Baxter Credit Union (BCU) Launch Secured Credit Card

[Rex727]

Hey Guys,

In doing all this research to fix my credit, I revived my account at Baxter Credit Union (BCU) as they seem like a great credit union and a lot of my friends use it. They offer a free checking account, let you access your direct deposit two days early after it is setup, and they offer - what appears to be - a pretty awesome secured card. It is called their Launch Card and is secured by a minimum of $150 in your savings account and can be increased at anytime in incriments of $100 by depositting more money in your savings account. I spoke with a rep today and he said that you usually graduate to a full, unsecured card in about 6 months. It also seems to be one of the only ones that allows you to add more to your limit at anytime.

Has anyone had any experience with this card? I'm going to get one when I get paid next week, probably start with only $200 with a goal to up it by $200 a month or $100 per pay period, until I have a nice limit.

I will follow-up this thread with my experience with applying, securing, etc the Launch Card but also wanted to reach out and see if anyone else has used this card.

This forum has proved to be an invaluable resource to me in getting back on the right track so hopefully this thread will assist people moving forward in finding a good secured card.

Thx,

Rex

[polno1234]

---

@Rex727 wrote:

Hey Guys,

In doing all this research to fix my credit, I revived my account at Baxter Credit Union (BCU) as they seem like a great credit union and a lot of my friends use it. They offer a free checking account, let you access your direct deposit two days early after it is setup, and they offer - what appears to be - a pretty awesome secured card. It is called their Launch Card and is secured by a minimum of $150 in your savings account and can be increased at anytime in incriments of $100 by depositting more money in your savings account. I spoke with a rep today and he said that you usually graduate to a full, unsecured card in about 6 months. It also seems to be one of the only ones that allows you to add more to your limit at anytime. i question this statement. most secured cards allow you to add more to deposit at any time.

Has anyone had any experience with this card? I'm going to get one when I get paid next week, probably start with only $200 with a goal to up it by $200 a month or $100 per pay period, until I have a nice limit.

I will follow-up this thread with my experience with applying, securing, etc the Launch Card but also wanted to reach out and see if anyone else has used this card.

This forum has proved to be an invaluable resource to me in getting back on the right track so hopefully this thread will assist people moving forward in finding a good secured card.

Thx,

Rex

---

[Rex727]

It seems ones at big banks cannot be added to, I know for a fact US Bank cannot be and WF would not give me a definite answer.

At any rate, it seems like a pretty solid well rounded secured card and I couldn't find any info on here so I thought I'd post about it.

Updates in two weeks when it gets here

-Rex

[polno1234]

it isn't fact but i just read on three different sites that you can add more to your us bank secured card. doesn't seem like you can do it every month or twice a month like you want to but doesn't say no either. also it states from the us bank website secured card terms "all current and after-acquired funds". under the security agreement at the bottom. so again i question that statement.

bcu card looks fine though