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@Anonymous wrote:Hi, the whole credit score system is quite new for me since I've just arrived to the US, and so I have opened a checking account and have deposited 900$, and the only way to get a credit card was to request a secured credit card with CL 800$, so I need to know; What would be my starting credit score? How do I increase this credit score? Where should I request credit cards? If I ask for a car loan, should I do it, at the Bank itself or by a dealer? would it be denied?Appreciate your help,Miguelon
Also remember it is not the limit on the card that hurts or helps a score, it is the utilization percentage. Always pay that down before the statement cuts (try to keep it under 10 percent reporting), and always pay on time.
If you do these two simple things your scores will go up.
Post split to form a new thread within Understanding FICO Scoring
Well, you state you just got one secured card. Use it but dont charge more that 30% of the total credit limit and pay bal off in full at end of each month. I would also order another secured card and I suggest as I did I ordered one from open sky with only a 200 limit and my score went up about 60 points the first month. I was shocked but this is my suggestion and it worked for me. Some of the secured cards are harder to get but open sky I had no problem or you may want to consider maybe an account with a furniture store but whatever you do make sure you pay on time. Also, they state dont open to many accounts in a short time as well so be careful.
No, that is not correct. I opened a secured credit card account with only 200 limit and they reported the very first month to all 3 bureaus. The card is called open sky with credit one bank and I opened it online. Now, there may be some that dont report for 6 months or so but I know for a fact that this one does report first month to all 3 bureaus so I would suggest them. I did have a 29.00 per yr fee but so what? If it helps it is worth it and later I will transer to a card with no annual fee after score is up enough. I had better double ck but I know I ordered it from company called open sky which was advertised on Credit Karma and I think name of the bank it was through is called Credit One but I will double check that but trust me it does report immediately upon opening.
@lbuckland223 wrote:No, that is not correct. I opened a secured credit card account with only 200 limit and they reported the very first month to all 3 bureaus. The card is called open sky with credit one bank and I opened it online. Now, there may be some that dont report for 6 months or so but I know for a fact that this one does report first month to all 3 bureaus so I would suggest them. I did have a 29.00 per yr fee but so what? If it helps it is worth it and later I will transer to a card with no annual fee after score is up enough. I had better double ck but I know I ordered it from company called open sky which was advertised on Credit Karma and I think name of the bank it was through is called Credit One but I will double check that but trust me it does report immediately upon opening.
Welcome to the forum. The thread you are responding to is over 4 years old and it is more than likely that the OP has had his/her concerns addressed.
You are more than welcome to start a new thread.
~Lexie, myFICO Moderator