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What score do I need to get a secured card

New Member

What score do I need to get a secured card

Just getting started rebuilding, and seems like everyone is suggesting a secured credit card as a great step forward. However, I really don't want to get denied for a secured card app. My score is bumping up each month as I get a little distance from my struggles to pay on time. It is at 556 now. Should I go ahead and apply for a secured card now, or should I wait another month or two?

Message 1 of 26
25 REPLIES
Mega Contributor

Re: What score do I need to get a secured card


loudcityjimmy wrote:

Just getting started rebuilding, and seems like everyone is suggesting a secured credit card as a great step forward. However, I really don't want to get denied for a secured card app. My score is bumping up each month as I get a little distance from my struggles to pay on time. It is at 556 now. Should I go ahead and apply for a secured card now, or should I wait another month or two?


I would get the secured card and make deposits on it frequently to set you up for bigger CL's in the future.. Make sure you garden the account for at least 6 months to a year to help gain good payment histoy.




EQ FICO 548 3/3/16
Message 2 of 26
New Member

Re: What score do I need to get a secured card

Thanks. I have read quite a bit on the forums about different secured cards...any idea of which ones will approve me at my current score?

Message 3 of 26
Valued Member

Re: What score do I need to get a secured card

i believe that is not  on the credit  score    they look more into your income  because the secured card  will be based on what you deposit in to the card  so as higher as you deposit is  the higher that  you credit  line will be    i just  got a 5000 dollars capitalone secured  card  and  it  has bosst my  credit more 

Seedling:
Message 4 of 26
Valued Member

Re: What score do I need to get a secured card

capital one  will aprove you  no doubt      the  require  at least  200 dollars sometimes  just 49.99  to get you a 200  secured card then its up 2 you  if you wanna deposit more money in the account  just call them to deposit more  and  you will have more credit line

Seedling:
Message 5 of 26
Senior Contributor

Re: What score do I need to get a secured card

You might want to talk to some local CUs. They are often more flexible and user-friendly than banks. They should be able to give you *some* idea before pulling your credit if you could get a secured card with them.

 

 

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 6 of 26
Mega Contributor

Re: What score do I need to get a secured card


loudcityjimmy wrote:

Thanks. I have read quite a bit on the forums about different secured cards...any idea of which ones will approve me at my current score?


I would give Cap1 a shot. They will pull all 3 bureaus but they are a very good secured card!




EQ FICO 548 3/3/16
Message 7 of 26
New Member

Re: What score do I need to get a secured card

Thanks guys...I will apply for the capital one card and see how it goes.

Message 8 of 26
Valued Member

Re: What score do I need to get a secured card

ALRIGHT  LET US  KNOW   HOW IT  GOES    GOOD LUCK 

Seedling:
Message 9 of 26
Mega Contributor

Re: What score do I need to get a secured card


loudcityjimmy wrote:

Thanks guys...I will apply for the capital one card and see how it goes.


Fingers crossed for you!!




EQ FICO 548 3/3/16
Message 10 of 26