I have a question. I currently have the following credit cards, and Car Loan Sears Gold Mastercard. Limit $2902.00 APR 10.99 HouseHold Mastercard. Limit $430 APR 22.90 Police and Fire Federal CU Visa Secured. $500.00 APR 9.90 Dillards. Limit $600.00 I am an AU Car Loan at APR 18% I was going to get apply for the BOFA secured card and deposit 500.00. My question is do I already have enough credit to start to rebuild my credit my scores are only in the 500 range. I also have had my BK removed from all three Credit reports. I have some charge off's and what not. Any advice would be helpful.
You might think about adding that $500 to your CU Visa to give it a $1000 limit. Just a thought, it's nice to have bigger limits reported. Also, what's dragging down your score? Utilization or derogs?
Both...I have come along way with my scores they were in the high 400's after My BK was dischared which was in 1999. After I did a dispute with the CRA and had it removed in went into the 500's. I have also had a couple of neg's removed aswell.
Who do you want to build a lending relationship with? I'd put your money there. BofA gets rave reviews for their unsecured cards. Or, you might want to just increase the secured card you already have (my best advice).
