I would rather have a Merrick Bank secured card than a Credit One card! Merrick, while some complain about them, was very good to me! I never really had any issues which weren't easily overcome. The biggest issue I had with them was the fee at the end. The account would still be open if they had removed the AF. Credit One has high interest rates and huge fees. In the end it would still be better for you to simply plunk down $500 and get a secured card! It might be a bit tough for some to do in the first place, but in the long term it becomes a much better option!
I think the biggest excuse which many might use is that they don't have the $500 to do so. Once you get the card, you then can use it. Bite the bullet, get the card, use the card, then watch your score change based on how well you use the card and the balance of the card. This might become a motivator for paying off the card and keeping a low balance. Keep the long term goal in mind. My long term goal is to buy a house. I won't need a mortgage for years to come, since I might actually buy a house in the next month with cash, but later I will want a better one. (Yeah it won't be the biggest best house, but it will be mine! Later it will allow me the opportunity to buy a bigger better house!)
It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
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