No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Haven't heard of the product. Hopefully someone else can chime in and give you some guidance!
I have secured CCs with USAA.
You deposit money into a CD that earns interest (current I think is 0.74%). You can deposit money at any time by making an additional deposit. The APR is 9.9% (which seems super low for us folks with iffy credit). Seems to have the same benefits as the card you're looking for. And USAA is pretty awesome in general. I also bank with them and use the Credit Check Monitoring Premuim which lets you pull all 3 reports daily for $12/month.
Good luck in your search for a new card!
Are you military or related to someone who's a member of USAA? You might just need to upgrade your membership to a full membership (secured cards aren't available to partial members.. And I don't know the requirements to join Armed Forces Bank). I'd give USAA a call. Their CSRs are really nice and helpful. You can usually get a human being on the phone in a minute or less.
I'm not trying to steer you one way or another. I do hope you find the answers you're looking for! Just sharing my experience with you!
Plus, USAA car insurance is top-rate. If you qualify for it, no reason to not be a full member and enjoy all the perks.
Just updating on this. I applied for a checking account with them so I can get the lower apr on their secured card. I am going to apply for their secured card. Just wanted to list the details on it for anyone that might be interested. The thing I am most interested in about this secured card is the ability to add future CLI by added more money, the lower APR and the low AF.
Dunno, I don't particularly care for that secured card.
@MaryJane197 wrote:Just updating on this. I applied for a checking account with them so I can get the lower apr on their secured card. I am going to apply for their secured card. Just wanted to list the details on it for anyone that might be interested. The thing I am most interested in about this secured card is the ability to add future CLI by added more money, the lower APR and the low AF.
- Credit line from $200 up to $5,000
- No over-the-limit fee
- $12 annual fee, no application fee
- Ability to increase credit limit by adding funds to savings account
- Great low rate of 9.90% APR for Armed Forces Bank customers (20.90% APR for non-customers) *
- Accepted at any merchant that accepts VISA
- Card must be secured by a savings account
- $50 minimum increase increments with $5 fee for each $50 increment increase
- $2 quarterly fee charged to the Credit Builder Savings if not enrolled in e.Statement
Ugly. Cap One > that card really, and if you don't plan to increase your balance over time, either BOFA (rewards) or DCU (no AF, free FICO) smash that card.
Thanks for the info Revelate. Yes I dont like the increase fees either. Thats why I plan to only add 500 up front and leave it at that. But BOFA is only accepting applications from people who currently bank with them. Ive never heard of DCU. I will have to google that card.
@MaryJane197 wrote:Thanks for the info Revelate. Yes I dont like the increase fees either. Thats why I plan to only add 500 up front and leave it at that. But BOFA is only accepting applications from people who currently bank with them. Ive never heard of DCU. I will have to google that card.
Really? When did that change re: BOFA? Also by definition, if you get a secured card with BOFA, don't you bank with them since they will keep a deposit of yours on record? . You're the only one I've heard report that, and their website is still fully offering the secured card when I clicked through their interface on a machine which never has logged into the BOFA's web interface... I guess I'm somewhat disbelieving as it wouldn't make sense at all from a business decision.
Digital Credit Union (sometimes referred Digital Federal Credit Union). They fixed their atrocious web interface and I sort of like their new one, close to USAA's in functionality at least, and there's no fees to ACH money into the CU share account. That and I just made a payment from one of their checking accounts and it credited instantly in their interface. It's a no-frills card that isn't much beyond the tradeline, 0 AF, and FICO score, but it's better than that Armed Forces one which unless you really want something from that CU in the future, I suspect is well down the pantheon of secured products.
I wonder if we could get a secured card ranking stickied here or in the rebuilding forum.