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So far we have Capital One and USAA. And I think USAA allows a high credit line, is that right?
Up to a $5000 deposit, which goes into a 2 year variable rate CD. It's what I did, can't wait to get my money back in Feb.
From this thread:
http://ficoforums.myfico.com/t5/Credit-Cards/Best-secured-credit-card/td-p/1555094/page/3
Did you get cards from both Cap One and USAA?
Yes I did. Both are in my posession. I opened the Cap One to essentially replace the USAA amex when it expires in Feb.
@BearOSO wrote:Yes I did. Both are in my posession. I opened the Cap One to essentially replace the USAA amex when it expires in Feb.
What do you mean by "expire"? Does your card graduate?
@HiLine wrote:
@BearOSO wrote:Yes I did. Both are in my posession. I opened the Cap One to essentially replace the USAA amex when it expires in Feb.
What do you mean by "expire"? Does your card graduate?
Unfortunately it does not, but I am hoping to get an unsec CC that can match the CL I have with my USAA secured. My two years comes up mid Feb, I can either renew and extend the CC for another two years or I can close it and get my cash back plus interest. If my hopes and dreams fail, I will just extend the sec CC and garden some more.
Did you mean that USAA closes your secured card with them unless you extend the card?
Yes. Only two options are extend or close the account.