applied bank secured card flagged?

i have one myself.had it for 7 months now.they report is as a regular credit card.my score goes up little by little with each on time payment.i love that card.

i paid 200 so i will have 150 in credit. how much of it do you recommend spending a month? does it make a difference if i make one big purchase a month and pay it off or several smaller ones?thx!
steve

well actually i use it for emergencies only.you will have the full 200.00.they charge the annual fee right away.it really doesn't matter as long as you pay on time.do with it as you will.

Does Applied Bank report to all 3 bureaus?

yes they do.you must have at least a 500 credit score though.

Yes they report every month just like a normal credit card. It helps people build up there credit when they cannot get approved for other cards.

A 500 score? So if one is below 500 then they cant even get a secured card is what you are saying?

at least this one they require a 500 FICO score.others don't have any restrictions and guarantee approval.new millenium bank is one.

This card is ok...better than some, but remember it does not have a grace period on finance charges like some do, so be careful.

be very careful with this bank. they have unscrupulous collection practices. here is an example
I made a one time payment on my fiancee's card(her acct not mine) from my checking acct, now they are withdrawing what they deem to be an appropriate amount from MY checking acct every month, and after calling to stop it, they continue to take my money. They have been told repeatedly that I am not a cardholder, and that my fiancee does not have access to my personal checking account. they continue to take $40-185.00 every month even after being told this is not authorized, and that legal action is in the works.
so my friends, be very careful with them....do a legal search for "appliedbank complaints" if you think i am kidding

they are rip-off's. their customer service sux. i'm going through a hardship and can barely afford my payments. i missed one payment and now i'm paying for it. i've been fighting with them to reverse the charges for a couple of months. now i'm reported late 4 months to the credit bureau's meanwhile i'm sending more than min. a month. they are rude on the phone and now i have bad credit and i'm getting deeper in a hole.

Has anyone used the card for a deposit for a car rental? Do they release the deposit? How are they for this?

I have. A secured card acts exactly like a regular credit card. There is only ONE difference: the company is not giving you a line of credit!
The car rental places generally release the deposit right away after all the closing paperwork is signed. It should take 3 or 4 days to show up on your credit card.

So the secured card will treat it as a "hold" abd not a charge just like a normal cc? I have no grace period on my card and I don't want to owe anything on a 500 hold.

The car rental place runs it as an authorization. When you return the vehicle, they process that authorization with the amount of 0, so nothing really gets *charged* to the card until you return the car and pay with it (but you can pay any way you like when you return the car, you don't have to use that card).

If you use this card , never max it out . Example: If you have a 200 dollar limit never use more than 20 to 30 dollars , and then pay it in FULL each month on time . This really helps your credit score showing you are responsibile by havin that amount to spend , but not spending it . Credit to Debt Ratio. Also , Every Couple months (3-6) Request a credit limit increase and do the same rule . 300 Limit , Spend 20-40 and Pay in full each month and NEVER BE LATE . After a year or so you credit score should see hell of an increase .