Someone told me that while I'm trying to clean up my credit it was a good idea to get some positive credit going. That I should think about getting a CC. I don't have one now( I use my visa check card..money comes out of my checking acount) Does anyone have any idea of a good one? If their is such a thing as a good CC? I have crappy credit so a think a secured card is the way to go....any feedback would be great... By the way, finding CREDITNET was one of the best things that happened to me in 2001! Thanks to everyone that posts! Melissa
I have been cleaning up my credit for a few months now and I applied for a Direct Merchants Bank Titanium i advantages Mastercard. I got the card with no problem. The Annual Fee is only $30 and there is no application fee or processing fee and they do have a 25 day grace. Also there is a minimum deposit of $200 (Which you can give them right online for the online application) Hope this helps. Apply at http://www.directmerchantsbank.com
phxbbw6ft1, I think FCNB is the best secured card and they give you up to 2 times cedit limit of your deposit. They reported you to all major credit bureaus monthly. Ron.
They have recently changed and are now giving up to 500% of your deposit based on your credit. The minimum they give is 150% of your deposit. So..even if you open with $100 you have a CL of $150. But you can get as high as $500. I got 300% on my 1st one.
Capital One is another good card to start with. They usually give double your security deposit i.e. $99 deposit yields a $200 cr. line c.c., they have no application fees, no processing fees, AMF is usually between $29-39, and they report to all CRA's every 30 days, and have an online pay sysytem thats free, so you'll never have to worry about being late.
I got a $300 line for $49 with Cap one. A $225 line for $150 with FCNB and a $200 line for $200 with 1st Premier. My personal feelings on these are good. Great experiences with all. I think I'm the only one with 1st Premier that doesn't have all the fees associated with the account. Cap One has 0% intro APR go to of 19.8%, with guaranteed increase at 3 months. FCNB isn't too bad either. Good Luck!
I just got the Direct Merchants Secured card recently (less than a month ago) so I am going to find out.
Thanks everyone for replying to my question. When I posted this question I checked the box at the bottom, so i'd know when people replied. It didn't work, good thing I check the forum because I thought noone answered: ) Melissa
Try Cap1. If you get denied appeal the denial with a nice letter to www.planetfeedback.com and see if that dept can get you one. If you don't have a bankruptcy, ANB secured visa is good too. (Associates national Band) www.anbcards.com. Also, with no bk try Citi and BofA. Last choice: FCNB (First Consumers National Bank) but only their secured card. Their unsecured card has poor terms. I'd apply in that order. Cap1 is great because when you do well with them, you can get a mc later and you can work this card to unsecured, and then prime terms.
Wells Fargo offers a secured Visa, even with a bk: http://www.wellsfargo.com/credit_cards/select_card/secured/ The only bad thing is that the card can never become unsecured. There's something in the works to allow a secured card to "graduate" to unsecured, but the customer service rep didn't know exactly when that program would be rolled out. wajaba
