Can anyone recommend a secured card. I googled best and worst of 2012 and they listed orchard bank mc / visa ? Any other ideas , thanks.
Depends on your credit file. Are you new with no history or rebuilding with negatives on your file?
I had both a Cap 1 and USAA. They are what they are, didnt have any issues with either. Both limits could be increased with deposits. Cap 1 also gave me unsecured CLI's. The USAA is an Amex and may not be as "usable" as the Cap 1 since its a MC and accepted at more places. USAA is definitely the one to go with if you want to upgrade to one of their unsecured cards later.
You could probably get a Cap 1 unsecured card witha 608.
Go to Cap 1 website and see if they match you up with one of their unsecured cards. My wife got one with a similar score. #50 to start but was part of the credit steps program and auto increased it to 500 on the 7th statement.
There are others on the forum who do not like Capital One. I'm probably among the minority who have been pleased with Capital One. I got a secured card from them 6 months ago. I paid $49 for the $200 card. Yes, it was a hard pull for each of the 3 CRAs (ouch). However, I haven't had any issues since opening the account. They report to the bureaus monthly. Their online bill pay is very user friendly. One drawback -- phone based customer service is not stateside.
You can go to Capitalone.com to see if you are prequalified. I recommend apping for the regular platinum card or cash rewards card for average credit first. If you are declined, they will offer the secured card.
Keep us posted!
Bad payment history
The rest are good
And very good credit available
One public record for chase mc
Last time I had a cc was in 06. 1 closed and 2 store cards closed. All from 06.
I recommend Capital One secured card among the major banks, as most of the other major banks prefer people with no credit and will likey deny. Capital One bought Orchard, so no point in applying for that instead of Capital One.
Credit Unions are also good place to get secured cards, if you belong to one or are eligible for one.
If you prequalify on Capital One web site, they may offer you an unsecured card. If you are only interested in low limit cards, that is a good way to go. If you want higher limits in the future, a secured card with a large deposit and CL is preferrable, IMO.
Avoid the high fee cards, as a secured card is usually much less expensive in the long run. (You get your deposit back).
If you qualify, I think the best secured card would be the one from BofA.
It's a well run program with clarity of terms for graduation to an unsecured product in 12 months. Usually, BofAs graduate with a CL and allow for potential product changes to other of their products.