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Got a question, hope someone can answer... What is the song from the Discover Card advert with that couple traveling around the world? Many thanks for any answer. My 2nd question... Hello! I am new here....and I am in the middle of researching the newbie board. I see that I should get both myself and my husband a Discover credit card to start to build positive credit as we pay off old charge off's etc. We won't get approved for an unsecured card so I want to get a secured card. |
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Hmm... I need to find out myself. I don't know what is the right answer. I'll do some Googling and get back to you if I discover an answer. You should email the people at Discover Card as they probably could give you an answer..
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Someone suggested this secured card to me but I haven't had the chance to really check it out. Feel free to look into it yourself:.
Http://www.publicsavings.com/.. |
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I'm not too keen on the 80.00 activation fee....
I just found this card today. UPside Card. The monthly charge is 1.99 - can be free with monthly deposits of 300.00. I did check the BBB for a report, they have have 2 complaints, and one was unanswered so they have an F rating but I couldn't find any rip-off reports or consumer complaints....they are verified by GeoTrust. This post has been edited by. Asti. : 22 January 2010 - 10:17 AM.. |
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I would use it for $10 to $20 every month and pay in full every month. Don't carry a balance. When the day comes that you are ready to apply for unsecured cards you can often get higher limits on those cards by first raising the limit reporting for your secured cards. With Orchard you can do that my depositing more money into the account that secures the card. It will then report with the higher limit the next month and when you apply for a new unsecured card creditors often give you limits near what your current limits are...
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A prepaid VISA is not the same as a secured credit card. Prepaid visa's don't report and will therefore not help you with credit repair...
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Okay thanks! so I think I will get us both an Orchard Card for now and have 200 on each. Charge a very low amount per month and pay in full like you said..
Now, with these being secured cards, do they report the same way to the bureaus as an unsecured credit card?. Thanks!!.. |
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Some secured cards do report as "secured", some do not. Orchard is one of the ones that does not report as secured. Either way, FICO does not care whether a card is secured or not. FICO score counts a secured card and an unsecured card the same...
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At a glance the link I sent you to public svings secured card says:.
€No Annual fees. €0% APR on all purchases for the first 6 months. €Credit not a factor. €No income requirements. €Choose your credit limit from $200 to $1500. €$0 fraud liability. €Build good credit - we report to all 3 major credit bureaus!. Many secured cards have a lot of fees tied to them. This one is pretty good at a glance. If I were you I woudl look to fund at least $1K if possible. This will help you later on... |
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Public Savings never unsecures, so I would avoid it..
I loved my Wells Fargo secured. Low annual fee (that went away when it unsecured at 12 months)... |
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Make sure you crank those limits up to at least $1000 during the secured period,.
More if possible.. Lenders typically match what other lenders give you in credit limits. If you have 4 $3000. Tradelines, you'll like get a similar Credit limit on your next card. If you have 4 $200 Tradelines,. You will get similar limits.... |
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Duplicate post.
This post has been edited by. Sonicanatidae. : 22 January 2010 - 12:46 PM.. |
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When I get money (whenever that'll be) I'm going to open a Public Savings, NMB, and National Security secured card.
Already have an orchard unsecured so no need to have but loads of HSBC accounts especially when they limit you, so I'm saving one for the best buy card... |
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I definitely understand your position there..
Note that most secureds can be started with $300 and you can add. To them in $100 increments. What you cant replace/cheat is time and. The longer the TL the better..... Good luck!. Ps. you can trust my advice. I was a goalie in Soccer for 6 years till. I wrecked my knee. Not too bad of a goalie either. I'm sure it was. Quite impressive to see a linebacker sized goalie dive for a ball... This post has been edited by. Sonicanatidae. : 22 January 2010 - 02:26 PM.. |
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It would be an open TL addition. Some cards convert which is great but if you are looking for TL's to build and your options are limited this is a good option to me. No fees...
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Wells Fargo charges $18 a year and is not friendly to those who have had Bk's and liens in the last 12 months. Maybe a fit for you but not everyone esle including myself who has a Bk under 12 months..
I am not promoting them. All I am saying is if your options are limited and you need a new TL in building it is a decent option.. This post has been edited by. Ericgunit. : 22 January 2010 - 03:20 PM.. |
