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Super Contributor
Posts: 7,534
Registered: ‎12-11-2011
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Re: Credit Card Recomendation

Which card did you end up getting? And good luck on your Cap1, hopefully you'll get approved and will only need a $49 or $99 deposit and not the whole $200. 

Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Credit Card Recomendation

Not loving the list of cards you apped for. Look at threads on recommended secured cards. Personally I would be doing sdfcu or dcu secured card as no af. First progress looks okay too.
Posts: 17,529
Registered: ‎12-30-2011
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Re: Credit Card Recomendation

[ Edited ]

rootpooty wrote:

altayar wrote:

I would recommend the Bank of America Secured card. The problem is that you'd have to come up with another $100 because I think the minimum deposit on the card is 300. The good thing is that they'll return the deposit and unsecure your card in a year. 

i doubt the op would get approved for bofa secured. their card is more for building than rebuilding

He is building, and that's a YMMV thing anyway.


Dude has no positive tradelines, and medical collections are "whatever" compared to real collections from an underwriting perspective.  If BOFA will approve me with 1 open (non-medical) collection, 2 open tax liens, and a prior BOFA card with a 30/60 day late on it which they themselves closed, I have a hard time believing that someone with actual positive history, no open judgement, and no BK in his report would be denied.


It's the best secured card out there with the exception of NFCU which a lot of people don't have access to, and looking strictly from a rewards perspective, it's the best hands down out of any card obtainable sub-640ish FICO / 1 year+ history... and it fares pretty well against the Freedom/Zync anyway so maybe that's more like best/tied for rewards package sub-720ish FICO *shrug*.


Well worth the shot, it is the gold standard now in terms of financial sense for sub-prime FICO people.




Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)

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Valued Member
Posts: 41
Registered: ‎07-06-2012
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Re: Credit Card Recomendation

I might try BOFA secured. I actually paid off one of my students loans, so I do have some positive history. I went ahead and took the subprime card, and I plan on only using it when I already have the money to pay for whatever I bought. The credit limit is 300, so I figure spend 30 once a month then pay it before the due date arrives and my grace period ends to avoid the interest. Does that sound reasonable?

In the garden since 7/27/12 after getting two credit rebuilding cards.

Starting Score: 527
Current Score: TU-617 Equifax-606 Experian Plus 569
Goal Score: 650 by 1/1/13

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