Store card questions

[Anonymous]

Hi

just wondering... I just opened up a secured cc this month which raised my score from 515 to 544. I'm trying to raise my score to at least 620 in the next 16 months. Would it be good for me to open a store card or any other cards or would it hurt? I know my score might take an initial dip, but in 16 months will my score be higher?

Also if it is a good idea, what cards would approve me with my score? I don't want to apply for a bunch and get all those dings...

[Anonymous]

i would go for another secured myself(bofa, us bank) . I would not be suprized if you hit 620 after your two accounts hit 6 months and as long as you dont have any lates and under 10% usage i think 620 in 16 months should be very doable

[Anonymous]

thanks

[score_building]

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@Anonymous wrote:

Hi

just wondering... I just opened up a secured cc this month which raised my score from 515 to 544. I'm trying to raise my score to at least 620 in the next 16 months. Would it be good for me to open a store card or any other cards or would it hurt? I know my score might take an initial dip, but in 16 months will my score be higher?

Also if it is a good idea, what cards would approve me with my score? I don't want to apply for a bunch and get all those dings...

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it depends on what revolving accounts you already have.

[Anonymous]

thank u for asking this question! i had the same question! my Equifax score is 597 and I'm also in the process of getting a BOA secured card...and maybe another secured card?

[Anonymous]

I don't have any other revolving accounts except for the secured cc.

[Anonymous]

O I decided I'm gonna try for another secured cc. My current one is thru wells fargo. If I get a different one, should it be thru a different bank or can I have 2 at the same place? will either way effect my credit any different?

[score_building]

boa has the best of any secured card offering imho.

if you haven't already, you can see if you are offered anything from the boa preapp site before taking the plunge: 

https://preapproved.bankofamerica.com/cc/SelfInquiry.aspx

this is a soft inq. only.  they appear to use EQ reports for this, but they typically use EX and occasionally TU too for the actual application.