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whitesarah601

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trying to fix a slow and low credit score
I have been trying to improve my credit score because of some previous collections had them really low. I got a secured credit card for $200.00 and my score went up 50 points. I later paid a couple of the collections (2) and my score went up again. 50 points. Well, my boyfriend added me as a authorized user, so I could use his card. My score went from 648 to 698 on transunion. My Equifax had went to 686, but dropped down to 657 after I was added to the cards. I checked my experian and I am at 701 with a vantage score of 699. What can I do now to help my credit or do I need him to take me off as a authorized user to make my score rise. I would like to improve my credit, so if one day I wanted a new car or be able to get a newer home with my future husband?

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For any paid negative accounts on your reports, do some reading on how to write "Goodwill Letters". Stay on as an authorized user as long as your boyfriend's card is in good standing, remaining as an authorized user has no negative impact on your credit. If your secured card is with Capital One, you will probably not be able to add any more money to it, I believe they have stopped allowing people to do that or are soon to stop it. Check right away so you know for sure, but instead of doing that I would advise adding another card in your name, you are better off with two credit cards than one with a higher limit. Several acccounts in good standing is much better than one account in good standing. If you have the secured card with Capital One, you should check their website to see if you may be preapproved for an unsecured Platinum card, and if not yet, check back on occasion to see if you are, it usually doesn't take long to get one ( a couple months) after you have kept a secured card in good standing with them. The most important thing to do when trying to improve your credit is to read as much as you can about credit so you have a thorough understanding of it. Designate several hours per week for reading until you are confident that you can make all the right choices. Any more questions that you have, feel free to ask.

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Hi whitesarah601! I've worked closely with credit repair agencies and can say that they will recommend you open 3 credit cards in order to continue building your credit. If your score has improved, you may not need to open another secured credit card. You may be able to get an unsecured credit card with a low credit line limit. Using 3 credit cards (don't exceed 15% utilization) and paying them off in FULL each month should definitely help you continue to build your score. Or, if you don't feel comfortable opening a second or third credit card, try increasing the credit limit on your secured card. If you can pledge more collateral/savings onto that card, you should be able to increase your credit limit. This should also help you improve your credit over time. Hope this helps!

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