Best Secured Credit Card for After Bankruptcy
Author: archive
Posted: Tue Jul 27, 2004 1:22 am
Post subject: Best Secured Credit Card for After Bankruptcy
michael
Date: 9/3/2001 7:58 am CDT
What are the best secured cards for rebuilding credit after bankruptcy?
do any secured cards also give frequent flyer miles?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: archive
Posted: Tue Jul 27, 2004 1:22 am
Post subject: Best Secured Credit Card for After Bankruptcy
Board Monitor - AD
Date: 9/3/2001 10:28 am CDT
Micael,
To learn more about secured cards visit:
http://www.creditcardfreedom.com/reviews/cards/category_card/specificARotation.asp?category=secured
Basically, you want to look for a secured credit card with limited fees and a low deposit requirement. The Capital One Secured Card, has a reasonable annual fee and a low deposit requirement.
In terms of rewards, secured cards tend to have limited benefits, and rarely offer access to reward programs. However, the Wells Fargo Secured Visa Card does offer access to a travel reward program, to learn more about the card visit:
http://www.creditcardfreedom.com/reviews/cards/details/all.asp?creditcard=Wells+Fargo+Secured+Visa+Card
Sincerely,
Alex Daskaloff
http://www.creditcardfreedom.com
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: archive
Posted: Tue Jul 27, 2004 1:22 am
Post subject: Best Secured Credit Card for After Bankruptcy
Bill B
Date: 9/3/2001 11:32 am CDT
I would take a look at sterling bank& trust..That was my first card and was very happy!!
Author: archive
Posted: Tue Jul 27, 2004 1:23 am
Post subject: Best Secured Credit Card for After Bankruptcy
Péter
Date: 9/4/2001 7:02 am CDT
The Strlning Bank & Trust card was my first card too and I was very happy toooooo!
Author: archive
Posted: Tue Jul 27, 2004 1:23 am
Post subject: Best Secured Credit Card for After Bankruptcy
Eugene
Date: 9/5/2001 1:22 am CDT
I kept silence the first time but I feel I have to say it now:
Sterling secured has $39 annual fee and $19 processing fee ($60 + $49 for secured Gold). Yes, they give you 120% (133% for Gold) of your security deposit in credit line, as opposed to 100% of most secured cards. But what is worse, having to pay another 20% of refundable (with interest) security deposit, or twice as high fees (you can find a card with $20 to $29 annual fee and no processing fee)? You can actually do the math (I don't know what interest they pay on security deposit, so I can't). My bet is, overpaying in deposit is better than overpaying in fees.
Go to bankrate.com (http://www.bankrate.com/brm/rate/cc_ratehome.asp?cc_online=0&hAboutType=C&product=cc&prodtype=cc&web=brm&R1=13&card_type=Secured&card_class=All&cc_freq=1) and choose yourself a cheaper and better alternative instead.
It helps to look at secured cards as a temporary solution. If you have no credit history, it is likely that you will qualify for a good unsecured card in as little as 6 months (with past credit problems it is likely to take longer). Dump them as soon as it is possible for you to qualify for something better, and the credit line is likely to increase dramatically and naturally. Mine went up more than three times from the 8-month old secured card to my first unsecured.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Tue Jul 27, 2004 1:22 am
Post subject: Best Secured Credit Card for After Bankruptcy
michael
Date: 9/3/2001 7:58 am CDT
What are the best secured cards for rebuilding credit after bankruptcy?
do any secured cards also give frequent flyer miles?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: archive
Posted: Tue Jul 27, 2004 1:22 am
Post subject: Best Secured Credit Card for After Bankruptcy
Board Monitor - AD
Date: 9/3/2001 10:28 am CDT
Micael,
To learn more about secured cards visit:
http://www.creditcardfreedom.com/reviews/cards/category_card/specificARotation.asp?category=secured
Basically, you want to look for a secured credit card with limited fees and a low deposit requirement. The Capital One Secured Card, has a reasonable annual fee and a low deposit requirement.
In terms of rewards, secured cards tend to have limited benefits, and rarely offer access to reward programs. However, the Wells Fargo Secured Visa Card does offer access to a travel reward program, to learn more about the card visit:
http://www.creditcardfreedom.com/reviews/cards/details/all.asp?creditcard=Wells+Fargo+Secured+Visa+Card
Sincerely,
Alex Daskaloff
http://www.creditcardfreedom.com
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: archive
Posted: Tue Jul 27, 2004 1:22 am
Post subject: Best Secured Credit Card for After Bankruptcy
Bill B
Date: 9/3/2001 11:32 am CDT
I would take a look at sterling bank& trust..That was my first card and was very happy!!
Author: archive
Posted: Tue Jul 27, 2004 1:23 am
Post subject: Best Secured Credit Card for After Bankruptcy
Péter
Date: 9/4/2001 7:02 am CDT
The Strlning Bank & Trust card was my first card too and I was very happy toooooo!
Author: archive
Posted: Tue Jul 27, 2004 1:23 am
Post subject: Best Secured Credit Card for After Bankruptcy
Eugene
Date: 9/5/2001 1:22 am CDT
I kept silence the first time but I feel I have to say it now:
Sterling secured has $39 annual fee and $19 processing fee ($60 + $49 for secured Gold). Yes, they give you 120% (133% for Gold) of your security deposit in credit line, as opposed to 100% of most secured cards. But what is worse, having to pay another 20% of refundable (with interest) security deposit, or twice as high fees (you can find a card with $20 to $29 annual fee and no processing fee)? You can actually do the math (I don't know what interest they pay on security deposit, so I can't). My bet is, overpaying in deposit is better than overpaying in fees.
Go to bankrate.com (http://www.bankrate.com/brm/rate/cc_ratehome.asp?cc_online=0&hAboutType=C&product=cc&prodtype=cc&web=brm&R1=13&card_type=Secured&card_class=All&cc_freq=1) and choose yourself a cheaper and better alternative instead.
It helps to look at secured cards as a temporary solution. If you have no credit history, it is likely that you will qualify for a good unsecured card in as little as 6 months (with past credit problems it is likely to take longer). Dump them as soon as it is possible for you to qualify for something better, and the credit line is likely to increase dramatically and naturally. Mine went up more than three times from the 8-month old secured card to my first unsecured.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 11:45 AM
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