Rebuilding Your Credit

[doc101]

What do you guys consider the "best secured card" for rebuilding credit. I have one secured (Cap 1) and one unsecured (Orchard Bank, now Cap1). Am looking for a 3rd card in my rebuilding stage. No need to Google when the best advice can be found out here lol

[llecs]

Any secured card is great, IMO (provided there aren't a lot of fees). I used HSBC/Orchard and BofA back in the day. Had I needed to do it over again, I'd opt for CUs instead.

[doc101]

I've read out here that BoA card is kinda hard to get......is this true?

[tooyoungforbadcredit]

I here BOfA secured is really good. They graduate you after around 12 months to an unsecured card, but there standards are a little higher than other secured cards. I also here first progress is pretty good, but you might want to consider just adding more to your CL on the cards you now have. It would be easier to manage, and since cap 1 doesn't report as secured it would look like you are responsible with higher amounts.

[llecs]

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doc101 wrote:

I've read out here that BoA card is kinda hard to get......is this true?

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I tried with an EX FICO in the upper 500s (back when we could pull our EX FICO). I was denied due to bad credit and a low score. I applied again with FICOs in the low to mid 600s for an unsecured and was offered a partially secured as a counter offer. They can be a bit tough to get. IMO, BofA isn't all that and a ball of wax. I'm unimpressed by them.