Secured card questions

Anonymous · ‎02-26-2017

So, due to some relationship issues and ID theft a few years ago I canceled all my credit cards, which was stupid. And due to some overdraft fees on somebody else part on my account I even closed my bank account. Recently I started cleaning up my credit again. My first step was to dispute some things that were not mine and I was successful. But as it stands now I've got a few baddies left on my reports . My FICO score is 585. I just joined my local credit union. They don't offer a secured card for about six months and require a $500 deposit. Are there any credit unions or secured cards out there that don't do a hard pull and that don't require a huge deposit in order to secure a card that will report to all three bureaus ? As it stands now because of all the cancellations, I'm showing zero credit across the board and it's hurting my scores. The only thing I have open is a Belk store card on Ex.

Thanks!

Anonymous · ‎02-26-2017

@Anonymous wrote:
So, due to some relationship issues and ID theft a few years ago I canceled all my credit cards, which was stupid. And due to some overdraft fees on somebody else part on my account I even closed my bank account. Recently I started cleaning up my credit again. My first step was to dispute some things that were not mine and I was successful. But as it stands now I've got a few baddies left on my reports . My FICO score is 585. I just joined my local credit union. They don't offer a secured card for about six months and require a $500 deposit. Are there any credit unions or secured cards out there that don't do a hard pull and that don't require a huge deposit in order to secure a card that will report to all three bureaus ? As it stands now because of all the cancellations, I'm showing zero credit across the board and it's hurting my scores. The only thing I have open is a Belk store card on Ex.

Thanks!

Not that won't do a HP. Not sure why everyone is so scared of inquiries... they are necessary.

Anonymous · ‎02-26-2017

Not a credit union, but Capital One's secured card starts at $200.

Anonymous · ‎02-26-2017

@Anonymous wrote:
So, due to some relationship issues and ID theft a few years ago I canceled all my credit cards, which was stupid. And due to some overdraft fees on somebody else part on my account I even closed my bank account. Recently I started cleaning up my credit again. My first step was to dispute some things that were not mine and I was successful. But as it stands now I've got a few baddies left on my reports . My FICO score is 585. I just joined my local credit union. They don't offer a secured card for about six months and require a $500 deposit. Are there any credit unions or secured cards out there that don't do a hard pull and that don't require a huge deposit in order to secure a card that will report to all three bureaus ? As it stands now because of all the cancellations, I'm showing zero credit across the board and it's hurting my scores. The only thing I have open is a Belk store card on Ex.

Thanks!

Open Sky is a viable secured credit card option. Have you looked into Capital One secured card; it requires 3 HP across the 3 bureaus, but it can open the door to better card approvals. As pointed out, HPs are a necessary evil will applying for credit and working on improving your credit profile.

Anonymous · ‎02-26-2017

Open Sky has a secured card that can be issued with no credit inquiries.

rmduhon · ‎02-27-2017

Cap1 secured cards have either a 49, 99, or 200 deposit for a 200 SL. You can add more when you open it if you like. I started with one, now I have roughly 80k worth of credit 14 months later

Anonymous · ‎02-27-2017

Thanks for the input. I'll look at open sky 👍
Cap One is a no go I think- old charge off that PRA is trying to collect on, out of SOL.
As far as the HP i just want to build up a bit more, score wise to take the point hit and to not waste a HP with low scores.

Anonymous · ‎02-27-2017

Open Sky would be your best bet if you aren't looking for a card that does a HP. Reports to all 3 monthly

Anonymous · ‎05-28-2017

how fast does open sky report? gonna finally pull the trigger

Anonymous · ‎05-29-2017

Open Sky info

Antknee wrote:
how fast does open sky report? gonna finally pull the trigger

Congratz on your choice to rebuild!

There is information on Open Sky in the link below.

In the "comments" section, there are several posts which mention when a person opened their card, and when it reported.

Perhaps this helps answer your question.

Best Wishes!!!

The Best (and Worst) Secured Credit Cards according to Beverly Harzog' opinion
http://www.beverlyharzog.com/the-best-and-worst-secured-credit-cards/

.