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  • Feb 5, 2022

    I applied for a secured credit card just now and got approved.

    It asked me for a deposit which would be the credit line or limit? and I was wondering if I made a bigger deposit than the minimum amount if that would that help me get an un secured line faster?

  • Feb 5, 2022

    i don’t think it would help you get an unsecured line faster, but i guess it depends on the terms of the secured card

    what the larger deposit could do, though, is increase your available credit which will help your credit if you keep good credit utilization (rule of thumb 30% or less)

  • Feb 6, 2022
    Lamar

    I applied for a secured credit card just now and got approved.

    It asked me for a deposit which would be the credit line or limit? and I was wondering if I made a bigger deposit than the minimum amount if that would that help me get an un secured line faster?

    Never miss a payment and keep utilization under 3% across all cards

    Set reminders in your phone to lower utilization before the closing of each monthly statement and you’ll see the difference in 6+ months

    If you know you can’t pay it off by the end of the month don’t buy it