The Master Secured Credit Cards Thread

[rugerguy49548]

 

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.

 

I was denied a amazon recently so I figured I am still not ready. I have a few baddies I am working on with whychat methods...(medical debt from a kidney transplant)

[JeffeVerde]

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.

 

 

 

How long have you had the unsecured NFCU? If those are your only open TL's, let it report several months of on-time payments before app'ing your next card.

 

[rugerguy49548]

 

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.

 

 

 

How long have you had the unsecured NFCU? If those are your only open TL's, let it report several months of on-time payments before app'ing your next card.

 

 

7 months for secured and unsecured navy card. secured farmers 2 years

[pwd847]

Why specifically are you interested in BofA?

[rugerguy49548]

Why specifically are you interested in BofA?

No real reason just not sure what to app for next and I figure I eventually should get a card with a major bank too. Diversify maybe

[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
Additional 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 Credit Tracker. 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 sucks. They used to charge interest from the time the purchase was made now there 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: $200-$5,000
Minimum Deposit: $200
APR: 18.24%
Pulls: EX
BK Friendly: Yes after 2 years
Additional Deposits: No
CLI: No
Graduates: Yes 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: Yes after 3 months HP required
CLI: ???
Graduates: Yes, 12 months
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
Benefits: 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: Yes after 3 months HP required
CLI: No
Graduates: Yes 12 months
Reports to 3 Bureaus: Yes
Reports as: Secured
Benefits: 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: Yes after 3 months HP required
CLI: No
Graduates: Yes 12 months
Reports to 3 Bureaus: Yes
Reports as: Secured
Benefits: 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: Yes
CLI: No
Graduates: Yes 15 months
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: Yes
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 Bureaus: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 Bureaus:Yes
Reports as: Unsecured
Deposit is placed into interest earning CD

 

 

Speedway Secured Card
AF: $30
Limits: $300-$5000
Minimum Deposit: $300
APR: 20.99%
Pulls: ???
BK Friendly: ???
Additional Deposit: Yes
CLI: No
Graduates: Yes as early as 11 months
Reports to 3 Bureaus:Yes
Reports as: ???
Comments: Earns Speedy Rewards points. Spend $500 in first 90 days get 25,000 points. Free monthly FICO Bankcard score.

 

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. (Actually it is not a good idea. Nevermind)

Any cards I should add to the list???

 

 

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

Edited February 18, 2015 by pwd847

[ruafraidofme]

why do you think its garbage? I mean isnt the free fico every month at least worth this while rebuilding?

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

[kimbachelle]

SavingStar Secured American Express (FNBO)

 

AF: $25

Limits: $300 - $5000

Minimum Deposit: $300

APR: 18.99%

Pulls: ????

BK Friendly: ???

Additional Deposit: Yes

CLI: no

Graduates: Yes, as early as 11 months

Reports to 3 Bureaus: Yes

Comments: 1% cash back everywhere, 5% - 10% on eligible SavingStar purchases. Also earns interest and comes with FNBO's free FICO.

Edited February 19, 2015 by kimbachelle

[pwd847]

why do you think its garbage? I mean isnt the free fico every month at least worth this while rebuilding?

 

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

 

actually after looking into the Speedway card a little more, I have changed my mind. Its not that bad. I had heard from some guy that the max deposit was $1000 and the max unsecured limit was $1000-$2000. Now I know that was a lie.

 

The free FICO is a Bankcard score and correct me if I'm wrong but I think a Bankcard score is worthless.

.

Edited February 19, 2015 by pwd847

[ruafraidofme]

 

why do you think its garbage? I mean isnt the free fico every month at least worth this while rebuilding?

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

actually after looking into the Speedway card a little more, I have changed my mind. Its not that bad. I had heard from some guy that the max deposit was $1000 and the max unsecured limit was $1000-$2000. Now I know that was a lie.

 

The free FICO is a Bankcard score and correct me if I'm wrong but I think a Bankcard score is worthless.

.

 

hmm maybe i'll call and ask when there open they say FICO 8 bankcard score.

[pwd847]

My buddy has about 30 CA's on all 3 reports. I will soon see what cards will accept horrid CR's. He just applied for the U.S. Bank secured card (against my advice).

 

He called me and said he was approved. I am in complete disbelief. This guy had the most CA's I have ever seen. I think he has a long time banking relationship with them. Edited February 23, 2015 by pwd847

[ruafraidofme]

Just some other secured cards I didn't see before

 

Swagbucks Secured (national)

 

http://www.swagbucks.com/p/secured-credit-card

 

For those of you in WI

 

Visa Pledge says it converts to unsecured at 12 months of on time payments

https://www.ecu.com/products#/tab/credit_cards/pledge

 

Chicago area don't know about other areas Amalgamated Bank of Chicago (Says Miles rewards)

https://www.aboc.com/pageaf2b.html?id=3355

[dvd]

From what Ive been hearing it seems that the secured card approval process from "prime" banks have loosened up recently but the approval from secured to unsecured have tighten up a bit.

