myusername2222 Posted February 7, 2012 Report Share Posted February 7, 2012 Hello, am trying to repair my credit rating. I do not have much debt and most all of it is 5 yrs or older. I have been advised to build new good standing credit rather than pay off those aged debts....My question is...The only card I could be approved for was the capital one card and for me they required a deposit of $100 and then matched another $100 for a total of $200 credit line. So I was wondering, would it be wise to manually increase my credit line by depositing more into the account in order to show more credit available but not debt. For example, depositing another 500-800 and using about 20% of that per month and paying it off at the end of the cycle?Or should I just 'up it' a bit more and then acquire another secured card and do the same with that? Thank for your valued advice!! Link to comment Share on other sites More sharing options...
TomnTex Posted February 7, 2012 Report Share Posted February 7, 2012 I think you would be better off to go to your local credit union and open an account and see if you can get a card from them. You could also see about a secured card through them. Be a lot better than through crap 1. Link to comment Share on other sites More sharing options...
willingtocope Posted February 7, 2012 Report Share Posted February 7, 2012 First off...who advised you? Your debt load is just fine. The only reason to look at "utilization" is to increase you sucker score. Taking on more unsecured debt (i.e., credit cards) should not be of any concern. The advice to open an account at a credit union, and get a card thru them is your best option. Avoid Crap 1...they're bottom feeders. Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted February 7, 2012 Report Share Posted February 7, 2012 Avoid crap1 Link to comment Share on other sites More sharing options...
antiquedave Posted February 7, 2012 Report Share Posted February 7, 2012 Avoid crap1What he said Link to comment Share on other sites More sharing options...
myusername2222 Posted February 8, 2012 Author Report Share Posted February 8, 2012 Ok i may have used the wrong word when I say advised.. don't take it personal. I just mean through casual conversation with others, nothing official. And, sorry but I already have the Capital One aka 'crap 1'. I wish i'd have asked that question before I applied, but I have had it for a month. Given that, can you make and other recommendation?And, just curious, but what would be the benefit of a card through a credit union? Would one from a credit union help my situation more? Link to comment Share on other sites More sharing options...
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