@Red1Blue wrote:I would look at Affinity Federal Credit Union, NJ. Their secured card has no AF, low interest rate and no credit check. Very easy to join and apply for the secured card.
This is definitely among the best.
Also check local CU's.
FNBO has a good one as well.
I had NFCU, Discover and then Apple FCU The first two graduated. I tried to get into Affinity as that was my first choice after NFCU but couldn't get in. They could not identify me.
@Horseshoez wrote:
@Brian_Earl_Spilner wrote:Discover is pretty much the best as it's basically a secured version of the regular card. In addition, you can add more money at a later time if you need the spending power, which can't be said of many secured cards. Drawback is they have to approve you for a larger secured limit.
Also, your situation doesn't sound pathetic. Medical debt is the leading cause of bankruptcy and many people, such as myself, have had to rebuild after a lengthy or expensive medical issue.
I don't know if I'd go so far as to say the Discover secured card is "pretty much the best", it has a lower max limit than many other cards, and takes at least 8 months before being elligible for graduate graduation. Is it one of the best? Definitely.
It literally graduates into the same card unsecured which can be grown to a respectable limit. Not many other secured cards do that. There's no need to close once you've moved past rebuilding or having to deal with trying to product change out of something you got graduated into. That's on top of earning the same rewards as the unsecured version. Again, not many other cards do that. While some people may need more than a $2800 limit, most people will only put in $2-500 so that's not a very strong argument against it. It's pretty much the best card that anyone can get and you don't have to open a bank or credit union account to get one.
@Brian_Earl_Spilner wrote:
@Horseshoez wrote:
@Brian_Earl_Spilner wrote:Discover is pretty much the best as it's basically a secured version of the regular card. In addition, you can add more money at a later time if you need the spending power, which can't be said of many secured cards. Drawback is they have to approve you for a larger secured limit.
Also, your situation doesn't sound pathetic. Medical debt is the leading cause of bankruptcy and many people, such as myself, have had to rebuild after a lengthy or expensive medical issue.
I don't know if I'd go so far as to say the Discover secured card is "pretty much the best", it has a lower max limit than many other cards, and takes at least 8 months before being elligible for graduate graduation. Is it one of the best? Definitely.
It literally graduates into the same card unsecured which can be grown to a respectable limit. Not many other secured cards do that. There's no need to close once you've moved past rebuilding or having to deal with trying to product change out of something you got graduated into. That's on top of earning the same rewards as the unsecured version. Again, not many other cards do that. While some people may need more than a $2800 limit, most people will only put in $2-500 so that's not a very strong argument against it. It's pretty much the best card that anyone can get and you don't have to open a bank or credit union account to get one.
Hmmm, yes, for some folks the secured Discover card may well be a very good option, but for others, a poor second place to a higher limit secured card. Not only did mind graduate after only 6 months, still with the $5,000 limit, but it graduated to a Signature class Visa, that plus it offers rather better rewards than the Discover card. In my case at least, I'm way ahead by choosing the TDCash card over the Discover card.
Greetings virgo ~ I would strongly recommend Discover as they were the first to extend credit to me and my daughter during our credit rebuild. In addition, your situation doesn't sound and in not pathetic as my daughter (then in her 30s) incurred massive medical bills -and- in an effort to come to her rescue (as parents do), I found myself in debt . . . but oh there's always sunshine after the storm passes and now I'm starting to shine again. So hang in there, it will come . . . start slow with Discover and watch things grow.
You can also contact TU who will likely grant an Early Exclusion (EE) 6 months prior to the purge date . . . EX will also likely grant an EE 3 months prior to the purge date . . . Do not contact Equifax as they have been my only headache.
@Horseshoez wrote:
@Brian_Earl_Spilner wrote:
@Horseshoez wrote:
@Brian_Earl_Spilner wrote:Discover is pretty much the best as it's basically a secured version of the regular card. In addition, you can add more money at a later time if you need the spending power, which can't be said of many secured cards. Drawback is they have to approve you for a larger secured limit.
Also, your situation doesn't sound pathetic. Medical debt is the leading cause of bankruptcy and many people, such as myself, have had to rebuild after a lengthy or expensive medical issue.
I don't know if I'd go so far as to say the Discover secured card is "pretty much the best", it has a lower max limit than many other cards, and takes at least 8 months before being elligible for graduate graduation. Is it one of the best? Definitely.
It literally graduates into the same card unsecured which can be grown to a respectable limit. Not many other secured cards do that. There's no need to close once you've moved past rebuilding or having to deal with trying to product change out of something you got graduated into. That's on top of earning the same rewards as the unsecured version. Again, not many other cards do that. While some people may need more than a $2800 limit, most people will only put in $2-500 so that's not a very strong argument against it. It's pretty much the best card that anyone can get and you don't have to open a bank or credit union account to get one.
Hmmm, yes, for some folks the secured Discover card may well be a very good option, but for others, a poor second place to a higher limit secured card. Not only did mind graduate after only 6 months, still with the $5,000 limit, but it graduated to a Signature class Visa, that plus it offers rather better rewards than the Discover card. In my case at least, I'm way ahead by choosing the TDCash card over the Discover card.
Yes, but not everyone has $5k to put towards a secured card. Nor does everyone *need* a $5k limit. For some, the $2.5k max is more than enough.
