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Need a Secured Card that reports to all 3 - Don't care about anything else

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Need a Secured Card that reports to all 3 - Don't care about anything else

I just need any secured card to rebuild my credit. Right now I'm hovering around the 560-570 range on my 3 and the biggest thing hurting me is a lack of recent positive credit history.

 

I'm interested in Citi's Secured card, but I was reading a thread full of people saying they were denied for a secured card. I don't think I can go with Orchard either; long story short - I had them in the past, went into collections, eventually paid off with a settlement, so I doubt they'd take me back. Pretty much shot myself in the foot with that one...

 

I don't want to waste my time and further hurt my credit by getting denied, what credit cards should I be looking into? I bank with US Bank, how are their Secured cards? Some offer free air travel rewards (though I don't know when I'll be able to afford a trip - but at least the thought will keep me thinking positive lol)

 

The main thing is whatever card I get I want it to report to all 3, I'm not yet sure if US Bank's cards do.

 

 

Equifax - 570

TransUnion - 560

Experian - 565

Starting Score: EQ 689 | TU 663 | EX 680 (1/2016)
Current Score: EQ 735 | TU 663 | EX 680 (2/2016)
Goal Score: EQ 750+ | TU 750+ | EX 750+ (1/2017)
Message 1 of 14
13 REPLIES
Frequent Contributor

Re: Need a Secured Card that reports to all 3 - Don't care about anything else

I think it's quite hard to find any card not reporting to all 3 CBs. I would like to recommend public savings bank but term&condition has changed a lot from last year that now it's just another predator card. You could try cap1 secured and AF is not too high at $29.

Message 2 of 14
Regular Contributor

Re: Need a Secured Card that reports to all 3 - Don't care about anything else

I have US Bank secured and it does report to all three. I would say go with them especially if you bank with them. I also have Cap 1 and the good thing about them is that you can add additional deposits to your card anytime without a hard pull.

 

As far as adding additional deposits with US Bank secured card I was told by 2 CSRs that it can be done. They will allow you to add an additional deposit after you have had the card for 6 months with good payment history (not going over the limit and paying on time). However, one of them said it was going to be a hard pull when adding an additional deposit. The other CSR did not say whether it would be a soft or hard pull.

 

Hope this helps!

Message 3 of 14
Frequent Contributor

Re: Need a Secured Card that reports to all 3 - Don't care about anything else

I would try the Capone prequal link. The real banks(boA, citi, wellsfargo) secured cards are more for people with no credit history bs someone with derogs.

I would mAybe even try a creditunion, my first secured cc was withone. No creditpull, 9% apr, and no annual fee... That's better than cap1.

Starting Score: EQ 515 TU 490 EXfaco 510
Current Score: EQ 660 TU 665 EXplus 661
Goal Score: 700


Take the FICO Fitness Challenge
Message 4 of 14
Senior Contributor

Re: Need a Secured Card that reports to all 3 - Don't care about anything else

Since you are a US Bank customer, you will have a much better chance getting a secured card with them.Start with them.

 

Capital One would be next choice, I really like their secured card.   Very easy to add to deposit.

 

Public Savings Bank is next choice, for really awful credit.  

 

They all report to all 3.

Message 5 of 14
Regular Contributor

Re: Need a Secured Card that reports to all 3 - Don't care about anything else

I got a Secured Harley card from U.S. Bank when my credit score was around 610. They would not give me the instant approval. I had to mail in the check and wait to see if it would be approved. It does have rewards, but nto as good as the real cards have.


Starting Score: 580
Current Score: EQ740, EX695
Goal Score: 850


Take the FICO Fitness Challenge
Message 6 of 14
Contributor

Re: Need a Secured Card that reports to all 3 - Don't care about anything else


dude11 wrote:

As far as adding additional deposits with US Bank secured card I was told by 2 CSRs that it can be done. They will allow you to add an additional deposit after you have had the card for 6 months with good payment history (not going over the limit and paying on time). However, one of them said it was going to be a hard pull when adding an additional deposit. The other CSR did not say whether it would be a soft or hard pull.

 

Hope this helps!



Are you sure about the hard pull? I've done a lot of research on this card and I have never heard anything about pulling credit when adding deposit. That's only with Bank of America.

Message 7 of 14

Re: Need a Secured Card that reports to all 3 - Don't care about anything else

In that case I'll go ahead and start with my bank first. 

Does it hurt or help to have a larger deposit?  My thinking is it would help improve my scores a little faster, but at the same time it could be looked at by the bank as a larger risk.  I'm not thinking of putting down anything huge, probably 400 or 500, at least a few bills above the minimum.  I don't even plan on carrying the debt over month to month anyway so I really wouldn't need anything close to that much, but it just gives me room to breath if I want to use the card for a larger purchase to get some additional card activity.

Starting Score: EQ 689 | TU 663 | EX 680 (1/2016)
Current Score: EQ 735 | TU 663 | EX 680 (2/2016)
Goal Score: EQ 750+ | TU 750+ | EX 750+ (1/2017)
Message 8 of 14
Frequent Contributor

Re: Need a Secured Card that reports to all 3 - Don't care about anything else


starting_over30 wrote:

Does it hurt or help to have a larger deposit? 


 

 

From my experience, it helps a lot. Larger CL help getting larger TLs when applying for new card. I would recommend make it $2000 or more if you could afford it. You will save yourself hassle being stucked in toy limit and waste fewer inquiries requesting CLI.

 

Message 9 of 14
Senior Contributor

Re: Need a Secured Card that reports to all 3 - Don't care about anything else


starting_over30 wrote:

In that case I'll go ahead and start with my bank first. 

Does it hurt or help to have a larger deposit?  My thinking is it would help improve my scores a little faster, but at the same time it could be looked at by the bank as a larger risk.  I'm not thinking of putting down anything huge, probably 400 or 500, at least a few bills above the minimum.  I don't even plan on carrying the debt over month to month anyway so I really wouldn't need anything close to that much, but it just gives me room to breath if I want to use the card for a larger purchase to get some additional card activity.


 

 

 

 

The bigger the better.   You definitely want breathing room.   It may help you get a bigger limit in the future.   Of course, you can build it up as you go.

 

   

 

Message 10 of 14