Which Secured card to get? Disc out of question.

[Lennybg]

Going to put $1500-$2000 on a secured card. I'm looking at either the BOA,USBank or Citi cards. Discover isn't an option. I want a card that will graduate sooner than later.

Thanks

[GZG]

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@Lennybg wrote:

Going to put $1500-$2000 on a secured card. I'm looking at either the BOA,USBank or Citi cards. Discover isn't an option. I want a card that will graduate sooner than later.

Thanks

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Navy Federal if you're eligible 

I wish I would have tried getting a USBank secured card, but was afraid of the denial 

as for the three you listed, US Bank and BoA are well above Citi for their secured cards

[Kforce]

As with all credit questions, it comes down to personal opinion.

1) US-Bank

2) City

3) BOA

[Jeffster1]

In preference order based on my personal experience with BofA secured and TD secured, as well as reports on here about USbank and Citi.

1. BofA - Mine graduated in 7 months. 

2. TDBank - Mine graduated in 7 months. (TD is OK but not on the level of BofA.)

3. USBank - Only graduates after one year. If not, it's reviewed again the following year.

4. Citibank - Reports on here of cards not graduating for years, if ever.

My experience wirh BofA and TD secured is fairly recent. Both opened 3/21 and both graduated 11/21.

[Kforce]

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@Jeffster1 wrote:

In preference order based on my personal experience with BofA secured and TD secured, as well as reports on here about USbank and Citi.

1. BofA - Mine graduated in 7 months. 

2. TDBank - Mine graduated in 7 months. (TD is OK but not on the level of BofA.)

3. USBank - Only graduates after one year. If not, it's reviewed again the following year.

4. Citibank - Reports on here of cards not graduating for years, if ever.

My experience with BofA and TD secured is fairly recent. Both opened 3/21 and both graduated 11/21.

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^^^^ This

I would agree with @Jeffster1 if speed of graduating is most importance

I usually look at quality of cards that one can later PC too, long term rewards, etc.

Ignore my post if graduation speed is the target

[M_Smart007]

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@Lennybg wrote:

Going to put $1500-$2000 on a secured card. I'm looking at either the BOA,USBank or Citi cards. Discover isn't an option. I want a card that will graduate sooner than later.

Thanks

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I would lean toward BOA

[TheRedHat]

None of the above. Get a secured card from Affinity Federal Credit Union. Getting the card is a soft pull. Use the card until you can apply for an unsecured card that you desire. It graduates when you decide to close it. 

[Horseshoez]

From my perspective, a lot depends upon how good your local branches are; in my case the local BofA branch sucked, the TD branch was absolutely wonderful.

[crrredit]

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@TheRedHat wrote:

None of the above. Get a secured card from Affinity Federal Credit Union. Getting the card is a soft pull. Use the card until you can apply for an unsecured card that you desire. It graduates when you decide to close it. 

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A couple more good things about Affinity FCU secured card. The security deposit is held in a savings account along with any other money you want to put in it. Their "smart start" savings is paying 4% on the first $10,000. If you want a bigger CL than you started with, just call them and tell them you want to use more of your savings to increase your limit. No HP. They actually promote this flexibility on their site. They'll send you documents to e-sign and then they'll book it. Happens pretty quickly. Also, they don't report it as a secured card to the bureaus. 

The APR is currently 15.35%, which is higher than you want to finance something with but much lower than other cards at 29% or more. Last fall they gave me a 0% on purchases and transfers offer that's good until June of this year.