The Master Secured Credit Cards Thread

[Guest michelle624]

Thank you so much for this!!!

[pennypoor]

This is a great list!

 

I want to add that " AMERICAN AIRLINES FEDERAL CREDIT UNION " will not loan you anything for three years from date of discharge. That's what i was told from the amon carter branch and the HDQ1 as well. That was after me and my wife inquired separately.

 

I will be looking into these though.

[patz2009]

Bump to the top, since I've been seeing an increased demand for this thread.

Also, to extrapolate on what Ron said, the US Bank Harley-Davidson card actually looks pretty great for a secured card, if you're in the US Bank service area. Definitely a PIF kind of card though, with that huge APR. Low deposit, no AF, and rewards (even if they are a bit oddball).

 

U.S. Bank Harley-Davidson Secured Visa

AF: $0
Limits: $300 - $5,000
Minimum Deposit: $300
APR: 22.9%
Pulls: Varies
BK Friendly: No.
CLI: ?
Graduates: Yes, after 12 months good history.
Reports to 3 Bureaus: Yes
Benefits: Rewards, graduates, low deposit, no AF, no credit union hoops to jump through

[Ron1]

Bump to the top, since I've been seeing an increased demand for this thread.

 

Also, to extrapolate on what Ron said, the US Bank Harley-Davidson card actually looks pretty great for a secured card, if you're in the US Bank service area. Definitely a PIF kind of card though, with that huge APR. Low deposit, no AF, and rewards (even if they are a bit oddball).

 

U.S. Bank Harley-Davidson Secured Visa

AF: $0

Limits: $300 - $5,000

Minimum Deposit: $300

APR: 22.9%

Pulls: Varies

BK Friendly: No.

CLI: ?

Graduates: Yes, after 12 months good history.

Reports to 3 Bureaus: Yes

Benefits: Rewards, graduates, low deposit, no AF, no credit union hoops to jump through

No, it is open to all 50 states. Pulls: EXP. If declined, you can call to recon.

 

You can add additional deposit.

 

Ron.

[patz2009]

Bump. Adding another one, since I was doing some secured card research for a friend.

 

 

Andrews FCU Secured Visa

AF: $0

Limits: $500-$10000

Minimum Deposit: $500

APR: 14.5%

Pulls: Experian

BK Friendly: Yes(?)

CLI: Yes

Graduates: No

Reports to 3 Bureaus: Yes

Benefits: Easy to qualify for membership, higher-than-average 0.40% APY (at time of writing) on deposit

[LONESTAR2014]

FYI I was recently approved for the U.S. Bank regular secured Visa in Texas. This was not possible a couple of years ago, so people who were unable to apply in the past due to area restrictions may want to look into it again.

[LONESTAR2014]

I actually have a question. Someone mentioned they were able to earn rewards on a BofA secured card before it graduated. Does anyone know something about this? They mentioned getting the 1,2,3 cash rewards...

[msriss601]

I'm new here and this is so promising since I have my creditors meeting this Wednesday. I'm addicted to watching this forum and improving my credit after reading all this.

 

Anyone know how long it usually takes to discharge after the 341?

[LONESTAR2014]

LOL I answered my own question by calling BofA.

 

That secured card can be PC'd to 1/2/3 Cash Rewards, Power Rewards, or Travel Rewards (non-siggy versions). I had mine changed to the cashback version and am waiting for the card to come in the mail.

 

Also, Wells Fargo added cash back to my secured card during the first month. It's just 1% redeemable in $25 increments, but it is better than nothing!

 

Randolph Brooks Federal Credit Union down here in Texas offers a secured cad that graduates in 9-12 months. They pull TU. Not sure about the rates or BK-friendliness.

[Rebuilding2010]

I pc'd my secure to BofA Accelerated Cash rewards a fewyears ago

[buyrightfirst]

FYI - Wells Fargo Secure Card actually reports on your credit file as SECURED CREDIT CARD

 

Not sure of the difference it really makes other than the fact that any manual review will see that a bank didn't just take a chance on you BUT that secured it. Still reports to all 3 of course.

