Re: oh... & they will unsecure after a year...[ Edited ]
10-04-2012 04:33 AM - edited 10-04-2012 04:35 AM
I didn't now secured cards ask you to clean up your credit, although I was originally turned down for a BOA secured, even though I bank with them. Later, they offered it to me when I was in the bank doing some other business, so they might be one of the cards that actually relies on your credit. There are other secured cards though, like Capital One, that don't make you clean up your credit to get a card. I don't have one but I have ran the soft pull a few times for others in my family and they always get a good offer. Unless you're stuck on getting your card through your bank, you could look for other highly rated secured cards.
And don't you dare pay those 6-7 year old collections! Verify the dates, how are they reporting? If they are indeed reporting as even 6 years, their SOL might be up so I really wouldn't touch them. If its near 7 years, they're about to disappear anyway!