Best Secured Credit Cards in 2014?

[st789]

thanks baller4life. I will check it out tomorrow. 

Are there any other secured cards that get good reviews from the members of this forum?

[yudeology101]

Although it's not that popular, US Bank Korean Air Skypass Secured is a good one to have.  One of old friend got this card a few years ago, he said he really liked it.

https://www.usbank.com/credit-cards/skypass-visa-secured-credit-card.html

Review:

http://www.nerdwallet.com/card-details/card-name/US-Bank-SKYPASS-Secured-Visa

Also, found this top 5 secured credit card review, in case you haven't read it elsewhere (dated Feb. 24, 2014 so fairly new):

http://www.wisebread.com/the-5-best-secured-credit-cards

Best wishes!

[Jeff007245]

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@st789 wrote:

thanks baller4life. I will check it out tomorrow. 

Are there any other secured cards that get good reviews from the members of this forum?

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Recommended Starter Cards

1. Bank of America Secured

2. Wells Fargo Secured

3. US Bank Secured

4. Citi Bank Secured

4. Discover IT > Student > Secured

6. Capital One Secured

7. CU Secured

8. Store Cards ( Whichever Pleases The Individual)

Rebuilders

1. Merrick Bank

2. First Progress

Not Recommended

1. Credit One Bank

2. First Premier Bank

[JoshuaHolySpirit]

@baller4life wrote:
Bank of America. It graduates and they return your deposit. Many have been graduated as soon as 6 to 9 months.

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That's it.

Try applying Bank of America-!! Keep checking your bank account for a week or so, even if you get the 60 second denial.

You can still be approved after that.(money taken from acct to fund the sec deposit)....

[fairytale]

Bank of America offers a nice one that seems to unsecure easily (and get rewards on). My next choice would be SDFCU since they have a very low APR, no HP, and no annual fee (but doesn't unsecure). TD Bank has one too but you can only apply within a branch. It takes twice as long as BOA to unsecure but it will eventually.

Have you tried applying for the Discover IT card? I originally applied expecting to be declined and was surprised at an approval. Also was approved for Chase Freedom after 2 recon calls... and this is coming from someone that has no credit score & no credit history. Cap1 didn't even give me a chance, instant denial (and they're supposed to be the easiest of the secured cards to be approved for).

[JLK93]

The best secured cards, that graduate to unsecured and offer rewards, are mostly for building credit as opposed to rebuilding credit. If you can qualify for any of these top tier cards then by all means sign up.

If you can't qualify for the best secured cards, my favorites for rebuilding credit are SDFCU, Capital One and Open Sky. I've been happy with all three of them.

If you can't qualify for the top tier of secured cards, but you still want a secured card that graduates to unsecured your best bet is a local credit union.

[st789]

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@oilcan12 wrote:

The best secured cards, that graduate to unsecured and offer rewards, are mostly for building credit as opposed to rebuilding credit. If you can qualify for any of these top tier cards then by all means sign up.

If you can't qualify for the best secured cards, my favorites for rebuilding credit are SDFCU, Capital One and Open Sky. I've been happy with all three of them.

If you can't qualify for the top tier of secured cards, but you still want a secured card that graduates to unsecured your best bet is a local credit union.

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I truly do not believe I will qualify for any unsecured cards right now. 

As for the premier secured cards, it would be a gamble. Do any of them do the app process with only a SOFT inquiry? I'm concerned about adding any HARD inquiries right now. 

[-Wade-]

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@st789 wrote:

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@oilcan12 wrote:

The best secured cards, that graduate to unsecured and offer rewards, are mostly for building credit as opposed to rebuilding credit. If you can qualify for any of these top tier cards then by all means sign up.

If you can't qualify for the best secured cards, my favorites for rebuilding credit are SDFCU, Capital One and Open Sky. I've been happy with all three of them.

If you can't qualify for the top tier of secured cards, but you still want a secured card that graduates to unsecured your best bet is a local credit union.

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I truly do not believe I will qualify for any unsecured cards right now. 

As for the premier secured cards, it would be a gamble. Do any of them do the app process with only a SOFT inquiry? I'm concerned about adding any HARD inquiries right now. 

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I know SDFCU will do a SP when you  join. But I dont know about their SCC

[-Wade-]

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@Wade64 wrote:

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@st789 wrote:

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@oilcan12 wrote:

The best secured cards, that graduate to unsecured and offer rewards, are mostly for building credit as opposed to rebuilding credit. If you can qualify for any of these top tier cards then by all means sign up.

If you can't qualify for the best secured cards, my favorites for rebuilding credit are SDFCU, Capital One and Open Sky. I've been happy with all three of them.

If you can't qualify for the top tier of secured cards, but you still want a secured card that graduates to unsecured your best bet is a local credit union.

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I truly do not believe I will qualify for any unsecured cards right now. 

As for the premier secured cards, it would be a gamble. Do any of them do the app process with only a SOFT inquiry? I'm concerned about adding any HARD inquiries right now. 

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I know SDFCU will do a SP when you  join. But I dont know about their SCC

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Also opensky will not even do a credit pull

[st789]

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@Wade64 wrote:

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@Wade64 wrote:

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@st789 wrote:

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@oilcan12 wrote:

The best secured cards, that graduate to unsecured and offer rewards, are mostly for building credit as opposed to rebuilding credit. If you can qualify for any of these top tier cards then by all means sign up.

If you can't qualify for the best secured cards, my favorites for rebuilding credit are SDFCU, Capital One and Open Sky. I've been happy with all three of them.

If you can't qualify for the top tier of secured cards, but you still want a secured card that graduates to unsecured your best bet is a local credit union.

---

I truly do not believe I will qualify for any unsecured cards right now. 

As for the premier secured cards, it would be a gamble. Do any of them do the app process with only a SOFT inquiry? I'm concerned about adding any HARD inquiries right now. 

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I know SDFCU will do a SP when you  join. But I dont know about their SCC

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Also opensky will not even do a credit pull

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Considering my scores are currently in the 570 range and I do not have a credit card, would you recommend I go with Sky option since they do not do a hard inquiry OR should I go ahead and take a chance with the BOFA  secured card since they are the bank I plan to have a longterm relationship with?