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dewerstogo

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Secured credit card Bad Karma advice?
Help I am trying too improve my credit score took the advise offered on this site and got a "secured" credit card and my score went down seven points! I have made two payments on time in addition brought the balabnce back down to zero what gives? Is it because its showing up as an additional card with my low credit score?

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the hard inquiry you took from getting the card and 0% utilization is worse then 35% you want to keep the card at 1-20% from the closing date then when the bill comes in a few days later pay it off in full if possible

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Secured credit card Bad Karma advice

Any time you apply for a CC they do a hard inquiry, it will not matter if you're approved or not. Your score will drop.....thats fine just make sure you make payments before the due date. It may take about 4-6 months but it can jump up 30-40 points by then. Keep the CC utilazation below 30% every month and it's better to show a balance monthly than paying off every month that way it shows payment history and responsible useage of the CC.

It happened to me so what I did was get 3 CC in one month since I knew I was going to take a hit to my score and it dropped me 40 pts, then after 6 months of paying on time it jumped slowly back up by 60 pts....have faith and use the scheduled payment options with you CC to ensure you pay before the the due date and always get the reminders via e-mail or texts on all your accounts.

Hope this helps.

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change credit cards

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If you want to change credit cards and not have a secure card what credit card do you suggest

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