Best secured card

[Anonymous]

What I did is signed up for a checking account with a Credit Union and then waited awhile, applied for a secured card and got another one through Capital One since all they wanted was a $49 deposit for a $200 credit limit.

Worked out for me

[Mellykca]

I am a member of a credit union. They didn't list one on their site, but I called and asked today. They said they do offer one with 9% interest and no anual fee. However, you need to provide 110% of your desired credit limit. So if I want a $300 credit limit, I must provide $333 as my collateral. Does that sound ok or should I keep looking?

[Anonymous]

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@Mellykca wrote:
I am a member of a credit union. They didn't list one on their site, but I called and asked today. They said they do offer one with 9% interest and no anual fee. However, you need to provide 110% of your desired credit limit. So if I want a $300 credit limit, I must provide $333 as my collateral. Does that sound ok or should I keep look

I would ask them things like How long until before being considered for a unsecured card? (in my case they told me a year but I did it in 10 months)

Do they graduated into a unsecure card? Meaning do they just soft pull or do they make you apply for another card which is a hard pull. Can you increase your desposit at any time? (believe or not some of them are kinda funny when it comes to that)

Theses are the things I can think of and I'm sure others on here have input as well.

[Anonymous]

Oh another thing when you finally get your unsecured card from Credit Union ask for max amount!

They may low ball you otherwise, for example I asked for $5000 which I knew I could not get based on my scores but they countered at $3500 which I happily took.

Not all CU's allow you to ask for limit on credit but mines did so I thought I mention it.

[sjt]

Here is a secured card thread:

Secured Card List

[Mellykca]

It can unsecure, but they didn't give me a time when. I can add to it at anytime, but would always be 110% of what I want my limit to be.

I'm. It fond of the 110% thing, but I do like the interest rate compared to my capital one card. Otherwise I can keep looking.....

[Anonymous]

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@Mellykca wrote:
It can unsecure, but they didn't give me a time when. I can add to it at anytime, but would always be 110% of what I want my limit to be.

I'm. It fond of the 110% thing, but I do like the interest rate compared to my capital one card. Otherwise I can keep looking.....

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I second the NFCU route.