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Best Bank/Credit Union for secured loans. With no credit whatsoever. 2021.


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My account is considered invisible/thin..Equifax think I dead smh. But I’m looking to build my credit using the 3 loan maneuver. Any help in which Bank/ Credit Union I should consider would be greatly appreciated.

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I've never heard of the "3 loan maneuver." 

 

Have you tried a cold app for an unsecured Capital One card?

 

To maximize the long-term value of any secured cards you open, target those cards that graduate to unsecured.  I believe Bank of America and State Department FCU offer these types of secured cards.

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Have you spoken with a loan officer at the bank where you currently do business?  If not, why not. 

 

For what is described, there is precisely zero reasons to look outside of the local area.  Even a small local bank can do a CD-secured loan which is essentially the same thing as a CU and their share-secured products.  In both cases, they have $500 or $1K of your money and will usually lend against that for a few points more, which puts you into a sub-5% short-term loan. 

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