State Credit Union SCSCU Secured Credit Card

[increasingmyfico]

For people in South Carolina this is a secured credit card option. When I initially looked into it I was not able to find out any information about the card so I am posting this for others who may want information on it. Basic info on the card can be found here:https://www.scscu.com/loans-credit/credit-cards

You do have to be a member of the credit union to get the card. Once you apply it is a hard pull on Equifax. You will send in funds and your account will be opened in the amount of your deposit. I was able to have them take the funds from my savings account directly so I didn't have to mail it in. 

The card will show on your bureau as secured. 

To increase your credit limit you will incur another hard pull.

The card does not graduate. You have to apply for an unsecured account. 

I hope this helps. 

[Adkins]

Thank you for sharing your data points with the forum! You never know when they can help someone else. 

[Guyatthebeach]

I got this card after my bankruptcy almost 7 years ago and still bank with them today.  For a secured card, it’s a basic no frills card, but if you use it wisely, it can be a gateway to some excellent products.  I was approved for an unsecured card 6 months after getting the secured card. At SCSCU, the credit union loan officers actually review and process all the applications. They are bk friendly and rebuild friendly. They will pull Equifax and/or TransUnion, from my experience. All credit decisions are made locally. This is something unheard in most credit unions and banks. Also if you have a perfect credit payment and credit history with them, they will give you their lowest rate, 8.9%.  Other nice features are no BT fees, and several reduced APR promotions throughout the year. 

SCSCU may not be as big and fancy as the big credit unions, like Navy Federal and PenFed, but they can beat them on loan and credit card rates.  When you call them, you actually speak to someone in South Carolina, not a foreign call center.  I have never had an issue or complaint with them at all in the years I’ve banked with them.

Guyatthebeach