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THE TOP SECURED CARDS ON THE MARKET

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Nola_Bee
Contributor

Re: THE TOP SECURED CARDS ON THE MARKET

Regarding the PNC secured card.. I went into a PNC branch this week and spoke with the branch manager. You do not need to have a PNC deposit account (checking or savings). She advised that you must provide a cashiers check or money order for the amount of the line that you want to apply for.

Message 11 of 69
TiggerDat
Valued Contributor

Re: THE TOP SECURED CARDS ON THE MARKET


@Nola_Bee wrote:

Regarding the PNC secured card.. I went into a PNC branch this week and spoke with the branch manager. You do not need to have a PNC deposit account (checking or savings). She advised that you must provide a cashiers check or money order for the amount of the line that you want to apply for.


You must go to the branch to apply for the card also.  I have banked with PNC for a very long time and they are a great bank! 

 

I did consider them when I started rebuilding, but instead got a Merrick Bank secured card.  They were great too.  All the way to the end they were great.  Only problem that I did not like is that they don't grow with customers!  You never get your security funds back unless you close the card.  You can't get your AF waived, which gets billed monthly.  I would like to have kept that card in my signature, but alas the security funds and the AF did away with the card!  I had almost 6 years of history to it!  However, with the other cards which are in my signature now I don't need to worry about it.

 

I am actually happy that I did not get the PNC secured card now!  I might not have gotten the Signature Card with them that I recently got!  The card might not have built itself up enough to that in time that I would have had the card.  Just something else to think about before getting a card from someone you bank with!  They might classify you as a different type of customer or it might prevent something better in the future.  I can't say for certain that in my situation it would have prevented what I have now or not, but I do know they have some requirements which do prevent some people from getting cards.  Some of these requirements can be time based.  Your BK might prevent you for a certain period of time.  For others it might be the last default you have. 

 

PNC doesn't advertise this card, not that I know of anyway.  If they do it has been a recent strategy.  So I think they are a bit conservative on their cards.  I know their regular cards are a bit conservative.  (I don't mean Capital One conservative, ha ha.  If you know what I mean!)  I also think how they treat you is dependent on how much money you have in their bank.  I should not have been approved for a Signature card from them with all the inquiries I had at the time and new accounts.  I did have a fair bit of money in my account with them so I think that was a factor in approving me and upgrading me to the Signature card!

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
Message 12 of 69
goosedog
Regular Contributor

Re: THE TOP SECURED CARDS ON THE MARKET


@Nola_Bee wrote:

Regarding the PNC secured card.. I went into a PNC branch this week and spoke with the branch manager. You do not need to have a PNC deposit account (checking or savings). She advised that you must provide a cashiers check or money order for the amount of the line that you want to apply for.


Thanks NOLA BEE. I have updated the list to indicate that information. I looked online and did not even see it advertised but i know its popular amoung credit builders. The only info I found online about requiring a PNC account was a credit building site from money.com. So the information must have changed.

Message 13 of 69
rodzilla2013
Valued Member

Re: THE TOP SECURED CARDS ON THE MARKET

Goosedog,

 

Thanks for this, I was just asking for this..

 

May your credit score continue to prosper :-)

 

Message 14 of 69
dobirdsmommy
Established Contributor

Re: THE TOP SECURED CARDS ON THE MARKET

I dont remember what my score was 1.5 years ago when I got the card but it was not anywhere near 515, it was less and I had just had a CO from Cap One in 2009, but both my husband and I only have to put down 49 for 200. Capital One gave us unsecured increases from there.

building since 2011 Wallet:ME: Walmart 3k;Barclays Rewards 10k, Venture 18k; Slate 5k; Freedom 10k; overstock 4.8k, SGV2.5k; WEMC 20k 1.5 Rewards, Gamestop 1.2k, Fingerhut 3k; 2 NMAC Leases , VS 1.75k, BH 1.62k, Express 1.6k, Avenue 1.75k, JCrew 5k, HSN 1.47k, Torrid 1.55k, Roamans 1.4k, Jessica London 1.54k, kings direct 1.7k, Buckle 1.4k, WW 1.65k, ........ baddies:Fed Tax Lien
DH: 1750 capital one fh 2000, AU - VS, BH, HSN, WEMC, SPGV. Freedom, Slate, Venture, Barclays
Message 15 of 69
HiLine
Blogger

Re: THE TOP SECURED CARDS ON THE MARKET

Thanks for compiling the list! I just wanted to add that BofA can add the Cash Rewards feature to the secured card, making it earn 1%, 2%, or 3% cash back depending on the category of purchase. And the card reliably graduates within 12 months, in some cases as early as 6 months, as long as the balance is always paid in full.

Message 16 of 69
themizlyne
Regular Contributor

Re: THE TOP SECURED CARDS ON THE MARKET

There is also Armed Forces Bank www.afbank.com - the interest rate is increasing in September from what's advertised. The money is deposited into an 18 month CD that you can add to at any time for a $5 fee (free adds start 4 Sep). They only soft pulled my account and I was in the high 400s when I got mine. I just got a Capital One $1000 unsecured and am in the low 600s. I haven't reached 18 months yet, so don't have graduation experience to report, but the site says it can be graduated.
Message 17 of 69
goosedog
Regular Contributor

Re: THE TOP SECURED CARDS ON THE MARKET

I am not sure the armed forces would qualify as a secured card since you are required to be a member or relative of a member in the military directly. It's not like the NFCU where you can get in if for example you are friends with someone in the military and live in the same household.

 

The card isn't open to the general public to apply like CAP1 or USA OR BOA for example.

Message 18 of 69
goosedog
Regular Contributor

Re: THE TOP SECURED CARDS ON THE MARKET

I added another card to the list. The 5th 3rd bank secured mastercard. One of the benefits of the card is free emergency roadside assistance.

Message 19 of 69
sjt
Senior Contributor

Re: THE TOP SECURED CARDS ON THE MARKET

I thought the maximum for Citibank was $5000. Did they raise it to $10,000?

 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 20 of 69
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