Is there a list of secured cards anywhere, that are good deals? I don't want to get ripped off, and I'm going to go with USBank as one of them, but would like a second one in there, as well. Any suggestions. I need to rebuild my credit, and not fall into the same trap as I did last time (get it good, and get in over my head). I'm doing better financially, and want to get started so in 2-4 years I can purchase a home. Thanks!
I have had my american pacific bank card for 6 months and it is great, super service, payments are posted on time, reports to all 3 CRA every month and the reporting is correct, only a 35.00 annual fee, easy to apply and ger approven. I highly recommend it www.apbank.com
Ditto the above post! 17%, cash advance available, deposits t oyour savings increase your credit limit, converts to reg. account at time when bank deems appropriate, usually 18 months.....Very Satisfied
I had a BOFA secured gold card and after a year, it was graduated into a unsecured card. This is a good card to start rebuilding your credit and I hear there are very generous with CL increases after you've been with then awhile. ( ofcourse with no late payments...)
Hubby has had AP card for 4 months now--no problems, quick posting, reporting to bureaus etc. I would love to get one but my income is too low. It would be possible for an AP "no income verification" card but I would need to deposit $600 minimum with them to get a $500 limit. Same interest rate etc. as the regular secured card. Just can't afford the $600 right now to send them. Wouldn't mind having this card at all and I highly recommend it to anyone trying to rebuild credit. Finally, some honest lenders!
Re: Re: Secured Cards I don't think they will. I remember reading something in the application re: requirements. So, stop by BOFA and pick up an application and it will say what you can't have as far as being approved for the secured card. my two cents...
Re: Re: Secured Cards No, they won'[t issue a secured card to someone with a BK. I stopped in to make my loan payment and read their CC application. Bummer.......
Re: Re: Secured Cards If your objective is to qualify for a mortgage in a couple of years then try to get a PASSBOOK loan at your credit union or bank. A passbook loan is where you get an installment loan secured by a savings account. Make sure that the bank or credit union reports the loan to the credit reporting agencies. Even better , if you get 2 or 3 passbook loans.
Re: Re: Secured Cards You won't believe this, but we tried that at our bank during the summer so that we got get about $3000 for a car someone was selling. The manager told us they don't have anything like that. I told her it would be secured by the money we have in their bank but she said it was still a no go. Geez, you would have thought we asked for $30,000!And this is not a small town bank, they have branches over most of the state. Go figure. Thanks for the idea anyway. I really do need something in my own name to help get my score up but as stated with such a low income nobody will give me anything. Except, it appears, Cap 1. It's just that I've heard so many bad things about them.
