Best secured CC.

[Scupra]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I shopped around last year at this time and settled on USAA, because:

1. You can choose an AmEx, MasterCard or Visa version of the card

2. APR is set at 9.9%

3. Annual fee is only $35

4. Your money goes into a CD that earns a little bit of interest

The only drawback is the card does not graduate.

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Out of all the choices, u settled with one that doesn't graduate......makes no sense. I would highly suggest boa, my card went from a $300 secured card to a $6600 cash reward in about 1 year 4 months. Open secure card, wait til it graduate at 1 yr mark, PC to cash reward, take a hp for CLI.

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True, I was a little naive. I hadn't found this website til 4 months after I got the card. But I went with USAA because my husband is a veteran and it was the lowest APR. I have always PIF since getting the card but I thought, at the time, that that was an important factor. My final choice was between USAA and BoA (the APR was the deciding factor). And Cap1 had just denied me a secured card because my CO with them was still showing on my CR at the time of the app.

Regardless, just because the card does not graduate does not mean it doesn't have ANY benefits. So I cancel it at the 2 year mark and it still appears for a total of 12 years and still factors into my AAoA and my payments are still there. There are pros and cons to each card we encounter. I was merely trying to be helpful.

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Your post was helpful! Like you said, there is not one option that fits everyone. A secured card is a rebuilder card and used for a purpose  

[Anonymous]

Any of them that can be unsecured after a year or two. Look onto fnbo, boa or wells fargo. Capital one is good too, but it does not unsecure.

[Anonymous]

As my review thread states later, SDFCU (state dept federal credit union) may have the best program. Wish I would have found that before I got stated. join the american consumer council tobe SDFCU eligible. (Enter CONSUMER) in the promo code of the ACC app to beome a member for free!

[Cheryla18]

Very Good Information...Thank you to everyone!!

[Cheryla18]

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@Anonymous wrote:

http://ficoforums.myfico.com/t5/Credit-Cards/Secured-cards-my-experience/m-p/3696888

Heres my review of the 5 secured cards I used to build up my file. Hopefully between those two threads you will find something that works well for you.

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Thank you for sharing your exp with these cards. I will app for the Discover IT card soon.

[Cheryla18]

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@Anonymous wrote:

Very good responses.. I hope it helps OP..

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Yes Thank You all so very much. Been away busy with life. Sorry for the delay 

[northface28]

The BOA $99/$500 secured is literally, MONEY!!!!

[Cheryla18]

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@northface28 wrote:

The BOA $99/$500 secured is literally, MONEY!!!!

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I went to the BOA site and cannot locate the secured card. Any helpful hints?

[newhis]

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@Cheryla18 wrote:

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@northface28 wrote:

The BOA $99/$500 secured is literally, MONEY!!!!

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I went to the BOA site and cannot locate the secured card. Any helpful hints?

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https://www.bankofamerica.com/credit-cards/products/secured-credit-card.go

You can't apply for the $99/$500 secured card, you need to apply for a regular card and they may deny the regular card and show you the 99/500 one. I did it in a branch, just to talk with someone so they can help to get what you want.

Good luck

[itgirl74]

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@Cheryla18 wrote:

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@Anonymous wrote:

http://ficoforums.myfico.com/t5/Credit-Cards/Secured-cards-my-experience/m-p/3696888

Heres my review of the 5 secured cards I used to build up my file. Hopefully between those two threads you will find something that works well for you.

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Thank you for sharing your exp with these cards. I will app for the Discover IT card soon.

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Be careful with Discover - they will not always counter with the secured card offer. I applied last May thinking this would happen, but instead I was asked to add a co-applicant. If you can afford the HP, though, it does sound like the card might be good enough to be worth the risk.