Secured card… which one to app for?

[Anonymous]

No Hi all,

Trying to rebuild my credit. Currently have a cap1 and creditone (🤢). Looking to get a secured card and wondering which bank is best. Any insight? Thanks!

[SUPERSQUID]

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@Anonymous wrote:

No Hi all,

Trying to rebuild my credit. Currently have a cap1 and creditone (🤢). Looking to get a secured card and wondering which bank is best. Any insight? Thanks!

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Hi, more info would be needed to make recommendations. why are you rebuilding? bankruptcy7 or 13 and who was burned or charge offs and which lenders, plus how long ago were any bad marks.

do you have high income?

[Trini88]

Bank of America - They unsecured me after 5 months and you can request a cli every 3 months. Only issue is I wish I had known they had a Cash Rewards secured card. Stuck with Americard 

US Bank - I would 100% have done them had they came out with their secured card earlier this year. Those 5% categories .....Only issue is I wouldn't drop less than $3000 on their card.

[FishingGuy]

Definitely consider Discover, 

...................... they very often go unsecured.... and raise your limit around the six month mark, I'd consider them with the highest depsoit you can afford to make.

[Taurus22]

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@FishingGuy wrote:

Definitely consider Discover, 

...................... they very often go unsecured.... and raise your limit around the six month mark, I'd consider them with the highest depsoit you can afford to make.

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I second this......many secured cards become static (no rewards, etc) or bucketed sometimes after graduating, and some lenders make it difficult to PC to a more appealing card. Discover basically has one option to graduate to......and you can't go wrong with a 5% rotator with cashback match first year.

[calyx]

Discover would be my first suggestion.
USBank (since they now have Cash+ as a secured option) would be my second - I had the vanilla non-rewards secured card with them and I've been more than happy with them.

A local CU (or SDFCU/Navy) that has a card that graduates would be my third suggestion, as I'm a huge fan of having a solid CU relationship for other products (autoloans, mortgages, etc)