I am going to get a secured credit card to help rebuild my credit. Does anyone have any advice on a good one? I see the offers on the Internet but would like to hear advice from someone who has used one and it worked out well. I need to get my credit score up a bit more before I can re-fi at a decent rate so I want to get my credit score to go up as fast as possible. Any advice appreciated!
I had one through Capital One. I paid $300 which i got back when i cancelled the card. Someone got my card number and supposedly you can't get them to disallow automatic payments no matter how many times they have to remove the charges. I just gave up and cancelled the card.
My husband and I went through our bank (Wells Fargo). Our banker told us that they review your account every 3 to 6 months. She also told us never to spend more than 1/3 to 1/2 of your limit. If you keep your account in good standing and pay it off fast they will first double your limit, i.e. if you opened a secured account with $300 they'll double your limit to $600. If you continue in good standing, within a year, they'll refund your security deposit and give you an non-secured card. Hope that helps.
USAA offers the best regular MasterCard, in my opinion, especially if you want to avoid dealing with the NY banksters. I'm not sure whether they offer a secured card.
Have you tried applying for Orchard Bank credit cards? Credit one credit card? They specialize in approving people with damaged credit.
To rebuild credit it is easier to get a savings account, and get an equity loan against the balance in the account. It allows for the satisfaction of the debt in a small amount of time. Thus allowing the individual to qualify for unsecured credit cards.
by HubPages 7 years ago
How to build your credit
by Susan Reid 7 years ago
JP Morgan Chase is considering capping debit card transactions to $100 or even $50. It's all about fees they charge per transaction, currently $.44 and proposed to be slashed by Congress to $.12.That's a big hit for banks, yes.But after years of "training" us to swipe our debit cards...
by CWanamaker 5 years ago
What are some tips for improving your credit score when no one will issue you a credit card or loan?
by Darwin S. Carcha 5 years ago
Which is better to acquire, a Credit Card or Debit Card? Why?I'm looking forward to have either credit or debit card, but as of now I'm curious which will give better offer. Thanks for your help.
by Sonja Day 13 months ago
what do i need to apply for a credit card?
by Uneducated opinio 6 years ago
Try and refrain from using a credit card for any purchases that are not a necessity. Things want should he paid in full to avoid getting stuck in ungodly amounts of debts. I learned this lesson a little late but I did learn it ha. Try to be smart with your money. Also try to look for coupons online...
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