 

Argent CU (DuPont Fibers Credit Union) - Secured Card does not report as Secured Credit Card and also has a $300 min. deposit and will turn into regular in 6 months.

 

Anyone have knowledge of others that DO/DO NOT list as SECURED on your CBR?

Edited May 5, 2013 by buyrightfirst

[Kles]

LOL I answered my own question by calling BofA.

 

That secured card can be PC'd to 1/2/3 Cash Rewards, Power Rewards, or Travel Rewards (non-siggy versions). I had mine changed to the cashback version and am waiting for the card to come in the mail.

 

Also, Wells Fargo added cash back to my secured card during the first month. It's just 1% redeemable in $25 increments, but it is better than nothing!

 

Randolph Brooks Federal Credit Union down here in Texas offers a secured cad that graduates in 9-12 months. They pull TU. Not sure about the rates or BK-friendliness.

What does "PC'd' mean? & does require a HP? I've had my card for 2 years- never been late - never carried a balance. I requested the card be made unsecured & I was denied. In that same phone call I asked Dan the card be changed & was told no. So I asked for an increase. They pulled my TU report TWICE in the same week! Been fighting 5 months to get the 2nd HP removed!

[LONESTAR2014]

@Cakkie: I asked them to do a product change. They did not upgrade my card from being secured. They simply added me to the cash rewards program and sent me a new card. I did not lose any history. I did not get a hard pull for this, as I requested the day after the card was approved. However, YMMV.

[Guest]

I have not seen PSECU anywhere in this thread, and all I saw in state-specific was PFCU............

[BobWang]

[BobWang]

Thank you peeps for your kind 'words' and help. If I didn't find CB and everyone here, I never would have knew about the secured card option, what to look for, what could be fixed, how to clear up errors, remove CA's, what reports to check, how B*, how to D* and everything down to xyz and the list goes on lol! What I'm trying to say is I learned so much and ty ty

 

@Lonestar2014 The earliest score I have is EX 621 and that was a month after having the BofA. At the time I had no credit cards, one new car purchased early 2010, my reports were a mess with inaccuracy, duplicates and a few small collections which fell off on their own this year except for one.

Other than that, no CC apps for over 10 years.

 

I was rejected for the first two CC's I applied, but had already joined here and that's how I learned of 'secured' cards. I was able to apply and get two secureds, BofA my first and US Bank both started out at $500 because I didn't read that far to know I should have added more. Today for whatever reason, I decided to hit the luv button - this is the 7th month I've had it. I guess I felt I could be more patient with these cards because I now had Chase and Discover. The guy basically asked me the same question you did, He says, 'I see you like to pay it all off and the following month you leave a little balance and repeat, can I ask you what your methodolgy is in your payments?' I said 'yes, credit card companies are in it to make money from the merchant and interest. The relationship should be mutually beneficial so I'm willing to pay you a little interest.the guy was really nice and gave me a little education.

 

BofA graduated card to unsecured

[Guest]

Does ELFCU have one?

PSECU?

[Guest]

[patz2009]

There are a couple posts claiming that PSECU has a secured card, upon request. They state no credit check, but they're also a few years old. Guess the best way to find out will be to give them a call.

[hrguy]

It should also be important to note:

 

Not all secured cards are available to rebuilders aside from the fact that some issuers have their own quirks about minimum scores...etc.

 

Some issuers (usually CU's) only offer them to those who have no credit history, which is why some of them are so hidden to public eyes.

 

They recommend and approve them on case-by-case basis, and why some people get denied for some of them upon application - because they are specifically targeting people new to credit.

Edited May 27, 2013 by hrguy

[Guest]

[Kles]

Hey! How do you do the screen shot?

[hrguy]

May is the key word you should pay attention to: "may be reviewed"

[BobWang]

^

[robert217]

Does the Usaa secured Amex allow membership for CreditSecure? Will it allow backdating other Amex products that may be received in the future?