topic Re: Car Crash CRASHED my credit. Need good secured credit cards. in Credit Cards

Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Mon, 09 Feb 2026 23:59:15 GMT

Hi everyone and thank you in advance for your helpful information. Here's my story. Imagine being in a car crash, and that incident putting you out of commission for months. Not a fun thing to experience. Being a true southerner, I don't mind having a good story to share during conversation. But to be honest, I certainly could think of less painful ways to get there. 😁. In any case nearly one year went by before I was able to start back working and earning a living. My credit suffered during that time. Essentially my credit is shot. All credit cards have been written off. My credit scores are horrible, in the high 590 area. So I'm starting over. If I receive the settlement amount(soon) based on what my attorney is estimating, I should be able to payoff all my debt and at least have a zero balance on all my credit cards. My question ❓ is, what secured credit cards should I go after? I want to have at least two cards. I would like for at least one of them to graduate to a regular credit card. If the other one doesn't graduate at least I can utilize that one as my all purpose card for bill paying. The settlement amount should be substantial. I want to get high limit secured cards in the $5000 to $10,000 range. A friend of mine mentioned looking at credit unions. What options have any of you had good feedback or experience with? Again thanks so much. PS , rebuilding credit is not fun.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

CaneVariant — Tue, 10 Feb 2026 00:20:33 GMT

Navy Federal Credit Union has a great secured card if you are eligible. BofA's secured CCR or US Banks secured altitude go are good choices as well.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

FicoMike0 — Tue, 10 Feb 2026 00:37:38 GMT

I've read that usb goes to $5000 on secured cards.

I'm not sure what you achieve by having high limit secured cards. A $300 limit card reports paid on time the same as a $5000 card.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

xenon3030 — Tue, 10 Feb 2026 02:34:47 GMT

You need ~2 secure cards:

Double check Elan Financial banks and credit unions in your region (clone of US Bank credit cards). They may have secure CCs. If by chance, you find two Elan financial institutes, you might be able to apply to each institute using one HP only (submit both applications within a minute or two from each other).
Discover might be a good option (not sure after the merge, they use one HP or three).

Keep us posted on the progress and how the things go.

PS: I assume that besides utilization ratio, you possibly do not have derogatory things like missed payments. If that would be the case, it would be simple to recover Fico8 after ~1-2m.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

AndySoCal — Tue, 10 Feb 2026 06:26:20 GMT

I would also agree with checking with a local credit union they have credit rebuilder cards and loans that can help you.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

Patient957 — Tue, 10 Feb 2026 18:58:39 GMT

@FicoMike0 wrote:
I've read that usb goes to $5000 on secured cards.
I'm not sure what you achieve by having high limit secured cards. A $300 limit card reports paid on time the same as a $5000 card.

It's fairly self-evident why someone who can afford it would want a $5000 secured card over a $300 one. The higher limit card is much more usable. There are obviously many things you can't use a $300 card for. The $300 card requires more management month to month to keep track of one's balance so as not to go over limit. A $300 secured card has it's place for some people, but a $5000 one is more flexible.

@BestTennisPlayerSinceBorg

In addition to credit unions, look at US Bank, B of A, and TD Bank.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

Gollum — Tue, 10 Feb 2026 18:08:42 GMT

@BestTennisPlayerSinceBorg wrote:
Hi everyone and thank you in advance for your helpful information. Here's my story. Imagine being in a car crash, and that incident putting you out of commission for months. Not a fun thing to experience. Being a true southerner, I don't mind having a good story to share during conversation. But to be honest, I certainly could think of less painful ways to get there. 😁. In any case nearly one year went by before I was able to start back working and earning a living. My credit suffered during that time. Essentially my credit is shot. All credit cards have been written off. My credit scores are horrible, in the high 590 area. So I'm starting over. If I receive the settlement amount(soon) based on what my attorney is estimating, I should be able to payoff all my debt and at least have a zero balance on all my credit cards. My question ❓ is, what secured credit cards should I go after? I want to have at least two cards. I would like for at least one of them to graduate to a regular credit card. If the other one doesn't graduate at least I can utilize that one as my all purpose card for bill paying. The settlement amount should be substantial. I want to get high limit secured cards in the $5000 to $10,000 range. A friend of mine mentioned looking at credit unions. What options have any of you had good feedback or experience with? Again thanks so much. PS , rebuilding credit is not fun.

