The Master Secured Credit Cards Thread

[pwd847]

How do I start a poll?

[JayB27]

I think it is just like any other new topic.

 

On the right is the option to manage poll?

 

Don't quote me though, never started one. Give it a shot.

[BobWang]

You can always start a new poll,

 

if there's something majorly wrong with the first one.

 

We learn a lot here

 

through trial and error.

[JayB27]

Yes sir.

 

Good idea Bob.

 

[BobWang]

Grooming for BISK status

 

includes a LOT of abuse

[JayB27]

Good thing I am prepared.

 

[pwd847]

Much credit given to fellow CB member Hitch for helping me continue this list.....



Here is the sort of BIG list of Secured Credit Card's.



Capital One Secured Card
AF: $29
Limits: $200-$3000
Minimum Deposit (depending on credit): $49, $99, or $200
APR: 22.9%
Pulls: EX, EQ and TU (Most can get away with freezing EX and letting them pull TU and EQ only)
BK Friendly: Yes
Additonal Deposits: Yes - Free
CLI: Yes I started with a $3000 deposit and they upped me to $3,300. That is the highest I've seen.
Graduates: No
Reports to 3 Bureaus: Yes
Reports as: Unsecured
Comments: Free subscription to CreditTracker. 80 days to fund deposit. No foreign transaction fee.

Open Sky Secured Card
AF: $29
Limits: $200-$3000
Minimum Deposit: $200
APR: 14.99%
Pulls: No Credit Check
BK Friendly: Yes
Additional Deposits: Yes - free for 1st year, after that $25 CLI/CLD
CLI: No
Graduates: No
Reports to 3 Bureaus: Yes
Reports as: Unsecured
Comments: No Credit Check I think they lowered their AF. I remember this card being garage but now if you don't touch the credit limit it seems pretty reasonable if your credit sux. They used to charge interest from the time the purcahse was made now ther is a 25 day grace period.

NFCU nRewards Secured Card
AF: $0
Limits: $500-$50,000
Minimum Deposit: $500
APR: 8.9-17.9%
Pulls: EQ
BK Friendly: Yes
Additional Deposits: Yes
CLI: No
Graduates: Yes
Reports to 3 Bureaus: Yes
Reports as: Unsecured
Comments: Reward Points (1 point/$1). limited member eligibility

Citi Secured Card
AF: $29
Limits: ???-$5,000
Minimum Deposit: ???
APR: 18.24%
Pulls: EX
BK Friendly: Yes after 2 years (I think)
Additional Deposits: Yes (I think)
CLI: No
Graduates: Yes 12-18 months???
Reports to 3 Bureaus: Yes
Reports as: Secured
Comments: Can only apply in a branch. Deposit is put in an 18-month CD.



BankAmericard Secured Card/1-2-3 Rewards Card
AF: $39
Limits: $300-$4900 online/phone $300-$10,000 in branch
Minimum Deposit: $300
APR: 20.24%
Pulls: EX (Can freeze EX and ask for EQ or TU pull)
BK Friendly: No
Additional Deposits: Yes - for a HP
CLI: I heard that they used to have partially secured cards which would point to a yes but this was in the past.
Graduates: Yes 12 months as soon as 5 months, probably with request and HP
Reports to 3 Bureaus: Yes
Reports as: Secured
Comments: Can be converted to 1-2-3 rewards secured card. Will report midcycle with a large purchase. BEWARE



Wells Fargo Secured Card
AF: $25
Limits: $300-$10000
Minimum Deposit: $300
APR: 18.99%
Pulls: EX
BK Friendly: after 1 year (seems odd with how picky they are)
Additional Deposits: Yes with HP (I think)CLI: No
Graduates: Yes
Reports to 3 Bureaus: Yes
Reports as: Secured
Comments: Can be picky. Having banking relationship can help. Will report midcycle with a large purchase. BEWARE



