Need something to help build credit.

[Anonymous]

Hubby has 2 installment accounts. Both never late. One is year old this month (havent reported for this month yet so its at 11 on the cr) and the other is about 3/4 months old opened in oct. these are the only 2 open accounts he has. he has 4 collections showing on EQ and EX and none on TU but 6 neg on TU and no neg on EX or EQ. My question is will a revolving account help his credit? If we use it right and buy little at a time and pay it off....what is the best way to do this? And what is one he could get approved for? His score s 576. I have been looking at the orchard bank secured card?? Anyone have any tips or advice?

[Anonymous]

I think it would be best to try to repair some of the issues before you start looking for new credit. Right now he would only qualify for secured credit. If you can get some of the issues deleted, you might be able to get his scores high enough to actually qualify for unsecured credit.

What are the collections showing on EQ and EX? Tell us who the CA (collection agency) is and the balance still owing if there is one.

[Anonymous]

Sorry, I just saw the collection info on another one of your posts. I responded to it there.

[Anonymous]

thank you so much

We need to get his credit up enough within the next few months to qualify for our apartment that we are in on our own.

[Anonymous]

Yes, had same problem and same score as you. first secured card I applied for and was turned down. Next one, Open Sky and they approved me and no hard pull either.  Send them in 200.00 for a secured card (or more If you want) and no problem. I received my card within about 10 days and it was already showing with all 3 bureaus and my score went up within 3 wks 60 points. I could not believe it. Now I am waiting to see if after making my first pymt on the card with my score go up anymore. I did forget to mention that there is a $29.00 annual fee that is charged immed. and is taken out of the security deposit limit. Now, make sure you dont charge over 30% of the credit limit and pay it off in full each month on time.

Good Luck