Secured Card

[dacv01]

@Anonymous  I have had great luck with my Citi secured card. 1k Line, and Rep last week said I qualify for early review for upgrade/ increase in 2 weeks when my 12 months hits ( instead of 18) 

[Anonymous]

My vote is for BECU.  I got a secured card with them for $500 and two years later applied for a CLI to unsecure it and got a SL of $7500.  

For what it's worth I've been with becu for nearly 15 years, but only with basic checking and savings, this is my first credit product with them.

[sjt]

Citibank - Generally unsecured within 18 months. Some graduate after 11 months. YMMV.

Bank of America - They start reviewing for unsecured after 7 months.

BECU - Unknown

State Dept Federal CU (SDFCU) - Will review for unsecured status after 12 months.

Discover - Will review after 7 months.

Also, look into credit unions both locally and nationally.

Always inquire about the approval criteria.

[Anonymous]

@Anonymous Based on the provided details, I don't really see the point of opening a secured card especially since you already have unsecured ccs with other lenders.

IMO I think you should garden and let all of your accounts age as most of them were opened this year, then you could just apply for an unsecured card at whichever lender you prefer. 

You also have an account with NFCU, it might be worth requesting a CLI (currently they are handing out UP TO $4000 CLIs). If any of their cards interest you, you could app and likely be approved.

Personally I would hold off applying till your youngest account hits 6 months. 

[Kforce]

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@Anonymous wrote:

@Anonymous Based on the provided details, I don't really see the point of opening a secured card especially since you already have unsecured ccs with other lenders.

IMO I think you should garden and let all of your accounts age as most of them were opened this year, then you could just apply for an unsecured card at whichever lender you prefer. 

You also have an account with NFCU, it might be worth requesting a CLI (currently they are handing out UP TO $4000 CLIs). If any of their cards interest you, you could app and likely be approved.

Personally I would hold off applying till your youngest account hits 6 months. 

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+100

Why waste a new account on a secured.?

Wait and get a card with better benefits in a year.

You have plenty for FICO and ageing

A secured just ties up money.

My answer:  Don't get a secured card

[designated_knitter]

I would avoid Citi... 

They seem to be sending out lots of letters at the 18 month mark saying they aren't going to return your security deposit and you have to wait another 12 months.

I just got my letter yesterday... have 1000 deposit with them and my scores have improved 80 points across the board since I got the card.  Not happy at all.

[Anonymous]

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@designated_knitter wrote:

I would avoid Citi... 

They seem to be sending out lots of letters at the 18 month mark saying they aren't going to return your security deposit and you have to wait another 12 months.

I just got my letter yesterday... have 1000 deposit with them and my scores have improved 80 points across the board since I got the card.  Not happy at all.

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Oh THAT is good to know about CITI because they are on my short list which I'm considering for next. With exactly what you're saying, I'm thinking by the time which I'm waiting between applications and doing some tidying up, my score will be better, my AAoA will also be better. I'm so bad about the waiting, but it's only a few more months from now. Thx. This helps. 🙏🏻