DCU Platinum Secured Card
AF: $0
Limits: $500-$100,000 (Max depends on your credit)
Minimum Deposit: $500
APR: 11.50%
Pulls: EQ
BK Friendly: Yes
Additional Deposits: Yes (I think)
CLI: No
Graduates: No
Reports to 3 Bureaus: Yes
Reports as: Secured
Comments: 1 point/$1. Will report midcycle with a large purchase. BEWARE



U.S. Bank Secured Card
AF: $35
Limits: $300-$5000
Minimum Deposit: $300
APR: 20.99%
Pulls: EX
BK Friendly: Yes
Additional Deposit: ???
CLI: ???
Graduates: Yes, after 12 months of active usage
Reports to 3 Bureaus: Yes
Reports as: Secured
Benefits: Earn interest on deposit.



State Department Federal Credit Union Secured Card
AF: None
Limits: $250-$10,000
APR: 6.99%
Pulls: Soft on EX for membership. No pull for Sec CC.
BK Friendly: Yes
Additional Deposit: Yes
CLI: Yes
Graduates: No
Reports to: All three credit bureaus
Reports as: Secured
Comments: EMV. No foreign exchange and cash advance fees. Platinum benefits. 1 point/dollar.



Discover IT
AF: $0
Limits: $200-$2500
Minimum Deposit: $200
APR: 22.9%
Pulls: EQ
BK Friendly: Yes
Additional Deposit: No
CLI: No
Graduates: Yes, after 12 mos.
Reports to 3 Bureaus: Yes
Reports as: Unsecured
Benifits: Free TU FICO, rotating 5% categories, 1% on everything else.

Aero Mexico Secured Rewards Card (U.S. Bank)
AF: $0 for first 12 months then $25
Limits: $300 - $ ???
Minimum Deposit: $300
APR: 16.24%
Pulls: EX
BK Friendly: Yes
Additional Deposit: ???
CLI: No
Graduates: Yes ???
Reports to 3 Bureaus: Yes
Reports as: Secured
Benifits: 1 mile/dollar, 5000 miles when you make 1st purchase.

Harley Davidson Secured Rewards Card (U.S. Bank)
AF: $0
Limits: $300 - $ ???
Minimum Deposit: $300
APR: 22.99%
Pulls: EX
BK Friendly: Yes
Additional Deposit: ???
CLI: No
Graduates: Yes ???
Reports to 3 Bureaus: Yes
Reports as: Secured
Benifits: 1 H-D point/dollar

Union Bank Secured Card
AF: $19
Limits: $300 - $5000
Minimum Deposit: $300
APR: 17.99%
Pulls: ???
BK Friendly: Yes
Additional Deposit: ???
CLI: No
Graduates: Yes
Reports to 3 Bureaus: Yes
Reports as: Secured
Comments: Cheap AF for being a graduating card.

Sun Trust Secured Card
AF: $29 - $39
Limits: $300 - Approved Credit Limit (Based on HP)
Minimum Deposit: $300
APR: 17.99% - 19.99%
Pulls: ???
BK Friendly: Yes
Additional Deposit: ???
CLI: No
Graduates: An upgrade to an unsecured card isn’t automatic, but you can make the request after you’ve used the secured card responsibly. No time frame was given, but expect at least a year.
Reports to 3 Bureaus: Yes
Reports as: Secured
Comments: $29 AF is just regular card. $39 AF is rewards card - 2% back on gas/groceries first $6000 annually/calander year.

First National Bank Secured Card
AF: $19
Limits: $300 - $5000
Minimum Deposit: $300
APR: 17.99%
Pulls: ???
BK Friendly: Yes
Additional Deposit: ???
CLI: No
Graduates: Yes 15 months
Reports to 3 Bureaus: Yes
Reports as: ???
Comments:Deposit earns interest. Free FICO 8 Bankcard score.

