Which Secured card???

Discussion in 'Credit Talk' started by newstdt, Jul 8, 2001.

  1. newstdt

    newstdt Well-Known Member

    I'm wondering which secured card I should try for. I only want one with maybe a $200 limit period. I can't apply for Cap 1 or Next Card as they were creditors in my bankruptcy this year. I only want one card to rebuild and to use when I rent a car. (Used National Car Rental Co. in Ca and they wouldn't let me even be a authorized driver as I had no major credit card. My husband had his company credit card thank goodness!!) Has anyone had experience with Future Card or Sterling? Any other suggestions? I know I've read on here bad reports on First Premiere or First Net? I'm so bummed about even having to file B. and not being able to even drive our rental car even though I've never had an accident and have an excellant driving record really burned me!! Just because I have a credit card it could be totally maxed out anyway! What's the deal? Well, thanks for letting me vent. Any help would be appreciated. Also I'm a SAHM, do you think they'll even give me one? My van is in my husbands name only with our credit union and the utilities are in his name. All I have is the Phone bill and my cell bill and a texaco card and as I remember they don't even report to the CRA's. How can I rebuild?

    Thanks in Advance for any info...
  2. Alex

    Alex Well-Known Member

  3. river

    river Well-Known Member

    I would go with FCNB=!st Consumers Nat'l Bank.
  4. making

    making Well-Known Member

    I'd say apply for FCNB and if you don't get approved go for sterling bank. FCNB will likely accept you, and if not sterling is guaranteed to accept. I have an unsecured FCNB card and recall reading only positives about the FCNB and sterling secured cards. Sterling will get it done for $200+$19+$39 outlay and probably cheaper from FCNB. Also, I believe both report as unsecured which is important.

    Also, I'd be wary of sites where people have a list of cards with links for you to apply, like the one offered above. Guaranteed those links are there to make that person money. The real tip-off is the Net1st mastercard. That card is an egregiously HORRIBLE deal. I don't see anyone looking out for other consumers could possibly recommend it.

    You might look here:

    or here

    Also, I do know someone who burned capone in a chapter 7, but who got a capone card immediately afterward (they offered it in fact), so it might be worthwile to ask. That may be an exception.

  5. OtherTerri

    OtherTerri Well-Known Member

    Scott - I followed the link on your post to the list of secured cards at Bankrate. I am wondering why the first cards on the list don't seem to be mentioned by anyone.

    The first card look almost too good to be true -
    Atlantic Coast Federal Visa, 9.99%F APR, $0 fees, credit limit equal to deposit. Other than the last part, is there something I am missing here?

    Also, you mentioned the fees for Sterling. Wouldn't that all be charged to the card upfront? Is that high, or are all secured cards like that?


  6. making

    making Well-Known Member

    Hmmmm. Actually I'm not sure. It's possible that they might actually want decent FICO scores. You might call and ask what their requirements to get one are and if they report to CRAs and if they report as a secured card. I never tried but its worth a shot.

    Actually, I just got a secured card from my credit union through my university and got a secured card with no fees, 12.99%, and they say it reports as unsecured but only to transunion.
  7. making

    making Well-Known Member

    Oh as for sterling, I think ~$50 annual fee is what you are going to have to expect to pay and expect to have a 1:1 limit:security deposit. However, I would say the most important thing is that it is reported to all bureaus and is reported as unsecured. That would be a make or break criteria for me.
  8. OtherTerri

    OtherTerri Well-Known Member

    "Sterling will get it done for $200+$19+$39 outlay and probably cheaper from FCNB. "

    On the website it lists a fee of $39. Are these other fees hidden? Is the $200 the deposit?
  9. making

    making Well-Known Member

    Yeah...$200 deposit+$19 application fee+$39 annual fee.
  10. OtherTerri

    OtherTerri Well-Known Member

  11. Buckcherry

    Buckcherry Active Member

    If you request a Sterling application and recieve it in the mail, it is very possible that you will get a coupon that will waive the applicaton fee. They have been giving them out lately. It is worth a try.
  12. OtherTerri

    OtherTerri Well-Known Member


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