Okay, I have BAD credit. Really bad. Like 527 bad. Both my children were born with considerable health issues that took away my ability to work, so the credit went south. I have a plan for bringing it up with PFD and GW letters in January when I have extra $$. For now, I have started to bring it up by getting a new CC. My question is if my score will see a jump if I use the card and pay it down under 9%? The card is only $300 and I know it will help some, but how long does it take to see an increase?
I have already done alot of the legwork for paying off some old collections, etc. through the PFDs (thanks a million to the people on this board!) and figure I will get at least some of them to say yes. I just feel SO bad knowing that my score is SO low!
I'm kind of afraid it's lower than 527 because when I check it on this site a couple of weeks ago, it was 454, TU said 527. I don't know if opening the credit card account would have taken it up that far??
Any help would be greatly appreciated!
FICO 9/1/07 FICO 9/26/07
TU--534 TU--538
EX---552 EX---562
EQ---454 EQ---454