First Progress Platinum Elite Secured Card
AF:$29
Limits:$300-$2000
Minimum Deposit: $300
APR:19.99%
Pulls:???
BK Friendly:Yes
Additional Deposit: ???
CLI: No
Graduates:No
Reports to 3 Burueaus:Yes
Reports as: Unsecured
No credit requirements, not available in AR, IA, NY, or WI


USAA Secured 3 options (Visa, Mastercard, American Express)
AF:$35
Limits:$250-$50000
Minimum Deposit: $250
APR:9.9%-19.90%
Pulls:EQ
BK Friendly:Yes
Additional Deposit: ???
CLI: No (I think)
Graduates:No (I think)
Reports to 3 Burueaus:Yes
Repoorts as: Unsecured
Deposit is placed into interest earning CD


MunicipalCredit Union - No Credit Check Secured Card.
Caters to and located in New York City, NY

I don't have much info on this. Does anyone use this card?



First Choice Bank Primor Visa:

On their web page it seems like a really nice low interest card.

Read the fees and interest rate section.

STAY AWAY!!!







Call your local credit union ask some questions maybe they have something to offer too!!!



Don't be concerned with the CC reporting as secured or not. That really doesn't matter. I know someone who got a $10,000 SDFCU secured card(reports as secured) and was able to up their Barclay's card to match the limit (With a manual review).

 

 

A writeup about cards reporting as secured. ----> http://www.beverlyharzog.com/fico-score-and-secured-credit-cards/

 

 

This is more of a complete list. The next step will be to rank the cards. Also the idea of making a secured card flowchart is a great idea too. Any cards I should add to the list???

 

 

?!?!?!?!?Please help me out where I have question marks!?!?!?!?

Edited February 10, 2015 by pwd847

[tweak]

Thanks, pwd.

 

Has anybody actually reported an FNBO card graduating?

 

The card looks very interesting, but I've never actually seen a post from someone who had personal experience.

 

 

Based on what FNBO says on their website, some have suggested here that they may just offer you a new unsecured card after 15 months -- and not transfer the history and account age.

Opportunity to move to a deposit free card in as little as 15 months when you maintain a good payment history with us.

 

First National Bank Secured Card

AF: $29 - $39
Limits: $300 - $5000
Minimum Deposit: $300
APR: 17.99%
Pulls: ???
BK Friendly: Yes
Additional Deposit: ???
CLI: No
Graduates: Yes 15 months
Reports to 3 Bureaus: Yes
Reports as: ???
Comments:Deposit earns interest. Free FICO 8 Bankcard score.

Edited February 10, 2015 by tweak691

[pwd847]

Some of this info is just stuff that I have searched from recent sources. I will be calling a few of these companies to see if they actually transfer the history and all that.

[JayB27]

You did a killer job.

 

Period.

[cv91915]

Good thing I am prepared.

 

The guy in the corner gave her an awful wedgie. I wouldn't be smiling at all.

[mendelssohn]

Thanks for your work on this, pwd!

[pwd847]

 

Good thing I am prepared.

The guy in the corner gave her an awful wedgie. I wouldn't be smiling at all.

I like those thunder thighs.

[pwd847]

So I got this app on my chromebook that makes flowchart's. I need some suggestions. How would we start this off?

 

I already have some ideas in mind that I am toying with but I'm interested in other peoples opinoins.

[ruafraidofme]

don't forget the speedway secured card

 

https://www.firstbankcard.com/common/dynamicapp/personalbanker/speedway/secured/index.html

[pwd847]

Oh yeah I forgot about that. What a piece of garbage. Unless of course you ONLY buy gas at speedway.

[dvd]

 

Add Citibank Secured Mastercard-graduates in 18 months-BK OK after 2 years

BBVA Compass Optimizer-Graduates after 12 months

 

Would anyone happen to know how stringent Citibank is with issuing their secured's? Just in the beginning process of rebuilding my credit with only one line just opened - a First Progress. My Ficos are shockingly low but I've been a Citibank member for 16 years and receive preferred service from them. Wondering if that would give me a good shot or if my mid 500 ficos would blast me out the door!

 

I've been told by branch employees that Citibank has recently eased their approval criteria for the secured card. Having a banking relationship helps out a lot.

[dvd]

This is a great list! Thanks @Hitch and @pwd847!

