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I may be posting this in the wrong category if so I apologize in advance. I'm looking for a secured CC and I would like to find out who everyone would recommend. I've already got a Capital One platinum card but I need(?) another positive tradeline so I was thinking a secured card may be the way to go. Any suggestions?
Are you sure you need a secured card? Is your Cap One card secured? How long have you had it?
No my Capital One Platinum is not secured.....I wanted to go secured because I'm still in the rebuilding stage and I dont want a frivelous pull on my credit. I just need another positive tradeline reporting.
Ok i see. All secured cards will do a HP on your credit report except opensky and i don't think you would want that card. Depending on how long you have had your Cap One and your other credit history, you may qualify for another unsecured card.
@Anonymous wrote:No my Capital One Platinum is not secured.....I wanted to go secured because I'm still in the rebuilding stage and I dont want a frivelous pull on my credit. I just need another positive tradeline reporting.
NFCU - if you can get it, and if you don't qualify under their standards for an unsecured product
BOFA - likely hardest to get but an excellent secured product
USAA - doesn't graduate but in all ways a good product with a good reputation, can add additional funds to it without a HP
USBANK - good reviews from users on the forum but considered less than BOFA overall
CITI - Not much knowledge here, nobody seems to have one but their reputation as a lender doesn't suck so it might be worthwhile to try
WELLS - They used to have a terrible reputation on bait and switch tactics re; graduation, but there's been a bunch of recent secured graduations so perhaps they're back in the gene pool.
CAP 1 - skip this if you already have that tradeline, try for a recognized prime lender for satisfying silly underwriting criteria if they exist. They're pretty good otherwise from what I've heard.
This isn't an exhaustive list but it's pretty representative of the reasonable choices I think.
Edit and PS: If you're looking a few years out and think you may ever want a tradeline with any of the above or other lenders (except C1 since you already have that relationship), apply for their secured product. Don't discount the benefits of being able to play the customer loyalty card if you're ever stuck reviewing your application for a card or additional loan type.
Thank you Revelate. Exactly what I was looking for!!!
@Revelate wrote:
@Anonymous wrote:No my Capital One Platinum is not secured.....I wanted to go secured because I'm still in the rebuilding stage and I dont want a frivelous pull on my credit. I just need another positive tradeline reporting.
NFCU - if you can get it, and if you don't qualify under their standards for an unsecured product
BOFA - likely hardest to get but an excellent secured product
USAA - doesn't graduate but in all ways a good product with a good reputation, can add additional funds to it without a HP
USBANK - good reviews from users on the forum but considered less than BOFA overall
CITI - Not much knowledge here, nobody seems to have one but their reputation as a lender doesn't suck so it might be worthwhile to try
WELLS - They used to have a terrible reputation on bait and switch tactics re; graduation, but there's been a bunch of recent secured graduations so perhaps they're back in the gene pool.
CAP 1 - skip this if you already have that tradeline, try for a recognized prime lender for satisfying silly underwriting criteria if they exist. They're pretty good otherwise from what I've heard.
This isn't an exhaustive list but it's pretty representative of the reasonable choices I think.
Edit and PS: If you're looking a few years out and think you may ever want a tradeline with any of the above or other lenders (except C1 since you already have that relationship), apply for their secured product. Don't discount the benefits of being able to play the customer loyalty card if you're ever stuck reviewing your application for a card or additional loan type.
+1 it doesnt get any better than this!
Just to add, you can't get a USAA secured card unless your a full member. I've already tried that route and it's a no go unless your a full member.
Also, US Bank won't even allow you to get their secured card with a bankruptcy reporting. At least, that's what they told me.
Current Cards: Cap 1 Journey $3000, Cap 1 Playstation $2250, WFNNB Store Cards $2450 combined, Target $700, CareCredit $1700, Barclay Rewards Plat. Mastercard $1800, Old Navy $300, DCU Platinum Rewards Visa $2000, Swagbucks Rewards Visa $1000
Starting Score: 615 EQ (03-15-2012) 600 TU (03-21-2012 Barclays app) ) Ch.7 discharged 5/2009
Current Score: 671 EQ (09-27-2014 DCU) 660 TU (9/26/14 Barclays) Ex 688 (10/07/2014 Swagbucks)
Gardening since 9/22/2014
@Anonymous wrote:I may be posting this in the wrong category if so I apologize in advance. I'm looking for a secured CC and I would like to find out who everyone would recommend. I've already got a Capital One platinum card but I need(?) another positive tradeline so I was thinking a secured card may be the way to go. Any suggestions?
I would look into a Credit Union. Most CU do not convert, but most do not pull your credit and do not report as a secured card.
A really good one is SDFCU (State Department Federal Credit Union.) Thier secured card is a Platinum with a 6.5 APR. They do not have annual, cash advance or foreign transactions fees. They do not report as a secured card nor do they pull credit.