Secured Card

[Anonymous]

Hi,

ive been reading about secured credit cards, it's the only way I'm going to rebuild my. Refit becsuse I've burned too many bridges. 

they keep suggesting Discover, but I've burned them too, along with C1. 

does anyone else have a favorite? My bank doesn't offer it 

thank you 

[ntx]

Hi @Anonymous and welcome!

If you qualify for membership, Navy Federal Credit Union has their nRewards card. 

Also State Department Federal Credit Union has a secured card. 

Both offer rewards and no annual fee, and I believe both can "graduate" to unsecured at some point. 

Good luck with your search!

NTX

[Anonymous]

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@ntx wrote:

Hi @Anonymous and welcome!

If you qualify for membership, Navy Federal Credit Union has their nRewards card. 

Also State Department Federal Credit Union has a secured card. 

Both offer rewards and no annual fee, and I believe both can "graduate" to unsecured at some point. 

Good luck with your search!

NTX

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Thank you

I just got an account with NFCU. I'm going to apply soon! 

[ntx]

That's awesome - they've been life-changing for me and I suspect for a lot of people here as well. 

[jmcmillan]

Another vote for SDFCU.. instant approval for me! No annual fee, and it graduates!

[Anonymous]

Hello, when did you all apply for the SDFCU card after discharge? Right away or did you wait a few months?

[jmcmillan]

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@Anonymous wrote:

Hello, when did you all apply for the SDFCU card after discharge? Right away or did you wait a few months?

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I applied a couple weeks after discharge. 

[Anonymous]

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@jmcmillan wrote:

Another vote for SDFCU.. instant approval for me! No annual fee, and it graduates!

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I have been trying to rebuild after a bk last Jan. I just tried sdfcu for their secured and they said no. I was able to get a credit one unsecured though! I've been surprised at how many times I've been turned down for secured cards. You would think the whole point in them would be for people with bad credit. I'm up to a 650 ish score now. My credit one is about to be a year old so I was thinking of getting rid of it before the AF but I can't find a good alternative. Does anyone have any suggestions?

Discover and Captial One both said no to secured cards, as did a few credit unions. I just want to find a card with no AF to keep. Ideally secured that graduates or unsecured.

[jmcmillan]

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@Anonymous wrote:

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I just tried sdfcu for their secured and they said no.

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Can you provide some more details about the denial? There's no credit check on their secured card. I dischared on 12/24, and I just got two secured cards from SDFCU.

Did you apply for membership first? Are you a member of the American Consumer Council? Membership requires a hard pull, and if they aren't able to verify your identity, they won't open an account.

I haven't had a lot of luck, either, despite many other people getting approvals shortly after discharge. That's why I settled on two secured cards from SDFCU and one from OpenSky.

[Anonymous]

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@jmcmillan wrote:

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@Anonymous wrote:

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I just tried sdfcu for their secured and they said no.

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Can you provide some more details about the denial? There's no credit check on their secured card. I dischared on 12/24, and I just got two secured cards from SDFCU.

Did you apply for membership first? Are you a member of the American Consumer Council? Membership requires a hard pull, and if they aren't able to verify your identity, they won't open an account.

I haven't had a lot of luck, either, despite many other people getting approvals shortly after discharge. That's why I settled on two secured cards from SDFCU and one from OpenSky.

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I put that I would join ACC, I haven't received a reason letter, online app status check just says "declined". I did get a hard pull to my credit