@FinStar wrote:
@Open123 wrote:@Anonymous wrote:
@FinStar wrote:
@Imperfectfuture wrote:
@baller4life wrote:
SDFCU secured card is a MUCH better option for rebuilders than Credit One and First Premier.^^^^ * gazillion
No one is arguing that point folks. My point is, statistically, myFICO (or other credit forums) represent a small universe of the population that would draw individuals from all backgrounds to make more educated choices for either starting out or rebuilding. And, while the internet has vast resources from financial literacy to lending products, it still doesn't reach far enough.
Another item to keep in mind, and while I'm not advocating First Premier or Credit One as a first line of credit card choices, there are still going to be plenty of individuals who may not qualify for traditional lending (even in the subprime model) or have much of an option, even by SDFCU or Capital (secured or unsecured) standards.
My point is WHY is MyFICO advertising a known scum lender with despicable practices?
Well, as Finstar had alluded to, for those rebuilding, some will not qualify for a secured CC. Rather than waste time for things to drop off, it's worth paying the fee to rebuild faster. In a year or two when rebuilding is underway, one can always close the card.
Exactly. Take a look at the underserved comunities across the country. You don't need to go very far from where you live to see that even the most basic of all banking services doesn't even reach the average individual. Thankfully, most individuals who can move beyond that point will learn from others that there are other options once things improve in their financial lives and they can eventually cut their ties with Credit One, Open Sky, First Premier, etc.
Hey, I resemble that remark. I moved to what is considered a severely financial illiterate, underserved community (an island of secure housing in a developing but still transitioning neighborhood). Once again, these folks don't know better. I can make myself what I will, regardless of where I live (but the business opportunities are enormous here 
). As you can see, I have done just that. In fact, my manager and friends are aghast at my current credit scores. They just need help and education. They DON'T need credit one and first premier. One should be careful of bucketing folks by neighborhood. We have several immigrant businesses (not espanol, neighborhood is widely dispersed) that have also qualified for small business credit.
@Imperfectfuture wrote:Hey, I resemble that remark. I moved to what is considered a severely financial illiterate, underserved community (an island of secure housing in a developing but still transitioning neighborhood). Once again, these folks don't know better. I can make myself what I will, regardless of where I live (but the business opportunities are enormous here
All salient and valid points.
You qualified for a secure card, which makes rebuilding much more efficient and cost effective than either Credit One or First Premier. What if, like many, you were declined for any and all secured CCs?
@Open123 wrote:
@Imperfectfuture wrote:Hey, I resemble that remark. I moved to what is considered a severely financial illiterate, underserved community (an island of secure housing in a developing but still transitioning neighborhood). Once again, these folks don't know better. I can make myself what I will, regardless of where I live (but the business opportunities are enormous here
All salient and valid points.
You qualified for a secure card, which makes rebuilding much more efficient and cost effective than either Credit One or First Premier. What if, like many, you were declined for any and all secured CCs?
How can you be declined for ANY and ALL secured CC's?
@Anonymous wrote:
@Open123 wrote:
@Imperfectfuture wrote:Hey, I resemble that remark. I moved to what is considered a severely financial illiterate, underserved community (an island of secure housing in a developing but still transitioning neighborhood). Once again, these folks don't know better. I can make myself what I will, regardless of where I live (but the business opportunities are enormous here
All salient and valid points.
You qualified for a secure card, which makes rebuilding much more efficient and cost effective than either Credit One or First Premier. What if, like many, you were declined for any and all secured CCs?
How can you be declined for ANY and ALL secured CC's?
Astonishing enough, you can! Once upon a time, I didn't think a person could be declined a secure card, but it happens all the time.
@Open123 wrote:
@Anonymous wrote:
@Open123 wrote:
@Imperfectfuture wrote:Hey, I resemble that remark. I moved to what is considered a severely financial illiterate, underserved community (an island of secure housing in a developing but still transitioning neighborhood). Once again, these folks don't know better. I can make myself what I will, regardless of where I live (but the business opportunities are enormous here
All salient and valid points.
You qualified for a secure card, which makes rebuilding much more efficient and cost effective than either Credit One or First Premier. What if, like many, you were declined for any and all secured CCs?
How can you be declined for ANY and ALL secured CC's?
Astonishing enough, you can! Once upon a time, I didn't think a person could be declined a secure card, but it happens all the time.
Not buying it. At least one secured card will accept you regardless. Maybe not the top ten but...
The Credit One and the Visa Black look an awful lot alike. 
