Best Secured Card to start with?

[motivatedmommy]

I am just starting my repair journey and will share my story later today when I have full time. I have the money to go and stash $400 in a secured card. Which one is the best to get FIRST as I have ZERO of anything positive reporting to my credit report. I tried to search but got a lot of crazy returns so I wanted to ask. I do have my story to share later and my timeline of what I have read on what I need to do to start my repair including getting paper reports. I just wanted to ask this one question first while I had time.

[Second Chances]

Have you read this thread?

 

https://creditboards.com/forums/index.php?showtopic=500689&page=1

 

It's hard to advise you on a specific card without knowing more about your current situation. You said you have nothing positive reporting, but do you have anything negative reporting?

 

Ideally, you would want a secured card that will graduate to unsecured. A card that allows you to deposit additional amounts without a fee is also good, since you can then treat it like another savings account, whose funds you can access when your card unsecures.

 

Welcome to CB!

[tweak]

Have you read this thread?

 

https://creditboards.com/forums/index.php?showtopic=500689&page=1

 

It's hard to advise you on a specific card without knowing more about your current situation. You said you have nothing positive reporting, but do you have anything negative reporting?

 

Ideally, you would want a secured card that will graduate to unsecured. A card that allows you to deposit additional amounts without a fee is also good, since you can then treat it like another savings account, whose funds you can access when your card unsecures.

 

Welcome to CB!

 

+1

 

In addition to The Master Secured Credit Cards Thread (linked above),

check out this thread:

What are your guy's 3 favorite secured cards and why?

[motivatedmommy]

Thank you both - I do have things reporting negatively due to a bad domestic violence situation that I finally got out of with a Sociopath that had to "control" everything so I found you guys through research. I do want a card that I can ADD more money into it and grow to start my credit. I wish I had more time to post more of my story but right now I am slammed at work. Thanks for the links!

[AnnMichele]

Instead of weeding through the whole thread look at this post. It has the most updated information on secured cards.

 

If you don't have any anything reporting your best chance might be Capital One but they will pull all three CRs for it. Anyway just take a look at the post and see the cards that are offered and decide which one may work best for you.

 

Hope it helps! Keep us updated

[crankbait]

^{I would go to your local credit Union first, Next either BOA or US Bank. I secured with BOA, US BANK, Cap 1 and USAA. The only two that upgrade are BOA and US Bank. Cap1 did CLI without me asking for it twice. Others were whatever your deposit is.}

[RussInGotham]

^{I would go to your local credit Union first, Next either BOA or US Bank. I secured with BOA, US BANK, Cap 1 and USAA. The only two that upgrade are BOA and US Bank. Cap1 did CLI without me asking for it twice. Others were whatever your deposit is.}

 

Discover graduates to unsecure, so that's an excellent option for a secured card.

[jonson]

If you are not approved for one of the cards that graduate, the Capital One secured is excellent and has easy approval. Also easy to add money to the deposit. Best of all, it no longer has an annual fee.