cancel
Showing results for 
Search instead for 
Did you mean: 

Best Secured "Rebuild my credit" credit cards?

tag
Anonymous
Not applicable

Best Secured "Rebuild my credit" credit cards?

Any suggestions and links would be just great!
Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: Best Secured "Rebuild my credit" credit cards?

bank of america, a credit union, or citi. in that order.
Message 2 of 9
Anonymous
Not applicable

Re: Best Secured "Rebuild my credit" credit cards?

Hi GBC. What are your FICO scores like? Any baddies on it?

I've read posts by people being declined for even a secured card. Not to discourage you or anything.

First place I'd go would be to the BoA pre-approval site:

https://preapproved.bankofamerica.com/cc/SelfInquiry.aspx

Next try the pre-approval section on Cap1's site.
Message 3 of 9
haulingthescoreup
Moderator Emerita

Re: Best Secured "Rebuild my credit" credit cards?

BofA secured card and a local credit union.

Never be afraid to go to a credit union! They are much more welcoming than most commercial banks, and they're not afraid to work with people. Most credit unions have greatly broadened their membership qualifications, and in my area, they're competing big time for new members. To qualify where I live, you pretty much have to be an oxygen-breathing biped somewhere within an 8-county range.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 9
Anonymous
Not applicable

Re: Best Secured "Rebuild my credit" credit cards?

Currently: TU: 485 Experian: 506 Equifax: 508 Should I forego apps for even secured cards?
Message 5 of 9
Anonymous
Not applicable

Re: Best Secured "Rebuild my credit" credit cards?



GBC wrote:
Currently: TU: 485 Experian: 506 Equifax: 508 Should I forego apps for even secured cards?

BofA is iffy for the secured card with low 500s.  I've seen denials much higher than that.
 
When looking for a secured card, a prime consideration should be whether the card will grow with you, and eventually unsecure.  Unofortunately, the cards that grow with you are the ones that are more difficult to qualify for.
 
I'd imagine you could get an Orchard secured with those scores, but that's one that won't grow with you.
 
I'd second (third) the recommendation to try a local CU.
 
Message 6 of 9
haulingthescoreup
Moderator Emerita

Re: Best Secured "Rebuild my credit" credit cards?

GBC, are these your FICO scores? (pulled from this site.) Everything is fixable, but some things take longer than others.

You might need to ask for an appointment at the credit union and have some sit-down time. Ask them what it would take from you to show them that you would be credit-worthy. They might ask you to open a savings account and make regular deposits for a while before moving to a secured card.

Can I ask what tanked your scores so drastically?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 7 of 9
brendogg27
Contributor

Re: Best Secured "Rebuild my credit" credit cards?

If I were you, I'd visit www.scorematch.com and see what you qualify by that site.  I have an Orchard Bank Gold Mastercard that I used to rebuid my credit.  I applied in July, been using it since and most recently been approved for Cap 1 Plat, WAMU Plat, and Amex Skymiles Gold in one week.  I'm a HUGE fan of Orchard Bank. 
Message 8 of 9
CreditDrama85
Established Contributor

Re: Best Secured "Rebuild my credit" credit cards?

try the wells fargo secured card if you do not have a bankruptcy
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.