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Secured Credit Card

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Cotton_Britches
Frequent Contributor

Re: Secured Credit Card

Here's an updated forum list of recommended secured cards. Check it out:

http://ficoforums.myfico.com/t5/Credit-Cards/Updated-for-2015-Secured-Credit-Card-List/td-p/3856240
“Faith is taking the first step even when you don’t see the whole staircase.”
Message 11 of 13
Anonymous
Not applicable

Re: Secured Credit Card

I have an open sky CC and it is awesome. It is helping my score alot. No ridiculous fees, I PIF every month and they report regularly. I am about to receive a Citi bank secured card as well but I don't think citi likes baddies very much. I don't have bad credit just a thin file. But I would seriously recommend open sky. Never HP'd me and approval was easy. Capital one hates me for some reason. Denied several times for a secured card with a 696 EQ 701 EXP 689 TU no baddies just a thin file. I don't understand why they approve people that have screwed them over before but won't help people trying to start off right, so i'm not a big capital one fan right now, but that might change later.

Message 12 of 13
Anonymous
Not applicable

Re: Secured Credit Card

State Department Federal Credit Union offers one of the best secured cards around. There is no credit check and you can get two trade lines for one deposit if you use the initial deposit to start a share secured loan, then take the money borrowed back and put it towards the security deposit for the card. Of course, be prepared to make the monthly payments for the loan out of pocket for at least the first few months(after that, you can pay it off out of the balance that freed up by the previous payments).

 

You don't have to do the loan part either if you're worried about her making those payments, just go for the card. Pay 5 bucks for a year membership to the American Consumer Council and you can qualify for membership in SDFCU. There are few secured cards available that are better, look into it. SDFCU.org.

Message 13 of 13
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