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Secured Credit Card -- How big of a deposit?

Date: Sat, 02/21/2009 - 17:16

Submitted by anonymous
on Sat, 02/21/2009 - 17:16

Posts: 202330 Credits: [Donate]

Total Replies: 6


I'm building credit from scratch and I'm wondering if the amount I transfer into the savings account would have an impact on how much my score is effected. I'm starting with $250, but will more be beneficial? How much do you recommend?


that sounds good.just remember it is a credit card,so keep up with it and your score will go up.250.00 is a good starting point.you can always add to your credit line.


lrhall41

Submitted by paulmergel on Sat, 02/21/2009 - 17:39

( Posts: 15514 | Credits: )


If I deposit $1,000 and continue to use only $200 will it report my available credit as $800 on a secured card? I've paid off all my debts but all my accounts were closed from settlements and I'm trying to increase my debt-to-credit ratio. Does this sound like a good plan?


lrhall41

Submitted by on Sat, 03/14/2009 - 18:46

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