Secured Credit Card help

[tommysofly]

Hello all,

I have bad credit right now and all of my old cc is in collection agency and it will fall off within the next 3 years, im trying to rebuild my  credit, i had some people advising me to get a secured credit card. I was wondering anyone in this forums had any experience with any secured credit card.

here are a list of cards i researched.

BOA secured

New Millennium Bank secured

Orchard banks Secured

WellsFargo Secured

First Premier

Public Secured

i want to get a card that  can report to the 3 credit bureau, can be upgraded to a unsecured credit card eventually.

can you guys please give me some advice or recommendation.

[Anonymous]

I like these, but not everyone qualifies

Wells Fargo

US Bank

BofA

Citi

I have and like  (easier to qualify)

HSBC (same as Orchard)

Public Savings Bank

I would never consider (very bad terms)

First Premier

New Millenium

[haulingthescoreup]

I would also check out any local credit unions in your area. Ask them specifically if they have a secured card, and if it will convert to unsecured eventually, keeping the opening date and history. If so, ask them what triggers the conversion to unsecured.

This post might do better over on Credit Cards. There are a lot of regulars over there with plenty of info about rebuilders.

If you'd like the thread moved, just reply back here, and a moderator can move it for you.

Good luck!

[Kimberly68]

I did not have credit cards in collection, but did  have 4 collections due to health issues and unemploymen.  I used the Applied Bank card.  I placed 200 on the card, each time I used it I paid in full prior to the due date to eliminate any fees.  The best way to rebuild credit and gain points are will be to only use what you can afford to pay in full.  In addition, I have been told to keep a small balance on the card and also, pay in full.  I have tried both, my score rosed quickly.  So whatever card you choose to get, make sure you use it wisely.

[Anonymous]

My advice - stay away from First Premier!  I had them years ago and it was a real nightmare.

HSBC/Orchard Bank - I've had both and both were great.   Easy to pay online, good customer service, more reasonable rates and terms, etc.

[Anonymous]

you're local banks and credit unions. associate bank and orchard soo far. getting another card in 3 weeks from summit credit union

[Anonymous]

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@Anonymous wrote:

My advice - stay away from First Premier!  I had them years ago and it was a real nightmare.

HSBC/Orchard Bank - I've had both and both were great.   Easy to pay online, good customer service, more reasonable rates and terms, etc.

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+1 Especially stay away from First Premier!

[tommysofly]

thanks for the reply and advice, can you plz move this post to the credit card forum

[haulingthescoreup]

Done!

[Anonymous]

https://addisonavenue.com/visa/