firegod94

What is the reasoning for the 60 day delay for reporting to the credit agencies? If I do not get my card till the end of January, and I am trying to raise my scores before the beginning of March my scores may still be too low to pre-qualify for a mortgage. Is there any way to speed that process up?

Not making it a unsecured card at first, but maybe switching it over to one if someone maintains it for lets say 18 months or so. Kind of like a reward for being responsibly with it. Just an idea to amintain more customers for longer periods of time.

Does not support my Credit Union: Citizens Equity Federal Crdit Union here in Peoria, IL.

I thought they just passed it so that people could no longer add people in order for that person to raise their credit?

Another way they get you is by "bundling" all the services together. I figured it was cheaper to have the basic line, DSL, and Dish combined than it was to pay for everything separately. We went with the Silver package from Dish, and the medium DSL speed. The speed seems fine for what we are doing and we are running a wireless network at home. Our bill is less than $100 a month for all three services. If someone can come up with a better solution for internet and TV, please let me know.

What are the chances that in the future the card could become a regular credit card without having $300 tied up in it? I would think that would be more attractive to people. Since when you close the account your credit may drop because you have one less trade line reporting, and less revolving credit. So far this seems to be the best offer out there to help rebuild your credit, but being forced to keep it is more in the banks favor.

As of right now, the banks are looking at a minimum of 620 for your middle score. Some banks and some programs are now requiring 640. There is also a rumor that FHA loans will require either 660 or 670 here in the near future to even qualify.