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Regular Contributor
doc101
Posts: 189
Registered: ‎11-27-2011
0

Best secured cards

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


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Current Score:EQ665 TU 663 EXP625 updated 12/6/2014
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Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
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Re: Best secured cards

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.

Regular Contributor
doc101
Posts: 189
Registered: ‎11-27-2011
0

Re: Best secured cards

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


Starting Score:Equifax 543
Current Score:EQ665 TU 663 EXP625 updated 12/6/2014
Goal Score: 650


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Valued Member
tooyoungforbadcredit
Posts: 41
Registered: ‎07-06-2012
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Re: Best secured cards

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.

In the garden since 7/27/12 after getting two credit rebuilding cards.

Starting Score: 527
Current Score: TU-617 Equifax-606 Experian Plus 569
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Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Best secured cards


doc101 wrote:

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


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.


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