How to get the best credit utilization on my secured cards?

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How to get the best credit utilization on my secured cards?

Postby fl_226_2 » Sun May 20, 2012 12:07 am

Hello and thank you for your help and advice!

Well some years ago, I had a pretty bad credit situation. I was a 480, but am now somewhere about 660. Not good but just starting to try and correct this situation.

So, I applied for that secured Cap One card and have the measly $200 credit line. But, after just some months of good payment history, my FICO seems to have picked up.

I know that some part of the score is the utilization ratio of your credit card balances to credit limits as listed on your credit report. It would seem to be beneficial to increase the total line of credit, correct?

If I were to add $1000, would it be best to add it to the amount on the Cap One card, or open a second account with that Orchard Bank card and just add it to the initial deposit on that second card?

Or is there any other card that I might qualify for better than those cards?

I am serious about paying off my balance every month and establishing good history.

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Postby fantasy86dj » Wed May 23, 2012 4:38 am


Any ideas??

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Postby DavidNY » Wed May 23, 2012 10:01 am

I would recommend getting a Bank of America secured card if you can.

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