Reply
Regular Contributor
Posts: 232
Registered: ‎11-30-2011
0

secured cards that graduate

I am looking for some suggestions about secured cc's that will graduate to unsecured. I was just approved for a cap 1 unsecured cc. I want to have a mix of 3 to rebuild my credit. Any suggestions on which cards I should apply for....thanks in advance for the replies!!!!!


Starting Score: EQ 564, TU 560
Current Score: EQ 724, TU 770, EX 789
Goal Score: 740


Take the FICO Fitness Challenge
Established Contributor
Posts: 913
Registered: ‎06-09-2011
0

Re: secured cards that graduate

Keep in mind that most secured cards aren't guaranteed to unsecure, they just eventually get reviewed for it. But some, like Cap One secured, just flat out won't unsecure.

 

As far as the big banks go, Cap One doesn't. Not sure about Orchard - but since they're gonna be Cap One soon enough, I'd assume the same. Citi's card takes 18 months before it can unsecure. Bank of America's is 12. I don't think Chase has a secured card. Not sure about US Bank and Wells Fargo, although I seem to remember a lot of negative comments about the WF secured card before.

If you're eligible, NFCU has probably the best secured card I can think of - you get rewards and there's no annual fee, and NFCU is reliable. Not sure if/how/when their secured card unsecures, though.


Have you thought about asking a local credit union about one? They might have faster unsecuring terms.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
Regular Contributor
Posts: 232
Registered: ‎11-30-2011
0

Re: secured cards that graduate

I would love a card with NFCU... but I am not eligible.


Starting Score: EQ 564, TU 560
Current Score: EQ 724, TU 770, EX 789
Goal Score: 740


Take the FICO Fitness Challenge
Valued Contributor
Posts: 1,074
Registered: ‎04-24-2008
0

Re: secured cards that graduate

The best way to unsecured a card imo is to app with another bank. But you want to let the secured card report on all 3 reports for at least 6 months to maybe a year before you app for a unsecured card with another bank. AND make sure the secured card reportings are in perfect standing for 6 solid months. App with another bank (their rival being the best) and you will get it imo. It may be a low CL but at least you get in the door :smileyhappy: Than 2-3 yrs down the road...you can get yourself a prime card with generous starting CL. Takes work but you are on track. GL :smileyhappy: ....2012 will be great for consumers w/good credit.

Regular Contributor
Posts: 203
Registered: ‎11-17-2011
0

Re: secured cards that graduate

And if the world doesn't end 2013 will be amazing for me because all inq fall off and I will be getting a real credit limit and will be getting rid of toy cards
Fico's in 500s across all three and one nfcu nrewards card with 2k limit for rebuilding
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.