USAA secured credit card =-)

lovemybabiesx2 · ‎08-14-2011

Hubby and I are repairing and rebuilding our credit. It was suggest by our lender that we each needed revolving credit...well with a crappy score the only option we had was a secured card! He got a Cap1, but I got denied....crap...checked with USAA and I had to apply for their regular card, HOWEVER, upon being denied, they offered a secured card...the advantages is that it's secured with a Certificate of Deposit account, which means it earns interest...yeah!!! Downfall...no chance of unsecuring at a later date! Another downfall, CD has to stay in for 2yrs...but on their website it said you could make additional deposits...have to call and make sure tomorrow though...at least its a start!

Equifax: 470 ( Lender 7/11) 548 (USAA-7/10/13

Experian: 493 (Lender 7/11) ) 588-USAA 7/10/13

TU: starting- 461 (Lender 7/11), 553-USAA 7/10/13- 647 (Walmart 7/15/13)
Vantage Score: 678
GOAL: FICO 650-690 by 12/2013

-Cain- · ‎08-14-2011

The secured card with USAA is a good choice. I believe I've read that while you can add money to the CD, it will not increase your CL, so if that's the case, make sure you set your initial deposit to what you want your CL to be. Good Luck.

Anonymous · ‎08-14-2011

USAA is a solid deal, secured or unsecured.

Your secured deposit is going to be earning interest, you can set your credit line at whatever you want/can afford, and you'll be building a positive history with a lender who you won't have regrets about later.

Giver yourself a pat on the back... I think you're getting a better deal that DH.