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What's a good secured credit card to rebuild credit?

  1. Dorsi profile image91
    Dorsiposted 6 years ago

    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!

    1. Uninvited Writer profile image85
      Uninvited Writerposted 6 years agoin reply to this

      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.

  2. savanahl profile image71
    savanahlposted 6 years ago

    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.

    1. Robie Benve profile image97
      Robie Benveposted 6 years agoin reply to this

      I got a VISA card through my bank, I used it for groceries and such, and paid the balance off completely every month. It helped a lot.

  3. Ralph Deeds profile image65
    Ralph Deedsposted 5 years ago

    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.

  4. profile image50
    Bankruptcy Shopposted 5 years ago

    Have you tried applying for Orchard Bank credit cards? Credit one credit card? They specialize in approving people with damaged credit.

  5. Reality Bytes profile image82
    Reality Bytesposted 5 years ago

    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.