Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
Re: Secured credit card

athan12 wrote:

I have a student credit card right and it's been past due for a very long time, but I just paid off all of my debts last week, so basically I'm just starting to rebuild my credit again.

 

I'm planning to get a secured credit to build up my credit making me have 2 credit cards. I was just wondering what company to apply for a secured credit card. My score is at 570 right now. Which credit cards flags a secured credit card and which ones dont?


You should try to GW your lates. If it's only one CC, then GW them. Can you come up with an explanation as to why you hadn't been paying? Try searching on here under Goodwill or GW, or post in the rebuilder thread. Generally, you need some kind of a good reason to explain why you didn't pay. And sometimes it takes persistance.

 

You do need to be approved for a secured card. And I don't know how that would help you right now. You still have your student card, right? Just start using that a little bit and PIF every month. That will likely also help your GW situation since they'll see that you're using your credit responsibly now.

 

BTW, USAA will only counter for a secured card to FULL members, which means either you are in the military or you have a family member who is or was a member of USAA. Having family in the military who aren't a USAA member does NOT qualify you for full m'ship. They would need to join USAA first. And USAA is a pretty conservative lender. Yes, they give generous CLs, but they are not lenient by any means.

 

 

 

 

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!