Hitch Posted September 26, 2012 Capital One Secured MC AF: $29 Limits: $200-$3000 Minimum Deposit (depending on credit): $49, $99, or $200 APR: 22.9% Pulls: EX, EQ and TU BK Friendly: Yes CLI: Yes Graduates: ??? Reports to 3 Bureaus: Yes Benefits: Free subscription to CreditInform, 80 days to fund deposit, no monthly maintenance fee DCU Platinum Secured Visa AF: $0 Limits: $500-$100,000 Minimum Deposit: $500 APR: 11.50% Pulls: EQ BK Friendly: Yes CLI: ??? Graduates: ??? Reports to 3 Bureaus: Yes Benifits: No AF or monthly fees, competitive interest rates Applied Bank Platinum Zero Secured Visa AF: $0, but $9.95 monthly maintenance Limits: $500-$5000 Minimum Deposit: $500 APR: 0% Pulls: EQ BK Friendly: Yes CLI: ??? Graduates: ??? Reports to 3 Bureaus: Yes Benefits: 0% interest First Progress Platinum Select MC AF: $39 Limits: $300-$2000 Minimum Deposit: $300 APR: 14.99% Pulls: EQ BK Friendly: Yes CLI: ??? Graduates: No Reports to 3 Bureaus: Yes Benefits: N/A Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 Open Sky Secured Visa AF: $50 (+$3 for paper statements Limits: $200-$3000 Minimum Deposit: $200 APR: 14.99% Pulls: No Credit Check BK Friendly: Yes CLI: ??? Graduates: No Reports to 3 Bureaus: Yes Benefits: No Credit Check Quote Share this post Link to post Share on other sites
BobWang Posted September 26, 2012 AWESOME first thread. Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 USAA Secured (Amex or Visa) AF: $35 Limits: $250-$5000 Minimum Deposit: $200 APR: 9.99% Pulls: EQ (or no pull) BK Friendly: Yes CLI: ??? Graduates: No Reports to 3 Bureaus: Yes Benefits: Free 6 months Credit Check Monitoring, possibly no pull NFCU nRewards Secured AF: $0 Limits: $500-??? Minimum Deposit: $500 APR: 8.9-17.9% Pulls: EQ BK Friendly: Yes CLI: ??? Graduates: Yes Reports to 3 Bureaus: Yes Benefits: Reward Points Quote Share this post Link to post Share on other sites
Repairerer Posted September 26, 2012 Go go go! Nice job on the thread Hitch! Quote Share this post Link to post Share on other sites
muffin14 Posted September 26, 2012 USAA Secured MasterCard AF: $35 Limits: $250-$5,000 Minimum Deposit: $250 APR: 9.9% Pulls: EQ (Was told they wouldn't, but shows on my FICO) BK Friendly: ??? CLI: Yes, with additional deposits into CD Graduates: No Reports to 3 Bureaus: Yes Benifits: Low interest, guaranteed/instant approval, benefits, deposit goes into 2-YR secured variable rate CD (currently 0.69%) Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 BankAmericard Secured Visa AF: $39 Limits: $300-$4900 Minimum Deposit: $300 APR: 20.24% Pulls: EX BK Friendly: No CLI: ??? Graduates: Yes Reports to 3 Bureaus: Yes Benefits: N/A Quote Share this post Link to post Share on other sites
muffin14 Posted September 26, 2012 USAA Secured MasterCard AF: $35 Limits: $250-$5,000 Minimum Deposit: $250 APR: 9.9% Pulls: EQ (Was told they wouldn't, but shows on my FICO) BK Friendly: ??? CLI: Yes, with additional deposits into CD Graduates: No Reports to 3 Bureaus: Yes Benifits: Low interest, guaranteed/instant approval, benefits, deposit goes into 2-YR secured variable rate CD (currently 0.69%) Not sure if we're supposed to add to the list, but that's what I've got for my USAA Secured MC Quote Share this post Link to post Share on other sites
BobWang Posted September 26, 2012 Mom & I are trying to come up with a title for Hitch. Suggestions are solicited. And no, Hitch, you don't get any input. It's like fighter pilot call signs. Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 Not sure if we're supposed to add to the list, but that's what I've got for my USAA Secured MC Feel free to add, I mistakenly listed (Amex or Visa) when it's supposed to be (Amex or MC). ... and thanks BW and Repairerer Quote Share this post Link to post Share on other sites
BobWang Posted September 26, 2012 USAA Secured MasterCard AF: $35 Limits: $250-$5,000 Minimum Deposit: $250 APR: 9.9% Pulls: EQ (Was told they wouldn't, but shows on my FICO) BK Friendly: ??? CLI: Yes, with additional deposits into CD Graduates: No Reports to 3 Bureaus: Yes Benifits: Low interest, guaranteed/instant approval, benefits, deposit goes into 2-YR secured variable rate CD (currently 0.69%) Not sure if we're supposed to add to the list, but that's what I've got for my USAA Secured MC YES, YES, YES, PLEASE add to the list. Hitch can figure out how to compile the contributions. Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 Mom & I are trying to come up with a title for Hitch. Suggestions are solicited. And no, Hitch, you don't get any input. It's like fighter pilot call signs. Quote Share this post Link to post Share on other sites
BobWang Posted September 26, 2012 Not sure if we're supposed to add to the list, but that's what I've got for my USAA Secured MC Feel free to add, I mistakenly listed (Amex or Visa) when it's supposed to be (Amex or MC). ... and thanks BW and Repairerer Oh, we'll make you sorry, yet. Quote Share this post Link to post Share on other sites
