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 Posted: Sun Jun 04, 2006 9:20 am Subject: ___ |
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Last edited by LessIsMore on Mon Aug 14, 2006 11:18 am |
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LessIsMore
Joined: 14 Apr 2006
Posts: 420
Debtcc Points: -903
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| Posted: Sun Jun 04, 2006 9:26 am Subject: |
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Be careful with the secured cards you see over the internet because they can charge excessive fees. You might want to use one with a reputable bank in your area. Just make sure what you charge, that you pay off every month. That is the quickest way to rebuild your credit and not get caught in the debt cycle again.
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MsCallieCat
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Debtcc Points: 100
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| Posted: Sun Jun 04, 2006 9:32 am Subject: |
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Last edited by LessIsMore on Mon Aug 14, 2006 11:19 am |
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LessIsMore
Joined: 14 Apr 2006
Posts: 420
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| Posted: Sun Jun 04, 2006 10:29 am Subject: |
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I know Bank of America will give out a secured credit card as long as you have a savings account to tie it to. Your credit limit on the card it determined by how much is in your savings account.
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LCW
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| Posted: Sun Jun 04, 2006 11:52 am Subject: |
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If you belong to a local credit union bank some of them offer secured as well. bankrate has a small list of companies that offer secured. Hope links are allowed. Only a few don't offer annual or setup fees so keep a sharp eye out.
Link deleted as per forum rules - Mike
Also keep an eye out for these stupid offers that come in the mail for credit card offers where they charge setup fees, annual fees, processing fees etc. In the end your left wwith like a 50 dollar credit limit. A family member who filed bankruptcy started getting a bunch of these right after.
I never filed bankruptcy but, it seems lately that banks are picky about giving out the secured cards. They won't even give me one until I get letters stating that all outstanding debts are paid.
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Billyknep
Joined: 23 May 2006
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| Posted: Sun Jun 04, 2006 8:28 pm Subject: |
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Last edited by LessIsMore on Mon Aug 14, 2006 11:20 am |
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LessIsMore
Joined: 14 Apr 2006
Posts: 420
Debtcc Points: -903
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| Posted: Sun Jun 04, 2006 9:16 pm Subject: |
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If when you do get a secured card I think an article I read said to look for one that reports monthly or so to your credit report.
The problem I have with gas cards and more so these days is that gas prices are so different from one named station to the next that I won't want to tie myself down to one station. I thought gas cards were the hardest to get with bad credit too.
The only credit card I'm holding out for and it will be most likely years before I qualify for one is a cashback one. ATM my credit is shot for well long time to come and I deserve it all due to my lazyness and stupidity.
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Billyknep
Joined: 23 May 2006
Posts: 30
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