I am trying to rebuild my credit right now and i was wondering if anyone knows of any secured credit cards that will report to the major credit bureas? an other suggestions on credit opportunities that will report to the bureaus?
2006-08-06 04:13:16 · 4 answers · asked by mschaka77 2 in Business & Finance ➔ Credit
This card is unsecured, but reports to all 3 credit agencies. It is guaranteed with no credit checks. This sounds right for you. The limit is small at first, but builds with on time payments.
http://creditoffernow.com/imaginecard
2006-08-07 02:57:05 · answer #1 · answered by Harvy S 2 · 1⤊ 1⤋
A secured credit card functions like a normal credit card other then the fact that there is cash collateral backing the loan in the case that you default. That is why banks prefer secured cards for customers with little or damaged credit.
They should report to the credit bureaus as any normal credit account would. If you stay with a major bank, this shouldn't be an issue. If you go through a smaller bank, be sure to ask just in case.
I mean, what's the point of having a secured card to build credit if the banks aren't providing the paper trail to do so, right?
Good luck on rebuilding your credit!
2006-08-06 12:34:58 · answer #2 · answered by Jesse 4 · 0⤊ 0⤋
Capital One Secured Card. Best one out there. Reports to all 3 bureaus every month.
2013-10-25 13:17:14 · answer #3 · answered by ? 1 · 0⤊ 0⤋
I am in the same boat and after searching around the net and various forums, I decided that Orchard Bank and National city had the best offerings.
They both have fairly low minimum deposits ($250), both report to all 3 bureaus as standard(not secured) cards, and both will remove the deposit requirement after a year. The fee's aren't too crazy either.
http://creditboards.com/forums/index.php?showtopic=147198
http://www.orchardbank.com
You cannot apply for national cities card on-line by the way...that's why I linked a paper application.
2006-08-06 11:21:48 · answer #4 · answered by Jim R 5 · 0⤊ 0⤋