Simmons Bank has a secured credit card (Foundation VISA) with a maximum limit of $5000, but must be applied for at one of their branches. Its geographic area is sorta centered in Arkansas, with branches in nearby states. https://www.simmonsbank.com/locations Part (the other part is their phone number) of the answer to one of the FAQs is: "After a year of responsible usage with the Foundation Visa, you could be eligible for an upgrade." I don't know how difficult it would be to upgrade the Simmons Bank secured credit card.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

Kforce — Tue, 10 Feb 2026 18:58:14 GMT

@CaneVariant wrote:
Navy Federal Credit Union has a great secured card if you are eligible. BofA's secured CCR or US Banks secured altitude go are good choices as well.

I would add the USBank Secured Cash+ card.

Both the Altitude Go and Cash+ or a Elan Financial - Cloan's have rewards that would more than cancel the savings loss.

The Discover and TDBank have caps, first year only benefits and/or fees.

Lower on the list in my opinion.

Wish secured cards with 5k and rewards were around 20 years ago for my kids.

Both are nice for those needing a secured card currently.

Good Luck

Re: Car Crash CRASHED my credit. Need good secured credit cards.

E36 — Tue, 10 Feb 2026 21:38:19 GMT

Hi, I've been exactly where you are at in terms of credit rebuild.

I personally would rather have the cash liquid in savings then being held as a deposit. My credit score was 508 (lower than yours) in July 2023. I have $29K in unsecured credit without ever having to put a deposit down.

With that said the deposit route is a good way to fast track, just do your research on how long it takes for cards to "graduate" meaning from secured to unsecured and return your deposit. Some banks and credit unions are faster than others.

From experience with P2, I HIGHLY recommend NavyFed, they have been transparent and great every step of the way. P2 put the minimum of $300, when NavyFed graduated the card they upped the limit to $500 and a few months after that they upped to $2,000. In less than 2 years, it's at CL $3,000. From what I hear Navy Fed is really generous with CL.

I personally was able to get a CapitalOne Savor Card (unsecured) when my credit was similar to yours 595/605/606 in March 2024. I also had charge offs as well. I even burned Capital One yet they offered me my first unsecured card during rebuild. It doesn't hurt to fill out the prequalification form. I don't know what's changed, but after denials, one day in 2024 they told me yes.

I also read good things about Discover when it comes to secured cards and graduation.

P2 was able to get an unsecured CapitalOne at 566 Experian FICO. They gave the option of the no perks Platinum card or the Annual Fee QuickSilver One card. My recommendation is to choose the no perks Platinum card, in 6 months to a year, you can upgrade it to a no annual fee QuickSilver, Venture, or Savor. If you choose the Annual Fee QuickSilver One card, they can keep you in there for a while.

Once I settled with my credit card companies for a percentage of the original, it helped with my credit score. When Citi sold their debt and I settled, the original debt no longer show up on my report. Citi still remembers though. I've burned Synchrony and CapitalOne but they've both accepted me back. I'm on Chase's blacklist. The benefit of settling is the balance is down to zero and I don't have to wait 7 years for the balance to drop. Some companies keep the debt in-house and do not do Pay for Delete (from what I've read).

I still have derogatory marks (lates and charge offs) that I will have to wait 7 years to drop, but it's impact on my credit score seems to lessen over time. Hope this helps!

Re: Car Crash CRASHED my credit. Need good secured credit cards.

RobertS2 — Tue, 10 Feb 2026 22:49:16 GMT

OpenSky Plus is good if you're nervous about getting approved. There's no credit check. Discover/Cap 1/US Bank secured cards have the best rewards.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Wed, 11 Feb 2026 01:46:14 GMT

I appreciate you offering advice to this rebuild. I'm curious does Navy Federal, BoA & US Bank all offer the opportunity for graduation after 6 months to one year?

