting another one in a few weeks once we get paid to help with the credit scores more

[Wolf3]

I have 3 secured cards (Public Saving Bank, Capital One, HSBC).   Public Savings Bank is a good place to start if you have no credit cards at all.  

[flowerutah]

Did your points go up at all when you got your public savings card? I would like to get another public savings card sence they dont do any credit checks I dont really have the credit

[Wolf3]

---

@flowerutah wrote:

Did your points go up at all when you got your public savings card? I would like to get another public savings card sence they dont do any credit checks I dont really have the credit

---

 I did not pull my credit when I got it so I can not give you numbers.   But having no credit cards at all is not good for your score.   

If you mean you are considering getting a secured card in your name rather than your husbands to develop some credit history in your name,  that is a very good idea.   You might consider something better, perhaps Credit Union.    Capital One has a good securd card.