First Secured Credit Card?

[NastyNatex]

Hello I was just recently approved Capital One Secured Credit Card a few minutes ago. Haven't sent in the deposit  yet because I wanted to know should I just stick with Capital One or go to Bank Of America secured credit card.

[AlwaysUp]

I would stick to Bank of America. Crap one is pure garbage. I believe your card can graduate with BoA.

[NastyNatex]

Yeah someone told me that BofA card graduates.

[msbia]

Well everyone is different. Some people love Capital One and I think that they have a good secured card, my husband has one. He deposited $49 and they gave him a $200 limit. He's been making timely payments and loves the freedom it gives him. The BOA is not guaranteed approval, they have pretty stringent requirements as well and i have seen people get denied for it. The State Department secured card is a good bet, but I got my secured through my credit union and through a Discover denial and a Usaa secured. Easiest bet, Cap1, iffy but best all round secured card, BOA, alternates SDFCU or local CU. Good luck op!

[B335is]

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@msbia wrote:

Well everyone is different. Some people love Capital One and I think that they have a good secured card, my husband has one. He deposited $49 and they gave him a $200 limit. He's been making timely payments and loves the freedom it gives him. The BOA is not guaranteed approval, they have pretty stringent requirements as well and i have seen people get denied for it. The State Department secured card is a good bet, but I got my secured through my credit union and through a Discover denial and a Usaa secured. Easiest bet, Cap1, iffy but best all round secured card, BOA, alternates SDFCU or local CU. Good luck op!

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I agree with this.  At one point I was really unhappy with Capital One, but I've realized they offer products that served as a means to an end.  Without the history I was able to build with them, I may not be where I am today.  So you will find opinions all over the place with them and just about all other lenders.

BoA secured card is a really nice product and has a high rate of graduation. 

[NastyNatex]

thanks for information guys/gals as of right now i'll stick with capitalone since im already approved but i will check out SDFCU secured card for some more info before I send out the security deposit to Cap1

[Hubcapjw]

I've had a cap 1 secured card for 13 months. Also have an unsecured cap 1 card for 9 months. I have had zero problems with cap 1.  Their app is great and very easy to use. It will take awhile for your card to arrive. I have take my score from a 0 to a 700 in 13 months. I also have gotten increases on both cards. The beginning of May I will be going on an app spree thanks to the help of these 2 cards.   Go for it....work the card for 6 months to a year and move on to bigger and better cards.

[JoshuaHolySpirit]

UNITY VISA (google'em), lets you deposit up to $10,000.

They are new (January 2014?). ( Bummer, AF$39/17.99% )

Still kinda nice for building/rebuilding, like 10k credit line.....

Harley Davidson has  $0AF but up to $5000 only.

Yeah, that's after Cap One & BOA Secured.......

[TiggerDat]

You already have the inquiry, so you might as well stink with the Capone card.  (Yeah, I used the word stink...)

If you only want one, the inquiry is there, so I would simply stick with it and who knows in a year or two it might be easier to graduate to an unsecure card.  Capone seems to be changing a bit, rather slowly I might add, so who knows what they will consider in a year or two.  Having a second secure card, one which has a higher instance of graduation, will still have good reporting during the time it is secured.  This will only be good for your report.

[NastyNatex]

yeah I just stuck with cap1 for now hopefully everything go according to plan. But I which I would of went with BofA or SDFCU.