Will a 2nd Secured Card Help?

[Anonymous]

Hello everyone,

This is my very first post. I am in the process of rebuilding my credit. My current credit scores are:

TU: 611

EQ: 568

I have a secured CapitalOne MasterCard since June 2007 with a $1000 limit. I have made every payment on time and my utilization is under 10%. I also have a car loan since June 2007 that is only being reported by EQ only. That is also in perfect standing also. I have 3 collection items that are all paid and one will fall off March 2009.

So, will a 2nd secured card help in my situation? I know that it will shorthen my average account age.

[Anonymous]

IMO, work on removing those collections through GW letters and then try getting an unsecured card.

Maybe apply with BoA and if you get declined, they will sometimes counter offer with a 99/500 secured card. The CL is $500, you put a deposit of $99 down.

Are the collections your only negatives? You said one will fall off in March, what about the others?