 

Some additional information:

 

Citibank:

• It states in their application that your BK must be at least 2 years between discharge and applying. I have heard from branch personnel that they have eased those requirements.
• I dont know if you will be automatically declined if you have burned them in the past.
• Minimum deposit is $200.
• You cannot make additional deposits.
• Will review for graduation after 18 months. Graduation based on overall credit and payment history. If you graduate, they will just convert the card.
• I have heard conflicting information about product change after the card becomes unsecured.

 

Union Bank/FirstBankCard/First National Bank:

• Must be clear of FNBK charge offs on credit report
• Additional deposits to increase credit line accepted
• Will review for graduation after 15 month. Graduation based on payment history and overall credit.

 

US Bank/Elan Card Services:

• They changed their approval criteria, as this product was designed for establising credit, not rebuilding. Approval criteria based on debt to income ratio.
• BK must be discharged.
• No previous losses from US Bank or affliliates, ie Elan Card Services.
• You can request graduation after a year, however underwriting guidlines will be similar to applying for an unsecured product. BKs must be 4 years old.
• You can increase deposits after 3 months, requires a hard pull.

 

Bank of America:

• Read in other posts that BKs must be at least 3 years old
• Additional deposits require HP

Edited February 16, 2015 by dvd

[rugerguy49548]

I burned bofa 7+ years ago pretty sure they charged off think I have a chance?

[tweak]

I burned bofa 7+ years ago pretty sure they charged off think I have a chance?

 

Master Blacklist Thread

 

Some people have gotten back in with BOA after 7 years.

 

You could try, and let us know.

[rugerguy49548]

 

I burned bofa 7+ years ago pretty sure they charged off think I have a chance?

 

Master Blacklist Thread

 

Some people have gotten back in with BOA after 7 years.

 

You could try, and let us know.

 

If I apply online for the regular will it possibly offer me secured or do I need to go into branch?

[pwd847]

 

 

I burned bofa 7+ years ago pretty sure they charged off think I have a chance?

 

Master Blacklist Thread

 

Some people have gotten back in with BOA after 7 years.

 

You could try, and let us know.

 

If I apply online for the regular will it possibly offer me secured or do I need to go into branch?

 

As far as I know only discover lets you app for one and shoots you the other way for the secured with the same app.

 

BofA will not do that.

[JeffeVerde]

 

If I apply online for the regular will it possibly offer me secured or do I need to go into branch?

 

 

As far as I know only discover lets you app for one and shoots you the other way for the secured with the same app.

 

BofA will not do that.

 

 

I *think* NFCU will direct you to a secured card if you don't pass muster for an unsecured. I haven't seen it personally, but that's what I've been told.

[rugerguy49548]

 

 

 

I burned bofa 7+ years ago pretty sure they charged off think I have a chance?

 

Master Blacklist Thread

 

Some people have gotten back in with BOA after 7 years.

 

You could try, and let us know.

 

If I apply online for the regular will it possibly offer me secured or do I need to go into branch?

 

As far as I know only discover lets you app for one and shoots you the other way for the secured with the same app.

 

BofA will not do that.

 

Good to know I am debating apping. I have a mid to low 6 score on all 3, 2 secured cards and a Naavy unsecured. Would it make more sense to bump up my limit on the 2 secureds or app for the bofa one. for information sake the cards are navy fed nrewards secured 500 cl, Farmers Insurance group secured $650 (weirdly reports as a secured loan not a card) and a Navy flagship visa 6k limit.

[tweak]

Good to know I am debating apping. I have a mid to low 6 score on all 3, 2 secured cards and a Naavy unsecured. Would it make more sense to bump up my limit on the 2 secureds or app for the bofa one. for information sake the cards are navy fed nrewards secured 500 cl, Farmers Insurance group secured $650 (weirdly reports as a secured loan not a card) and a Navy flagship visa 6k limit.

 

It sounds like you can get approved for some good unsecured cards now.

 

I don't see why you need another secured card at this point.

 

 

If you want specific advice for your personal situation,

you might want to start your own thread.

 

I'm sure people will be happy to help!

Edited February 17, 2015 by tweak691