That's a good question. I'm not sure what is the answer to your question. I'll do some research and get back to you if I bump into an good answer. You should email the people at Lending Tree as they probably know..

Thanks for reply jymlewis,.

I will do that..

But let's say credit union and capitalone, don't give me a card. And if my only option becomes a secured card,.

Which ones would you recommend? Some place where I can deposit $1000.00 from day one, and have them keep reporting $1000.00 account to credit agencies (without specifying that it's secured)...

I wouldn't recommend that anyone get a credit card from Capital One. But that's only my opinion..

Buckets..

Try a secured Lending Tree loan for $5k (if you dont have 5k, put the Lending Tree loan into the CD) or become an AU on some good cards..

Many people miss this... If you open a secured for $1000 your future limits will be based on that amount. so the higher the secured card limit, the better future cards will start..

J/m .02.......

Washington Mutual has a secured card program too. I dont remember the interest rate- but it is not reported as secured. They want no delinquent accounts or collection activity to be approved...

Why not? Just because they don't report the high credit limit? This is usually the only bitch I ever hear about Cap. One. But I don't see it as much of an issue. You just max the card out one month with stuff you would have bought that month anyway - save your cash - and then after it cycles pay it off. Then you have the high credit limit reporting on your report..

My experience with Cap. One has been just awesome! They are very liberal with CLIs, they've agreed to lower my interest rates, upped my Gold card to a platinum with a 5% int. rate decrease, done pretty much whatever I've ever asked of them. Not to mention their website is one of the easiest to use. They don't charge for online payments, you can make these (free) online payments as often as you'd like, and they post the same day you make them!.

They also seem to answer their phone fairly quickly whenever I call. I like that too...

Amazing! I have quite the opposite luck with Cap One. The last time I ever held a Cap One card was in '96/'97 that was from my student days, with a limit of $500. By '96 I had been working for 2 years, my income quadrupled from my student days part-time job income, yet the credit limit stuck at $500 in spite of getting on the phone and asking them for an increase.... Needless to say, I cancelled my card..

Two months later, what do you know, I get a preapproved offer from CapOne for their platinum card with a minimum credit limit of $5000/= :) I just filed that offer in the circular bin..

I was never late paying any of my bills, ever (knock wood!) if you were to suspect that perhaps my credit history played a role in Cap One's denial decision..

Individual luck, I assume ....

Lakpr.

:)..

I just recently went through what you are starting. Friday past, after waiting 6 months I finally got a FICO score and they were pretty awesome. 700 to 750 scores respectively. What I did was get a $500 secured from Bank of America and $500 secured from Capital One. I would basically use them like crazy each month and then pay off 90% of the balance but keep a small balance alive to show usage. Using those 2 accounts alone I recieved my great scores above.

Authorized user has the bonus of getting you history (only get AU on a card with no lates and low balance and less than 30% utilization), no inquiry on your credit report (which will take points away) and a history (you gain the history of that card on your report). Anyways it worked for me and it can work for you. Like someone said earlier dont mess up cause you are in an awesome situation!!..

First Usa is very hard to get!. I do not recomend to apply for people bulding a cr history. I have been denied all my life for it! Also for Discover...

Someone mentioned getting added as an authorized user on someone else's account (parents, spouse, sibling, etc). This is a good idea in the way that it will provide you with a credit history right away..

If you decide to do this, make sure it's someone who you know will pay their bill on time. You don't need someone else's late pays on your report. Try to get added to an account that's been open a long time, little balance compared to limit and always paid on time..

I think your idea for a secured card is another good way. From my experience, almost all secured c.c co's report it just like a regular credit card..

The difference between them is the interest rate and the fees that they will charge. First Premier will rape you (I have one- it sucks). Orchard I'm sure is about the same...

As you don't have a subprime credit history-there's no need to go to a subprime co. Almost all of the larger banks (Bank of America, First Chicago, National City) probably offer a secured card program. With none of the "application fees" involved. Good way to build credit with a prime lender..

Getting a share secured Lending Tree loan was another good suggestion but I think eventually you'll need a revolving line on your report..

You *might* qualify for a small cl that is unsecured through Capital One. Some people hate them, some people swear by them. I, personally, love anyone that's willing to take a chance on me with my scores and not make me feel dirty and used once it's over. I just opened a $500 cl through them with a $99 security deposit...

I have a Washington Mutual Secured visa card and it does report as secured. The interest rate is 16.05% and the annual fee is $35. After 18 months they review the account for possible unsecuring of the account...

I've known several people that got turned down from Cap1 secured due to insufficient credit..

Bank America is very easy to get...

Richs-macy card are e-z to get if your name is in the phone book..

I'd apply at least one place even if you get denied it will start a file on you...

So basically there no 100% approval SECURED card where I can deposit $1000?.

These subprime cards that advertised here aren't really guaranteed?..

My wife does not have any credit history either, and she did apply for Macy's card, but was denied .... "Insufficient credit history" ......

Both our names ARE in the phone book ......

Lakpr.

:)..

Most of the banks will give you a $1000 limit if you deposit $1000..

If you have a blank file you need to get a secured card...

Aren't there any community banks where you live? Or perhaps a credit union that you can join?.

I got a secured visa for my wife to start her off on.

Her credit history building from my credit union. No inquiries, 100% approval, 8.9% interest rate, no annual fees ....

Been my experience that big name banks ALWAYS will ask for annual fee even on secured card (unwilling to pay fee to use my own money), and even then approval is not guaranteed .....

Small banks and credit unions are much more willing to give you a secured card, most without any annual fee ....

Lakpr.

:)..

Also rodo, if you have $1000 to spare, and your primary goal being building a credit history, I suggest the following:.

(1) Deposit $500 in a CD (say for 1 year) in a local community bank.

(2) Take out an installment Lending Tree loan from the same bank, with that CD as collateral, and a pay-period coinciding with the CD's term (= 1 year).

(3) Use the remaining $500 as collateral for a secured credit card.

The reason I suggest this is that, FICO seems to love "credit mix" instead of credit cards alone, if you have an installment loan, and make regular monthly payments on this loan, your FICO score will be higher than a simple "credit card only" tradelines..

I am currently trying this out for my wife ... by May we should pay off the loan....

Best of luck,.

Lakpr.

:)..