[pwd847]

Amalgamated bank secured card has a $50 AF.............

[pwd847]

If you have a secured BofA CC please post here.

 

http://creditboards.com/forums/index.php?showtopic=541160&hl=

[Tyra]

^

[FOAD]

Just wanted to share with y'all that USBank sent me an email today.

 

Congratulations on your U.S. Bank Secured Visa Card anniversary!

 

 

Yay? Where the hell is my unsecured card?

 

FOAD, USBank, FOAD.

Edited March 10, 2015 by FOAD

[pwd847]

FOAD, USBank, FOAD.

I've been telling people this for years yet they still give US Bank their business.

[jonson]

 

FOAD, USBank, FOAD.

I've been telling people this for years yet they still give US Bank their business.

 

 

They denied me a secured card. I don't even waste my time with them anymore.

[dvd]

 

 

FOAD, USBank, FOAD.

I've been telling people this for years yet they still give US Bank their business.

They denied me a secured card. I don't even waste my time with them anymore.

 

What was the reason they gave you for their denied?

 

 

Sent from my iPad using Tapatalk HD

[jonson]

 

 

 

FOAD, USBank, FOAD.

I've been telling people this for years yet they still give US Bank their business.

They denied me a secured card. I don't even waste my time with them anymore.

 

What was the reason they gave you for their denied?

 

 

Sent from my iPad using Tapatalk HD

 

 

They listed a bunch of reasons (i.e. "too many inquiries," even though I only had a few, and delinquencies from 5 years ago). The major reason was just having too many student loans and not enough income. But yet, I can get unsecured credit from other creditors.

[JeffeVerde]

Update on NFCU graduation date. A while back I'd see some posts indicating that they graduate as early as 6 months.

 

I'm at 7 months, and was approved for an unsecured 10k card 3 months after the approved card (in retrospect, I probably would have qualified for an unsecured in the first place). I contacted the credit card department to ask about unsecuring, and was told there's no method to request it - it will just happen on the 13th month.

[pwd847]

Yes 100% true. I applied for the BankAmericard Cash rewards UNSECURED card. Rejected online a screen popped up saying we will give you a $500 secured card with a $90 or $100 deposit. I called for recon and they gave me the unsecured card for $1k. Super nice woman too... I have hated BOA for years but appreciate their actions and steps in our reunification as they used to be my main bank but screwed me years ago. Earlier this year they sent me a "sorry we screwed up" check. That story can be somewhat found in the Chex area...

This confirms that partially secured cards are possible at BofA.

 

NOTE: this person was denied for an unsecured card, and offered a partially secured card (with a predetermined limit). After a recon this person was able to STILL get an unsecured line!!

 

 

That still sounds like a crappy secured limit though. Ideally you would want $1000 at the very least.

[tweak]

 

Yes 100% true. I applied for the BankAmericard Cash rewards UNSECURED card. Rejected online a screen popped up saying we will give you a $500 secured card with a $90 or $100 deposit. I called for recon and they gave me the unsecured card for $1k. Super nice woman too... I have hated BOA for years but appreciate their actions and steps in our reunification as they used to be my main bank but screwed me years ago. Earlier this year they sent me a "sorry we screwed up" check. That story can be somewhat found in the Chex area...

This confirms that partially secured cards are possible at BofA.

 

NOTE: this person was denied for an unsecured card, and offered a partially secured card (with a predetermined limit). After a recon this person was able to STILL get an unsecured line!!

 

 

That still sounds like a crappy secured limit though. Ideally you would want $1000 at the very least.

 

 

Isn't this the BOA 99/500 card?

[pwd847]

 

 

Yes 100% true. I applied for the BankAmericard Cash rewards UNSECURED card. Rejected online a screen popped up saying we will give you a $500 secured card with a $90 or $100 deposit. I called for recon and they gave me the unsecured card for $1k. Super nice woman too... I have hated BOA for years but appreciate their actions and steps in our reunification as they used to be my main bank but screwed me years ago. Earlier this year they sent me a "sorry we screwed up" check. That story can be somewhat found in the Chex area...

This confirms that partially secured cards are possible at BofA.

 

NOTE: this person was denied for an unsecured card, and offered a partially secured card (with a predetermined limit). After a recon this person was able to STILL get an unsecured line!!

 

 

That still sounds like a crappy secured limit though. Ideally you would want $1000 at the very least.

 

 

Isn't this the BOA 99/500 card?

 

I dunno. What is that?

Edited March 18, 2015 by pwd847