need to have 2 open revolving credit accounts to build a credit score. having 2 secured credit cards help?

i have a secured capitol one card. i always pay on time and keep a few dollars still on it. i have a car so do not want to get a loan and pay 25-29% on a car i dont need. since the bankruptcy i have gotten a really good job makin over 100k/year. i have managed to save bout 30k this year alone. i am just trying to mainly find ways to build and get a credit score goin. and would like to know if having 2 secured credit cards is a good idea?

Public Comments

1. Credit cards is a great way to build up a good record. All the credit company's are looking at is that you don't default on your payments and you always pay on time. Like you've obviously found out it very hard to obtain credit without a credit record as they have nothing to go on then... Also, here in the UK you must be on the Electoral Role too.
2. Secured cards don't report to the credit reporting agencies, so they won't help. Go to your bank and ask for a secured loan: that is, you deposit $1,000 and then take a loan for $1,000. You pay it off quickly and do it again. The interest will cost you, but it does report to the credit agencies. Also ask the bank what you can do. With $30K in savings, you should have some options, including buying a used car for cash.
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