Re: Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Wed, 11 Feb 2026 01:55:16 GMT

Thanks for taking the time to respond. I agree getting a $300 secured card would help with the goal of fixing my credit situation. But the option of getting a low limit secured credit card would force me to constantly monitor my weekly use . The hassle alone of avoiding going over a certain percentage usage would almost control the spending habits. A higher limit card would alleviate some of those concerns.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Wed, 11 Feb 2026 02:07:09 GMT

To be open and honest, I wasn't functioning at high enough level 😔 😔 to handle any of my responsibilities. My focus was recovery and getting back on my feet. Money stopped coming in and Bill's went unpaid. I experienced write-offs. Hence the reason why I need to use the option of secured credit cards. I'm definitely not complaining. I am VERY grateful. Just have to start the rebuild. And there's going to be a substantial financial settlement because the accident was totally the other side's fault. And it should happen very soon.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Wed, 11 Feb 2026 02:07:57 GMT

Thank you.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Wed, 11 Feb 2026 02:13:24 GMT

Thank you for your help.

Can you think of any secured credit cards that graduate and have high limit options in the $10k to $25k range? I know that's a bit high but it would solve multiple goals. It seems credit unions are more recommended by members on this website.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Wed, 11 Feb 2026 02:22:11 GMT

I'm so thankful for the secured credit card option. It essentially gets me closer to my rebuilding goals, but a bit quicker. I originally was going to attain a $5k secured credit card and a $10k secured credit card. But instead I think going after at least one card with a higher limit would give me more flexibility. Something with a $15 to $25k would work. But I'm not sure what financial institutions would graduate such a higher limit card. Someone mentioned NIH credit union. But the person wasn't sure they offered graduation.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Wed, 11 Feb 2026 02:29:31 GMT

Thank you for your thoughtfulness. You and others on this website are amazing people who take the time to share important knowledge. It's much appreciated 👍 👍. I will check several of those suggestions. Any ideas about a high limit secured credit card in the $25k range, and that offer the opportunity for graduation? Thanks.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

BestTennisPlayerSinceBorg — Wed, 11 Feb 2026 02:37:07 GMT

Thanks Robert. I very much appreciate you offering advice.

Part of my job responsibilities require out of state which means hiring rental vehicles during every trip. Interestingly enough most rental car agencies will accept secured credit cards. But for some reason they more often than not won't accept the Opensky card. Apparently they've had some previous issues with that company. That's the only thing I can figure based on their feedback.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

Kforce — Thu, 12 Feb 2026 18:22:13 GMT

@BestTennisPlayerSinceBorg wrote:

Any ideas about a high limit secured credit card in the $25k range,
and that offer the opportunity for graduation? Thanks.

Don't know why, however most places with secured card's have low limits.

$5,000 is on the upper side of the curve.

BofA and Wells Fargo at one time had 10k, don't know current limits, might check with each.

Would be nice if someone found a 20k with no geo lock, even if it did not graduate.

I believe a compromise of maybe two 5k cards with rewards to cancel the interest loss,

or a separate checking (fast funding) with debit card and then get an additional secured 5k card.

Many also get away with having a limit and just paying it down and cycling.

A little work but if the limit can cover the single charge for a week.

Most secured cards don't get closed for cycling if income supports the spend.

Might look bad if you are putting more than double the line each month, but going over every other month should fly.

I know each of my daughters got away with ~(1.5x-2.0x spend) for years.

Re: Car Crash CRASHED my credit. Need good secured credit cards.

Snow-Leopard — Thu, 19 Feb 2026 04:14:35 GMT

@Kforce wrote:
@BestTennisPlayerSinceBorg wrote:

Any ideas about a high limit secured credit card in the $25k range,
and that offer the opportunity for graduation? Thanks.

Don't know why, however most places with secured card's have low limits.
$5,000 is on the upper side of the curve.
BofA and Wells Fargo at one time had 10k, don't know current limits, might check with each.
Would be nice if someone found a 20k with no geo lock, even if it did not graduate.

American Heritage in Pennsylvania offers a secured card with a maximum $25K CL. $35 AF, 15.90% APR, $300 minimum SL. The card can graduate, too. The CU has two unsecured cards, one at 9.99% fixed and one that can (during the holidays) pays 3% cash back on everything.

You can also look at Patelco in California ($300-$10K), First Tech in California ($500-$25K), and Affinity in New Jersey ($250-???). No AFs, and Affinity does not run a HP for secured cards and loans. Affinity also pays ~3% on secured card deposits.

None of the listed credit unions are geo-fenced.