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Secured Credit Cards

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Old 05-11-2006 | 11:57 AM
  #1  
pebe's Avatar
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From: Queens, NY
Question Secured Credit Cards

Does anyone here have a secured card? Or ever had one? I need to re-build my credit, and this seems to be a good way to start. If anyone has any suggestions, I'd appreciate it.
Old 05-11-2006 | 12:12 PM
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I had 1. Needed something since I was denied anything else. You need to start somewhere. It's a good way. My experience was with Providian.
I put in $50 savings & they gave me a $200 credit line. It was a $50 yearly fee added to it. Maxed out the $200 each month & paid it off each month, for about 6 months then they raised it to $1000. Maxed that out, paid it down for another 6 months, then they took the yearly fee off. After a few years they up's the max & then made it an unsecured account.
Old 05-11-2006 | 12:14 PM
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Originally Posted by fuzzy02CLS
I had 1. Needed something since I was denied anything else. You need to start somewhere. It's a good way. My experience was with Providian.
I put in $50 savings & they gave me a $200 credit line. It was a $50 yearly fee added to it. Maxed out the $200 each month & paid it off each month, for about 6 months then they raised it to $1000. Maxed that out, paid it down for another 6 months, then they took the yearly fee off. After a few years they up's the max & then made it an unsecured account.

Sounds good, that's what I'm looking for. Did you do everything on-line?
Old 05-11-2006 | 01:26 PM
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No
Providian was just bought & merged so I don't think you can use them anymore. But call around to some companies & see what they can do fo you.
Old 05-11-2006 | 06:57 PM
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Try Bank Of America. They have a secured credit card.
Old 05-12-2006 | 07:50 AM
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pebe's Avatar
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Originally Posted by F900
Try Bank Of America. They have a secured credit card.

Cool, there's a BofA around the corner from me.
Old 05-15-2006 | 09:04 AM
  #7  
tnl_tsx's Avatar
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From: VA
Also try Citibank, they're pretty secured and online banking too.
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