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Secured Credit Card Question?

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Quzy
Valued Member

Secured Credit Card Question?

So, I have been slowly rebuilding my credit, I have paid off all of my collections and am slowly getting them dropped off of my credit report, my credit was at a huge low of 450, and it's now at 518! I know it's not much, but is there any secured cards I can apply for (besides Capital One, I have been denied for them in the past 7 months, I would prefer not to go with them for now) that may help with the process?

 

Thank you very much!

Message 1 of 6
5 REPLIES 5
Jarnog
Frequent Contributor

Re: Secured Credit Card Question?

Local CU if you are able.

 

Maybe SDCU (I believe it's called).  I think, if I remember correctly, they do a SP to approve/open.

 

I also think there is one called OpenSky or something of that nature that takes everyone with a SP (although I could be wrong about the SP aspect).

 

Great work and good luck!!! I hope this helps

 

Message 2 of 6
Revelate
Moderator Emeritus

Re: Secured Credit Card Question?

SDFCU is the full acronym: likely second best secured card currently and it's effectively guarunteed.  Go do that would be my recommendation as if C1 is out, likely BOFA is too unless you bank there perhaps.

 

OpenSky, depends what else is on your report before you go down that road in my estimation.




        
Message 3 of 6
Quzy
Valued Member

Re: Secured Credit Card Question?

I am extremely sorry, but the abbreviations, is there a thread I can look them up on? Haha, I just don't know any of them and Google is not helping too much Smiley Wink 

Message 4 of 6
Revelate
Moderator Emeritus

Re: Secured Credit Card Question?


@Quzy wrote:

I am extremely sorry, but the abbreviations, is there a thread I can look them up on? Haha, I just don't know any of them and Google is not helping too much Smiley Wink 


Heh, first Google response on SDFCU is the one you're looking for.  State Department Federal Credut Union.

 

SP = soft pull / soft inquiry = doesn't hurt your credit score.  

 

Beyond that: http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458




        
Message 5 of 6
Quzy
Valued Member

Re: Secured Credit Card Question?

Thank you so much Smiley Happy I will be checking into that right now 

Message 6 of 6
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