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Regular Contributor
doc101
Posts: 177
Registered: ‎11-27-2011

Opinion......

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


Starting Score:Equifax 543
Current Score:EQ658 TU 655 EXP627 updated 5/30/2014
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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Opinion......

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

Moderator
Shogun
Posts: 12,875
Registered: ‎04-15-2011

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
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Established Member
dzemboc77
Posts: 75
Registered: ‎10-12-2012

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.

Valued Contributor
rckstrscott
Posts: 2,659
Registered: ‎04-25-2011

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): 05/12: TU: 722 | EQ: 712 | EX: 686
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
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Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Regular Contributor
doc101
Posts: 177
Registered: ‎11-27-2011

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:EQ658 TU 655 EXP627 updated 5/30/2014
Goal Score: 650


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Regular Contributor
imovinup
Posts: 130
Registered: ‎05-13-2011

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




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