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USAA Secured Credit Card

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Is USAA a good secured credit card to go far? And are they available for non-military? I need another positive trade line reporting. What about Capital One secured? Do they report as secured? How are both of these companies in terms of graduating to unsecured?

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Search for the secured card master thread. Everything you'd ever want to know is already there.

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It's for full members only. Check out DCU. Does not report as secured and graduates.

Edited by mendelssohn

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The Capital one card does not report secured but it does not graduate either.

 

However, if you manage it well and have more negative than positive it is relatively easy to get approved for one of their unsecured cards like the rewards. (Not the Venture that takes EXCELLENT credit)

Edited by Clydesmom

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The Capital One secured card is great because it's easy to qualify for, and it reports timely (also reports as a normal card). My favorite part about the card is that the deposit towards the credit line can be increased at your convenience in $25 increments. So you can slowly build up the credit limit.

 

The disappointing factor about this card is its inability to grow with you. The card is advertised as "Road to Credit" and "earn credit line increases with good payment history." Well, those "increases" are just one small increase, and then your road comes to a dead end. I talked to the executive office about this and he agreed that it's a little misleading, but there was nothing they could do about it.

 

Seeing as you already have a Wells Fargo card, that's going to be your oldest tradline, and will probably graduate. So you wouldn't have to worry so much about closing out a Capital One card if you need to. My Capital One secured is my oldest active line, and with my older lines beginning to fall off this year, I'm not willing to close it, so I'll be paying their annual fee for a while and letting them keep my deposit.

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