Thanks for all of the responses.
Just a clarification on the points part... I understand that the secured card doesn't give any perks, but what I'm looking for is to eventually get there. I figure once I get the secured card to turn to an unsecured card that I will eventually be able to apply for whatever point card I'm looking for.
I'll check out the cards listed, as well.
Basically the reason I was looking to up the secured card over time, though, is that several of the cards I lost due to the CCCs had limits north of 10k, and I think that low limit cards would be useless to me; I would end up using my bank card for purchases and the CLI will never increase because of the lack of usage. My wife and I tend to burn through 3-5k a month on things that can be purchased by a card (now we make enough to pay it off every month), and once we can get to a place where we can get points for it, we'll rack them up pretty quick. But that requires a card with a high limit.
Thanks again everyone!
Message Edited by IKnowDoYou on 06-28-2008 07:45 PM
Secured cards do report as such and they do not aid your score as much as unsecured lines, but they won't hurt your report. The BoA card shouldn't harm your score, it just wouldn't raise it as an unsecured card with spotless payment history. Your score is getting into the acceptable range for prime cards, I would think you could pick up a secured and by the time it converts over, apply for another prime card that you want with rewards with another bank as well.
marcuscan wrote:The key is, once that 9 - 12 mos time frame has passed be sure to not keep that particular card.I can recall having clients come to me and they had kept that Secured card years after they're funds had been refunded.mc
Sorry Cheddar, that reads counter to what I have read on other threads in the past. So a secured card from a bank is equivalent to an unsecured bank card?