I have bad credit and in 6 months i am planning on financing out a motorcycle. I could sign up for a secured credit card through citibank but i was wondering if that would hurt my credit or make it better. i was denied a credit card from chase visa about a month ago.
It depends if citibank reports secured cards to the credit agency.But credit is hurting you you should try to see if you can clean it up before you buy.
Excuse me but I don't understand your logic. Why even get a secured credit card? A secured credit card's limit will be the same as your secured savings account. If the price of the motorcycle is the same as the security deposit that you are willing to fork over to Citi why don't you just buy it outright? While regular, timely monthly payments will rebuild your credit score over the long haul in the meantime you would be lining Citi's pockets with their predatory loanshark interest rate with absolutely no assurances that Citi will not continue to raise those interest rates.
