topic Re: Cap 1 Secured? in Credit Cards

Cap 1 Secured?

Erika3o3 — Fri, 15 Mar 2013 23:46:10 GMT

Looking for reviews on this card. Is it a good starter card for rebuilding? Also if approved how long does it take to get the card in the mail?

Re: Cap 1 Secured?

Anonymous — Sat, 16 Mar 2013 00:21:02 GMT

@Erika3o3 wrote:
Looking for reviews on this card. Is it a good starter card for rebuilding? Also if approved how long does it take to get the card in the mail?

Of the major banks, I think it is a good choice. Not too hard to qualify. Reports to all CB as regular card (not secured). Very easy to add to the deposit and build it up over time. Might get an unsecured CLI at 6 months. Good history with it will help get a a decent card with them later.

It did well for me.

It may take 2 to 4 weeks before you get your card in the mail.

Re: Cap 1 Secured?

SamsungHDTV — Sat, 16 Mar 2013 00:38:57 GMT

@Anonymous wrote:
@Erika3o3 wrote:
Looking for reviews on this card. Is it a good starter card for rebuilding? Also if approved how long does it take to get the card in the mail?
Of the major banks, I think it is a good choice. Not too hard to qualify. Reports to all CB as regular card (not secured). Very easy to add to the deposit and build it up over time. Might get an unsecured CLI at 6 months. Good history with it will help get a a decent card with them later.
It did well for me.

It may take 2 to 4 weeks before you get your card in the mail.

Pros:

Easy to qualify (as most secured cards are)

Reports as regular card

Easy to add deposits

Free credit report and FAKO score (Probably best feature)

Cons:

Does not graduate (or atleast thats what they told me via chat)

$3000 maximum limit with deposits (other banks offer higher, only a CON if you plan to deposit more than this over time, I'm maxed.)

Overall:

$29 annual fee is not bad for secured card, it will serve its purpose. I wouldn't count on it graduating. As for me I don't need it to, I'm planning to close as soon as I get better cards.

Re: Cap 1 Secured?

Ravensfan2001 — Sat, 16 Mar 2013 05:08:01 GMT

@SamsungHDTV wrote:
@Anonymous wrote:
@Erika3o3 wrote:
Looking for reviews on this card. Is it a good starter card for rebuilding? Also if approved how long does it take to get the card in the mail?
Of the major banks, I think it is a good choice. Not too hard to qualify. Reports to all CB as regular card (not secured). Very easy to add to the deposit and build it up over time. Might get an unsecured CLI at 6 months. Good history with it will help get a a decent card with them later.
It did well for me.

It may take 2 to 4 weeks before you get your card in the mail.

Pros:
Easy to qualify (as most secured cards are)
Reports as regular card
Easy to add deposits
Free credit report and FAKO score (Probably best feature)

Cons:
Does not graduate (or atleast thats what they told me via chat)
$3000 maximum limit with deposits (other banks offer higher, only a CON if you plan to deposit more than this over time, I'm maxed.)

Overall:
$29 annual fee is not bad for secured card, it will serve its purpose. I wouldn't count on it graduating. As for me I don't need it to, I'm planning to close as soon as I get better cards.

Where do you find the free credit report and score?

Re: Cap 1 Secured?

Revelate — Sat, 16 Mar 2013 05:09:25 GMT

Second best secured card (BOFA, or NFCU as well if you have access being better) in my opinion with a slew of good features. Well worth it.

Re: Cap 1 Secured?

SamsungHDTV — Sat, 16 Mar 2013 05:10:21 GMT

mycreditinform.com is the actual website. You need to sign up through cap 1 though, so I'd suggest you contact them on how to sign up. I think there is a sign up package but i forgot