Citi Secured CC

[djc1puno]

i think you have a shot at those banks...it's secured and you're trying to build history...which is what those cards are for... you'll be alright i'm sure

[BearsAndTurtlesRtheBest]

Thanks djcpuno In that case I will be at Citi and Bofa getting my credit journey started as soon as I get my pay check.  I could only afford to put the minimum is that ok?

[enharu]

Putting in only the minimum is fine. You can always add the deposit later on to increase the CL.

[BearsAndTurtlesRtheBest]

Sounds good, then I will keep you guys updated and see how things go.

[Revelate]

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@BearsAndTurtlesRtheBest wrote:

Sounds good, then I will keep you guys updated and see how things go.

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For style points just put the minimum and be done with it.  Pickup a C1 or a SDFCU card for limit goosing (pretty certain you can do this with SDFCU, definitely can with Cap One).  BOFA is a HP to increase it and as I found out, it may not make any difference to your eventual graduated limit anyway.

Regarding the secured cards, you're the perfect demographic for it: they're built for no-files.  FWIW I was approved as a straight negative file with BOFA twice (tax liens, collection, and the second time was a failed 30/60 day late account closed by grantor on a prior BOFA secured card actually heh).  Granted I've been a BOFA customer for two decades on the checking side so they could shortcut a bunch potentially when it came to fund and identity verification, but the same holds true for anyone.  In general banks would prefer you have no other relationships on record I suspect, so definitely take the swing.

[BearsAndTurtlesRtheBest]

Thanks Revelate and everyone else as well!! 

[lg8302ch]

Good luck and waiting for your success stories

[Anonymous]

Agree with the many posters responding to your inquiry. Have personal experience with BoA Secured Card. Graduated in nine months plus they increased the credit line at graduation when they unsecured the card. Oh, no funny stuff on getting your secured money back. Can't say the same for Wells Fargo. Believe I read that USAA and Citi no longer moved you from secured to unsecured that you have to app for an unsecured card (assuming I read what I read).

[sjt]

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@BearsAndTurtlesRtheBest wrote:

@Revelate thanks for the great info but looking at my credit and seeing that I have nothing will BofA and Citi still approve?

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Here is a link to BofA secured card requirement. It looks like you would be approved.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Bank-Of-America-Secured-Card-Requirements/td-...

[Longroad]

My youngest son is 19 and a freshman in college. He was approved for Discover IT $500 and a BOA secured card. Hope he doesn't lose my deposit. Haha