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Opinion......

Regular Contributor

Opinion......

What would you consider the best secured card for rebuilding credit?


Starting Score:Equifax 543
Current Score:EQ659 TU 716 EXP677 updated 7/3/2016
Goal Score: 700


Message 1 of 7
6 REPLIES
Moderator Emeritus

Re: Opinion......

IMO, any secured card works if you have none reporting. I started with BofA and Orchard Bank back in the day.

Message 2 of 7
Moderator Emeritus

Re: Opinion......

Several members also go with Cap1.  But I like BOA if you can swing it.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 3 of 7
Highlighted
Established Member

Re: Opinion......

I did Cap1, They even gave me a $100 increase with a secure card after a year. Just keeping it now because its the oldest card I have and no fees.

Message 4 of 7
Valued Contributor

Re: Opinion......


dzemboc77 wrote:

I did Cap1, They even gave me a $100 increase with a secure card after a year. Just keeping it now because its the oldest card I have and no fees.


I did the exact same thing.. put 200 down, got the card, and they gave me that extra 100 about a year later.

 

I also keep it, no fees. I don't use it anymore, but it def. served its purpose.

 

A lot of people complain about Cap1's customer service, but on a 200 dollar secured card, it is what it is.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Message 5 of 7
Regular Contributor

Re: Opinion......

I have  Cap 1 secured with $500 limit......not a bad card.....has really helped me with my rebuilding. Thought of getting another card but haven't  decided yet


Starting Score:Equifax 543
Current Score:EQ659 TU 716 EXP677 updated 7/3/2016
Goal Score: 700


Message 6 of 7
Regular Contributor

Re: Opinion......

BofA as they can unsecure it in 12 months . i had cap1 secured for 2 years with no added benefit of it possiblly unsecuring . both require credit checks and BofA can sometimes deny people for there secured card but cap1 normally accepts everyone and theirs also has 25-50% unsecured at the time of application. BofA maximum $4900 and cap1 3000. ive had both i perfer BofA




Starting Score: 5/30/13 TU 630; EQ618: EX PLUS639
Current Score: 4/2/15 TU 661; EQ 617; ; EX FICO 631
Goal Score: 700






Message 7 of 7