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myfico credit card center

LBC562
Established Member

myfico credit card center

i am currently rebuilding my credit and got approved  for $250 credit limit card but i need to open 1 or 2 more revolving account to push the score up. i was checking out myfico credit card center and searching for the right card and base on my score currently at 573 TU/ 580 EQ/ 588 EX, i have a few options of unsecured  cards like Citibank and Amex. how accurate is this? should i apply? am i going to get denied?.. need help thanks
Message 1 of 6
5 REPLIES 5
jmbfl
Valued Contributor

Re: myfico credit card center

With your scores I would go to the BofA soft pre-app site and see what comes up. It most likely will only be the fully secured card, but take it. The card will convert to unsecured and continue to grow with you. It will be the best card you can get right now and will continue to be great in the future. If for some reason they do offer you another card app for it or cold app for a regural card - they might offer you a 99/500 card, but you must app for and be denied another card first and the offer is at their option. Do this before you apply for other cards. It is possible to be declined for a secured card if they see too much stuff going on all at once.
Message 2 of 6
laz98
Senior Contributor

Re: myfico credit card center

their credit card qualifier isn't very good or accurate.  i wouldn't go by what they tell you.
Message 3 of 6
LBC562
Established Member

Re: myfico credit card center

thanks for the help. what do you mean by 99/500 card?
Message 4 of 6
LBC562
Established Member

Re: myfico credit card center

 what do you mean by 99/500 card?
Message 5 of 6
SCF
Valued Contributor

Re: myfico credit card center

99/500 is a partially secured card that BOA sometimes counter-offers to people who are declined for one of their unsecured cards.  Basically, you send in a $99 deposit to secure a $500 credit line.  It's a great deal for those looking to rebuild credit or improve their scores because it usually unsecures after 12 months, meaning you get your deposit back and a CLI into the bargain, if you treated the card well.

 

Any BOA card, including the regular secured, will grow with you if you take care of it, but the 99/500 is an even sweeter deal.

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