Check out this new secured card..

[loops77]

Kickstarter from FNBO

 

http://www.yourbankcard.com/securecard/creditkarma.html

 

Deposit range: $300 to $5000

Annual Fee: $29

Graduates: CLI after six months without additional deposit. Get unesecured card after 9 months.

Free Experian Bankcard score each month

 

Seems like one of the better cards out there now.

[policebox]

I agree, that looks pretty good indeed.

[almostanonymous]

I wonder if their secured card is as INQ sensitive as the others.

[credithunting]

And as soon as 9 months later, you could be eligible to apply for an unsecured card from First National Bank — and get your deposit back! ...looks good but the way this is worded i don't think it graduates you must apply to unsure.

[moosetracks]

Interesting...

[mendelssohn]

From the wording they use, I don't think it unsecures.

[H4LO]

And as soon as 9 months later, you could be eligible to apply for an unsecured card from First National Bank — and get your deposit back! ...looks good but the way this is worded i don't think it graduates you must apply to unsure.

 

 

Will I get my deposit money back?

I know the funds are used to secure the repayment of my card, but for how long exactly?

Upon being approved for an unsecured card — possibly, in as little as 15 months from opening your Kickstart Secured Card — you will receive a refund of your secured deposit.

 

Where did you get 9 months?

[mendelssohn]

 

 

And as soon as 9 months later, you could be eligible to apply for an unsecured card from First National Bank and get your deposit back! ...looks good but the way this is worded i don't think it graduates you must apply to unsure.

 

Will I get my deposit money back?

I know the funds are used to secure the repayment of my card, but for how long exactly?

Upon being approved for an unsecured card possibly, in as little as 15 months from opening your Kickstart Secured Card you will receive a refund of your secured deposit.

Where did you get 9 months?

The link says 9 months to potentially be eligible for an unsecured card. They may lock the money in a CD or savings for a minimum of 15 months.

[RBinAK]

How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)".

 

Also a minimum finance charge of $1.75. $29 annual fee so if you use the card the minimum cost per year us $50 1.75*12+29.

 

Just go to your local CU and get a no annual fee card that graduates. Most have them if you do direct deposit.

Edited April 9, 2014 by RBinAK

[VirusCredit13]

Also a minimum finance charge of $1.75. $29 annual fee so if you use the card the minimum cost per year us $50 1.75*12+29.

 

I don't see a "finance charge" in the terms, only a minimum if interest is applied. So that 1.75 would only happen if you carry a balance over to next statement and they charge interest.

[doctorofcredit]

Kind of weird that they have credit karma in the URL, wonder why they do that.

[doctorofcredit]

Hard or soft for adding funds? Does it graduate or not?

 

If it's soft and it actually graduates, it's a decent secured card. Otherwise it's useless.

[Occam]

Might this get you a free monthly EX FICO 08 like the ExtraEarnings Visa?

 

Worth looking into if you can't get the ExtraEarnings Visa or get into PSECU... if it works the monthly EX FICO is probably worth the AF.

 

Disclaimer: I have no idea whether it will work (it probably won't). It's just a suggestion for research.

[socalfiremedic]

I like the free FICO score. Assuming they'd pull EX on the app?

[JunkBuyersWorstNightmare]

It doesn't say anything about graduating. It simply says you'll "be able to apply for an unsecured card in as little as nine months."

[credithunting]

Might this get you a free monthly EX FICO 08 like the ExtraEarnings Visa?

 

Worth looking into if you can't get the ExtraEarnings Visa or get into PSECU... if it works the monthly EX FICO is probably worth the AF.

 

Disclaimer: I have no idea whether it will work (it probably won't). It's just a suggestion for research.

i will call CSR in the morning for additional info and report back here

[Remo]

Is my FICO® Score really free?

And why should I care about my FICO® Credit Score?

There is no charge for receiving your FICO® 8 Bankcard Score. This is a free service to help you gain insight into your credit history, which can help you make good financial decisions in the future.

[funkiehouse]

Kind of weird that they have credit karma in the URL, wonder why they do that.

 

Because CK is selling your information and making money from it just as they will for the referral by you signing up through the link.

[funkiehouse]

I thought FNBO was just as bad as first premier and credit one.

[JunkBuyersWorstNightmare]

I thought FNBO was just as bad as first premier and credit one.

 

No, just ultra-conservative about opening accounts.

[doctorofcredit]

Doesn't graduate and it's a hard pull to add funds to your credit limit. Very disappointing, could've been competitive for one of the better secured cards on the market but this is really borderline useless now.

 

https://twitter.com/FNBOmaha/status/454255693831225344

https://twitter.com/FNBOmaha/statuses/454254808434606080

 

Best secured card is still the discover it, shame you have to be targeted after denial to get it.

[funkiehouse]

 

I thought FNBO was just as bad as first premier and credit one.

 

No, just ultra-conservative about opening accounts.

 

ah..

[doctorofcredit]

I think these people might be totally incompetent, now they are saying it DOES graduate? https://twitter.com/FNBOmaha/status/455724962339225600

[RBinAK]

I think it's more that their tweeters are marketing people and not loan officers.