Thank you Mikekey, as of right now I may just wait until the end of the year and see where my scores and report are at. I have a couple of things that will be updating over the next 90 days, so hopefully that helps me out. Good luck.
Starting Score: 1.12.2011 EQ 467
@Anonymous wrote:Question, have you thought about getting a personal loan first rather than a credit card?
My FICO score was 600 at the start of 2010 and I've managed to bring it up to 681 in little to no time. I started with a $1500 secured loan from my credit union and put the money straight into a savings account with automatic drafts set to repay it in 9 months. After that I got approved for a $4000 loan which I setup the same way, to auto repay itself in a 9 month time frame, which just got paid off this month actually. The key is don't touch the borrowed money.
I also applied for a secured card only a lousy 500 last Nov but I recently got approved for a card for 1500 in Apirl, and I stick to a 18% of the credit limit monthly charge. So on my one card I set aside $270.00 each month to charge and never go over that amount.
Simple solutions, and finding a credit union can do wonders. I tried going the credit card route too at first, and found the personal loans where easier to get into. Which has now opened up the credit card route. Before I couldn't get anyone to give me a credit card.
that's great advice for those who can't get a secured card! Congrats on your good work!
Revolvers seem to have a greater impact on FICO's - for example utilization on revolvers will have a far greater impact than utilization on a loan; additionally FICO tends to grant significant points (20+ but YMMV certainly) for opening that first revolver - especially if its a bank card. In OP's case, I'd probably go with the secured card since it was offered.
But you've got to do what works best for you - and options are always great to bring up for consideration. There's more than one way to skin a cat! (ooohhh, just realized that's a terrible saying - hopefully it was referring to, uh, catfish 
)
Oh you both are so young, I will be 52 in a few months. Most of us here,that are my age have done the same thing in our earlier years,messed up our credit.
But back in our 20's we didnt have access to our CR's and didnt know anything about fixing our credit.
So both of you have an advanage today, especailly learning what you can learn here at myFICO.
I think both of you will do just fine and will own a home. Make a plan and stick to it, that is what I did.
Knowledge is Power. 
