Wheres the best place to open a secure credit card?

Question

I dont have any credit and lots of student loans, I've never had a credit card. I wan tot build my credit, but no one will give me a credit card. Im stuck with this secure crap apparently. I opened one with HSBC but theyve had horrible customer service, losing my paperwork, making me jump through a million hoops, and worst of all taking more than 3 months to setup a simple card that is not even activated yet. Im fed up. Any other ideas?

Orchard Bank is the same as HSBC

No Orchard Bank they have horrible customer service (via HSBC)

Oh nice. I just got approved for a credit card with USAA (the absolute best insurance company on the planet) and I didnt even need a secure card. Hoorah! All you Orchard bank lovers need to get a clue!

Answer 1

well, I've had a credit score of 785 to 810 from the time I was about 22. The only credit card I truly believe in is American Express. I've switched to Blue by American Express because there's no annual fee.

But, if you can not get a credit card, I would try a credit union. Try every one of them. Be VERY VERY weary of credit card companies. My entire family is in the financial business and NO ONE HAS THE SLIGHTEST CLUE HOW UNBELIEVEABLY SLIMY THEY ARE. It would blow the average human's mind if they knew the types of practices that credit cards were allowed to practice under. It all started with one man in the 80's who's had to move about 50 times since because so many people want to assassin him. He's the one that created the concept of "compounding interest" and made the credit card companies TRILLIONS of dollars off of people's misfortunes.

SO, if ANYONE like at a store like target, old navy, gap, walmart, ANYWHERE offers you a credit card and you'll save yourself 15%,,,,tell them to go (*&#$(*@&#($ themselves. They are out for your first newborn.

Only trust American Express and a credit union. You should be able to find a credit union who will give you a small balance just to see how well you do with payments.

You will build credit, don't worry. Just pay off car loans, student loans, etc. All of that counts towards credit.

Answer 2

Orchard Bank has a good Secured Credit card program thing. I just signed my boyfriend up for that, he had the same problem trying to establish credit. There's links to it on Yahoo's homepage, or you can check it out at www.orchardbank.com. If you are still in school, you can also apply for a Student Card from Mastercard or Citibank.

It will all work out! Don't get too frustrated. Credit-building can be a frustrating, overwhelming experience, but just hang in there. Good luck!!


PS: I see now that Orchard Bank is owned by HSBC, I see "HSBC card services" on the bottom of the OB's website. But you can always call and ask them what happened and demand that your credit history be corrected if they messed up anything and say you want to be cleared of everything. You can still try Orchard Bank though if you want, they are based in the US (Nevada) while HSBC is International, so maybe you'd have better luck that way.

See if major companies like Mastercard, Discover, American Express, etc. offer Secured cards or other "beginner" cards. Cards for stores like Target and stuff are good options too as long as you pay them off. I see the person below me's rant about that, but I know people that haven't had any problems at all. Just make sure you don't spend more than you can afford to. Start off small, like only $100 a month, even if your balance is much higher, for a couple months and then work your way up. If they give you a $1000 balance and you go and spend $995, the credit card companies are going to start getting nervous about whether you'll go over and if you can pay them back. So be thrifty for a little while.

Answer 3

I agree with Chica - Orchard Bank does offer some good programs for people with poor/insufficient credit.

Another suggestion I will offer is First Premier Bank. They specialize in the same types of credit situations, and do offer cards that require no security deposit. The only catch is that when you open an account, you are usually given a $300 limit with $150 in fees already charged to your card. So, in effect, you are paying $150 (plus an additional annual fee) just to have the credit card reporting to the three major bureaus.

For some people, however, it is worth it. If you don't have money to put in to a secured credit card, it provides another alternative. I hope this helps.

:o)

Answer 4

forget about the secured card doesn't make sense to let someone make money on your money in two different ways
that is robbery
try this place http://www.wesayes.com
here is some text from the site
"We have over 50 Banks & Companies that offer Bad Credit Unsecured Credit Cards and Merchant Cards to people with good credit, no credit, bad credit, or even a bankruptcy. - NO SECURITY DEPOSIT. Apply Online. You can get started right away"

Answer 5

Orchid Bank has a pretty good secure credit card service.

Answer 6

i know that Bank of America is the best....after there probationary period they turn it into an unsecured credit card. I hate B of A but love there secured credit card