Capital One Secured

[Anonymous]

---

@A1Credit wrote:

@Thank you @Anonymous for that detailed explanation.  I may try for one of those as well.  Do you recommend a specific unsecured card?  Discover, Capital One, Chase?

---

I went with Capital One myself, but a lot of people say Discover's is also quite good - IIRC a number of people report that with a good history it'll graduate to an unsecured Discover. I don't know about Chase.

[Anonymous]

@rmduhon @greatnowwhat

Thanks for the detailed explanation, guys. I just really don't want to fall into the same trap as before. Even after graduating back to unsecured cards in the future, I don't think I'll be using them very much.

5-10 point increases each month is way better than where I'm currently at.

[Anonymous]

@a1credit

Don't worry about hijacking this thread 👍🏻 Any input helps.

@joe8185

I applied for a Discover It card two days ago because it's the only secured card I've found with benefits, other than reporting to the three CRA's. Unfortunately, they denied my approval for it. Maybe after my student loan rehabilitation is done and I've used the Cap1 card awhile, then I'll try again.

[Anonymous]

---

@Anonymous wrote:
@A1Credit

Don't worry about hijacking this thread 👍🏻 Any input helps.

@Anonymous

I applied for a Discover It card two days ago because it's the only secured card I've found with benefits, other than reporting to the three CRA's. Unfortunately, they denied my approval for it. Maybe after my student loan rehabilitation is done and I've used the Cap1 card awhile, then I'll try again.

---

The cap1 secured card is great. With 5th statement cut of 100% on time payments, you'll receive an auto CLI, and at the 11th statement, you'll graduate! All you have to do is pay on time and they will reward you. 

Not sure about odds with Citi, and Citi takes your deposit up-front, so unless you can get approved for Disco, I would avoid Citi for now. 

Other secured cards worth looking into (avoid any bank you have debt with already, or recently paid off debt with):

Bank of America

NFCU (anyone can join through Navy League San Diego chapter - must apply via email or fax after getting membership)

State Department Federal Credit Union (SDFCU) (anyone can join through membership to American Consumer Council for $15)

Digital Credit Union (DCU)

NASA Federal Credit Union (anyone can join through membership to National Space Society)

US Bank

Connexus Credit Union (anyone can join)

First Tech Digital Credit Union (anyone can join through membership at the Financial Fitness Association OR the Computer History Museum)

USAA (if you're eligible)

Wells Fargo

First National Bank (not available in all states, check first)

SunTrust Bank

5/3 Bank

You can also check your local credit unions. ^_^