secured credit card?

Question

i want to get a new credit card , i dont have any history , do i need to get secured credit card first, which is best, is there any annual fee

Answer 1

First of all, if you are going to get a secured card, get it from bank of america, they have the most reasonable one. It does not need to come to that. Finbd someone with good credit that you CAN SERIOUSLY TRUST. Ask them if they would be willing to allow you to become an authorized user on one of their credit cards. Tell them once the new card comes in the mail, they can have it so that you cannot use it. This will add aged credit to your report. Remember, you have to trust them and they need to have good credit for it to work, because if they miss payment, you are screwed. If you do not want to go to those lengths, apply for normal cards until you get approved.

Answer 2

A "secured" credit card has no fees or at least the one we set up for my son.... He went through USBANK. But keep in mind they can change thier policies at anytime.

A secured credit card basically means you give the bank $1000 they then give you a credit card with a $1000 limit... you go shopping, and pay the credit card bill when it comes monthly like normal credit cards... The $1000 sits in the bank and does not get touched, that's where the title "secured" comes in.

(Do not do business with captial one or any bank associated with them) but thats a whole different story!!! TRUST ME !!

In a few months you have credit built up and you can ask for a higher line of credit. Aaaaaaaaaaah the credit cycle has now begun.... Good Luck and pay off your credit card debt EVERY month and life will be good !

Happy Friday !!

: )

Answer 3

i'm doing an identical element with a $three hundred card settle for I can charge the cardboard 0.5 thanks to 100 and fifty$ and pay it off each month so there is no pastime. the better the quantity the added credit yet shop in ideas if you're card has more beneficial than 0.5 its stability used up on the top of each month it actually lowers the score and sends up pink flags . So can charge 0.5 the soundness each month and pay it on the on the spot. i'm employing the monetary company of u . s . a . of america secured Visa and it really worry-free to pay it off on-line earlier its even due with a appropriate bank account . somewhat I evaluate it no danger for the reason that i'm paying no pastime and that i only use it for groceries. Its an identical as employing my examine card settle for i'm getting credit so why no longer can charge somewhat extra and receive the benefits. sturdy success consisting of your credit ! about the remark on the intense costs monetary company of u . s . a . of america does no longer can charge those stupid costs . usually the on-line No call banks try this yet no longer a respected monetary company some respected banks would can charge an annual $50-60 yet it really is pennies at the same time as it involves the hardships you could wade through from very undesirable credit

Answer 4

I agree with bella. Other banks have good secured credit card products where you can either have money on dep. in a savings acct. or a cd. Typically, within 8-12 mo. of good acct history you will be eligible for an unsecured cc.

Answer 5

try a store card first. if you can't get a store card then yes, getting a secured card is your best option. go with bank of america. they will unsecure your card after 8 months to a year and they will give you a good credit limit when it unsecures.