Is this a stupid idea?

[Anonymous]

I'll admitt I don't know much about  "gardening" so bear with my while I consulte the experts. My credit isn't bad, but I really want a particular credit card and my score is 35 points lower than the average approved score for this card. I don't want to apply and risk the hard pull for nothing. So short of just being patient and making payments on time I feel like there really isnt much a I can to get over this hump. 

Would it be a bad idea to open a secured card to try and boost the score? My logic is:

-There would be no hard pull

-It would add another reporting account 

-It would decrease my debt/credit ratio

-In 6 months they refund the deposit and it becomes a real credit card 

Thanks guys

[Anonymous]

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@Anonymous wrote:

I'll admitt I don't know much about  "gardening" so bear with my while I consulte the experts. My credit isn't bad, but I really want a particular credit card and my score is 35 points lower than the average approved score for this card. I don't want to apply and risk the hard pull for nothing. So short of just being patient and making payments on time I feel like there really isnt much a I can to get over this hump. 

Would it be a bad idea to open a secured card to try and boost the score? My logic is:

-There would be no hard pull

-It would add another reporting account 

-It would decrease my debt/credit ratio

-In 6 months they refund the deposit and it becomes a real credit card 

Thanks guys

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What card are you talking about that has no HP AND unsecures? What are your current scores?

[Anonymous]

The secured card I mentioned in a PNC card. They ensured me they would not do a HP. 

[Anonymous]

Bump? 

[Anonymous]

Personally, i think a small installment loan would do more for your credit than a secured card.

[FocusedAndDetermined]

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@Anonymous wrote:

Personally, i think a small installment loan would do more for your credit than a secured card.

^^^^

[Anonymous]

Is there a credit company you would recommend for this? Im hesistant because I dont want a HP. 

[Anonymous]

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@Anonymous wrote:

Is there a credit company you would recommend for this? Im hesistant because I dont want a HP. 

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Any reputable furniture store will do. Do you need any furniture as of late?

Don't buy anything you don't need just for the sake of taking on a small installment loan.

[Anonymous]

Ok thanks, one more quick question. If my overall CC balance is ~ $0.00 then will increasing my credit limit on any of my cards really help my score since I'm under 20% utilization anyway? 

[Anonymous]

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@Anonymous wrote:

Ok thanks, one more quick question. If my overall CC balance is ~ $0.00 then will increasing my credit limit on any of my cards really help my score since I'm under 20% utilization anyway? 

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Can't hurt!