Rebuilding credit - What's next???

[Anonymous]

Exciting news for me today. Applied for BofA Secured card with 99 deposit with 500 credit and got approved. Also, applied opensky secured card and got approved as well. Now the question remains should these cards suffice to build credit? How long should I wait to make the move to get another one? 

Also, question about disputing online, if I file disputes for paid off accounts will my score get dinged? 

& Will settlement cases remain negative accounts on CR? 

Thanks 

[Anonymous]

wow congrats didnt know bank of america still had that offer, did you recieve it through the email was it on there site ? and yes 2 should be fine even though i went a little over board and got 8 of them 

[Anonymous]

BofA sent a letter stating that I was pre approved, and I took a chance. My agenda is to use them both for about 4 to5 months and stay on top of all the bill payments. 

Any suggestions on good secured cards out there?

[gearsofwar421]

Capital one does secured if balance increases after 6 months of on time payments I started with a 300$ secured card from capital one they up me to 600$ after 6 months I also got a wells Fargo secured card after a year of on time payments I applied for a capital one unsecured card and got approved for $500 then I tried my luck for a discover IT card got approved $1000 limit also picked up a best buy card 1000$ limit so yea secured card will help u as long as u pay your bills On time on time payments are the key is u can't afford the minimum payments or don't have a steady work history I wouldn't apply

[Whitneyy]

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@Anonymous wrote:

wow congrats didnt know bank of america still had that offer, did you recieve it through the email was it on there site ? and yes 2 should be fine even though i went a little over board and got 8 of them 

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I didn't know they had this offer either. I'm interested!

And I think three is ideal with one installment account as well. 

[Anonymous]

I would suggest adding a third account. Capital One would be a good addition. No need to wait, do it now. Cap one will also let you have several accounts with them.

Not a big fan of the vulture cards like Credit One (the worst), First Premier, Open Sky, etc.

[Anonymous]

@Norman what were some issues with open sky, any personal experiences?

I was thinking of applying for Cap one, but wasn't sure because of old charged off cap one CCs from 2009. Would this come back and bite if i do decide to go for Cap One secured or unsecured card? Any thoughts?

Thanks

[Anonymous]

From online reviews it seems like OpenSky can be a PIA to work with. People have reported they can take forever to post payments (by mail) and their online system is a nightmare. If you already have it, just sock drawer it and use the BofA card. You should be in a good position to close it before the AF hits. I would suggest opening a Cap One account, as they are a much better card to work with. Online payments are easy, you can schedule up to three payments in advance, multiple payments per month is not as issue, etc.

As soon as both lines report you will get a boost and your scores should rise after a few months of payments.

[Anonymous]

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@Anonymous wrote:
@Anonymous what were some issues with open sky, any personal experiences?

I was thinking of applying for Cap one, but wasn't sure because of old charged off cap one CCs from 2009. Would this come back and bite if i do decide to go for Cap One secured or unsecured card? Any thoughts?

Thanks

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As long as you don't have an unpaid CO from Cap One in the last year or so, they will approve you. They do not blackball like many of the bigger banks do.