OpenSky Vs. First Progress Secured Cards

[Anonymous]

I have First Progress card for about two months now.  It reports timely, the CRA updates are timely and no real issues yet *crossing fingers*.  They also just released an option to do bill pay with your bank that eliminates the 10-day hold (take about 3 days for funds to update).  I plan to use until the next annual fee approaches and then cancel.  My other two secured cards are now reporting (one with Capital One) so I will use those more than First Progress, but it seems to be an OK card for now.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Capital One is pretty forgiving.  I had a charge off with them from 2014 when I got my secured card with them in March.  Not sure about Discover though.  

---

The charge off is only $550, so I'll look at getting it paid off, then I'll try to apply! Thank you so much for the advice!

---

How old is the CO? It must be over 12 months old to qualify for a new account.

---

Is this a rule of thumb in general for accounts, or just Capital One? The Discover card was first charged off in April of last year, and the Capital One was in July of last year.

---

This is specific to Capital One, it is stated clearly in their disclosures. One of the disqualifiers is having a capital one account charged off within 12 months.