Secure Credit Cards

[dujaidecor]

I am about a month into rebuilding my credit. I have had some success over the last month from 400s to 500s and still of course a long journey.

I want to apply for a secure credit card but have been denied in the past for one. I don't want to get a hard inquiry without being approved. Any suggestions?

Do I wait until my score improves more? HELP!!

[Datx]

I think its going to be pretty tough to predict if you would get approved or not. It really just varies from lender to lender. When I started to rebuild about 2 years ago, PSB was fairly popular on 'no credit check' secured cards. I dont know of any right now. Have you looked into a local CU to see if they offered secured cards? I never done this myself, but there was suggestions on taking a hard copy of your credit reports and sitting down with a LO at a local credit union to see if you can qualify for their secured card. Kinda like getting yourself pre-qualified before actually applying.

[dujaidecor]

I have inquired with my  local CU but  they dont offer a secure credit card .

[Datx]

Just curious, which secured card have you applied and was denied for? And where are you located if you dont mind me asking.

[dujaidecor]

I applied for Capital one secured card and was denied. I am located in New Jersey.

[xlr8d]

Cap 1 should be a go.

local CU's are good they usually don't have a AF either.

all the bank secure cards are usually only for building credit, not for rebuilding

[Crashem]

Can you give us some details on what baddies remain on your credit report?  example, chargeoff Amex 2010.  etc.  There are various options no matter how bad.

[xlr8d]

Do you have any lines of credit reporting? car, house, creditcards?

[namvet]

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@Datx wrote:

I think its going to be pretty tough to predict if you would get approved or not. It really just varies from lender to lender. When I started to rebuild about 2 years ago, PSB was fairly popular on 'no credit check' secured cards. I dont know of any right now. Have you looked into a local CU to see if they offered secured cards? I never done this myself, but there was suggestions on taking a hard copy of your credit reports and sitting down with a LO at a local credit union to see if you can qualify for their secured card. Kinda like getting yourself pre-qualified before actually applying.

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  PSB (public savings bank) secured card division was purchased by Capital Bank.  Their secured card with no credit check can be found at www.openskycc.com.

[Crashem]

That card used to be pretty good.  I feel it is a bit over the line now as a secured card.  There are better ones out there.

For example, that firstprogress.com looks better.