We went ahead and got one and put an $850 security deposit on it. Our plan is to charge 30% the credit limit, make 3 payments of the minimum monthly payment, plus an amount equal to the minimum, applied to principal only, and then pay it off entirely in the 4th month. And also, get a second card like this, that we just pay the full balance on every month. I'm hoping this will build up some good credit quickly. What I like about this card v. other cards... Other cards want you to put up a $200 (or more) security deposit first, then send you the card in 2-3 weeks, forcing you to 'sit' on your money for 2-3 weeks. With this card, they mail you the card, you go an load it (cost is $4 or $5 to load) and then it's available for spending immediately.