Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
Betoasaber

5 Contributions
3 People Helped
DCU secured card will help improve my credit score?
I have only 8 months of credit history and my FICO from Discover last month was 704. Applying for a secured card will help my credit score to increase?
My wife has a long credit history and we are planning to buy a home she does not have a secured card, do you guys think that she needs one? or secured cards are for ppl like me trying to build up credit score?
thanks in advance!!!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1131 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

If you have a score of 704, I don't see why you would have trouble getting an unsecured credit card, although with your short history it may be an issue with some lenders. Secured cards are usually only for those with poor, bad credit, or no credit at all. Whatever card you get, get one that is known to report regularly to all 3 credit bureaus. Many credit card sites have a preapproval process you can use before you actually apply, this is good because a preapproval does not give you a hard inquiry on your credit reports. Also note that preapproval does not guarantee that you will be approved for sure, but it gives you an idea. When you do apply for the actual card you will get a credit inquiry which may reduce your score slightly, however getting a card should help increase your score. Just don't apply for too much credit that you don't need prior to applying for a mortgage loan as that may make you look risky. All in all it is important to have credit cards (revolving accounts) to build your credit score.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.