Repairerer Posted September 26, 2012 Secured Influence Securer of All Things Why Sell Out When You Can Buy In The Securening Quote Share this post Link to post Share on other sites
BobWang Posted September 26, 2012 Secured Influence Securer of All Things Why Sell Out When You Can Buy In The Securening Oh, I LIKE Secured Influence. Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 Wells Fargo Secured Visa AF: $25 Limits: $300-$10000 Minimum Deposit: $300 APR: 18.99% Pulls: EX BK Friendly: after 1 year CLI: Yes, with additional deposits Graduates: Yes (YMMV) Reports to 3 Bureaus: Yes Benifits: N/A Quote Share this post Link to post Share on other sites
Repairerer Posted September 26, 2012 Your title looks very nice. Quote Share this post Link to post Share on other sites
muffin14 Posted September 26, 2012 I think it'd also be nice to see if these cards report as secured or any other catches, like if you have to be a member or has a minimum income requirement (I know Well Fargo does, not sure if that's standard with the secured cards though) Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 I think it'd also be nice to see if these cards report as secured or any other catches, like if you have to be a member or has a minimum income requirement (I know Well Fargo does, not sure if that's standard with the secured cards though) Good idea. From what I've read, I think Capital One, DCU, and the BankAmericard do not report as secured. Someone else will have to chime in. Any secured card belonging to a credit union requires CU membership, the others vary. There are several CU's that offer secured cards, but their memberships are limited so I'm not sure if they are worth listing. Quote Share this post Link to post Share on other sites
Link2k Posted September 26, 2012 NFCU and Open Sky both allow CLI and neither reports as secured. Quote Share this post Link to post Share on other sites
lakpr Posted September 26, 2012 Hitch, Speaking from personal experience with DCU Secured Visa: it does graduate. My wife was young and had 0 credit history when we married. To establish credit history for her, I had her join DCU (I was already a member through my ex-employer), then opened a secured card with $2K deposit. For the next two years we used it heavily. Right on clock after 24 months passed, the entire $2K deposit was returned to us (we didn't ask), essentially we now have a $2K unsecured credit card. I am unsure whether the card would have unsecured had we asked for it earlier. We had NOT tried it, but we were told we could bump up the credit limit by simply adding funds to the security deposit. I am therefore not sure if their internal "2 year clock" date when the card unsecures, would be reset if you add funds at a later date. Unlike the banks, however, once the card does unsecure, there are no automatic CLIs. We were told, if we wanted to increase the credit limit, we would need to consent to a hard pull. My wife's scores are above 800 across all 3 bureaus now, she had much better cards (Sapphire Preferred @ 20K, BofA Cash Rewards @18K etc.) ... so we have just sockdrawered the card, putting on an occasional bagel purchase on the card once every 6 months or so. So, the DCU entry should read: DCU Platinum Secured Visa AF: $0 Limits: $500-$100,000 Minimum Deposit: $500 APR: 11.50% Pulls: EQ BK Friendly: Yes CLI: Requires additional deposits Graduates: Yes, after 24 months of active usage Reports to 3 Bureaus: Yes Benefits: No AF or monthly fees, competitive interest rates, SCORE Rewards (1 point for $1 spending, to be exchanged for crappy merchandise) Quote Share this post Link to post Share on other sites
BDK Posted September 26, 2012 Secured Influence Securer of All Things Why Sell Out When You Can Buy In The Securening Oh, I LIKE Secured Influence. Ha ha.. I found the back story! Congrats SI Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 U.S. Bank Secured Visa AF: $35 Limits: $300-$5000 Minimum Deposit: $300 APR: 20.99% Pulls: EX BK Friendly: Yes CLI: ??? Graduates: Yes, after 12 months of active usage Reports to 3 Bureaus: Yes Benefits: N/A Quote Share this post Link to post Share on other sites
Hitch Posted September 26, 2012 DCU Platinum Secured Visa AF: $0 Limits: $500-$100,000 Minimum Deposit: $500 APR: 11.50% Pulls: EQ BK Friendly: Yes CLI: Requires additional deposits Graduates: Yes, after 24 months of active usage Reports to 3 Bureaus: Yes Benefits: No AF or monthly fees, competitive interest rates, SCORE Rewards (1 point for $1 spending, to be exchanged for crappy merchandise) DCU seems to offer the best secured credit card. Congrats SI Thanks! Quote Share this post Link to post Share on other sites
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