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Bank - Provide a Secured Credit Card?

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  • 01-08-2013 4:09pm
    #1
    The_Poznan
    Registered Users Posts: 73 ✭✭


    Hi lads,

    Over on a 1 yr visa (J1) in Texas. Was wondering what bank would provide me with a $1,000 secured credit card in order to start building up my credit score?

    I have already tried Fargo and Security Services (Fed Credit Union) who both refused.

    Or any related advice would be much appreciated.

    Thanks.


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    #2
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭Ponster


    I have a $1000 card with Capital One who were only too happy to sell me their services.

    I don't understand why any bank would refuse you a secured card? Where is the risk for them ?


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    #3
    lil_lisa
    Registered Users Posts: 1,829 ✭✭✭lil_lisa


    Same here, I had a checking account with Chase for over two years (mostly had activity in the last year) and was denied a credit card. I finally paid attention to all that junk credit card mail, applied for a $750 Capital One card and got it straight away. Really helped build up my credit (and debt :p)


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    #4
    iusedtoknow
    Closed Accounts Posts: 1,698 ✭✭✭iusedtoknow


    we have a non secured card, offered to us when we opened our accounts.

    However, as you are on J1 maybe they are slightly more nervous as you could (in theory) skip the country (not that you would). However Try BOA or Chase , they have been really good for us

    Capital one should be your first stop though, they may start you off with 500 or so, and then creep up after a few months.


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    #5
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭Ponster


    iusedtoknow wrote: »
    Capital one should be your first stop though, they may start you off with 500 or so, and then creep up after a few months.

    It's a secured card so it starts with whatever you want to give them, from $200 to $3000. I got a $100 card and after 6 months was approved for $1300

    best to dump it though as soon as you can apply for a real credit card. Paying 23% interest on what is your own money being lent beck to you is crazy so make sure that you make those monthly repayments in full.


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    #6
    Ruu
    Closed Accounts Posts: 9,622 ✭✭✭Ruu


    I had a secured card when I moved first with my local bank. I gave them $500 (which they gave me back at the end with interest after a year or so) and I got a credit card with the above limit. You'll know you've hit the big time when your mailbox is full of credit card offers. :p


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