Do secured Credit Cards help?

Spazmo · 07-10-2008, 11:43 AM

I just got out of grad school, and I've got some credit problems. I need to get a credit card to rent a moving van, but I've been turned down by all major card companies.

I've seen some secured credit card offers and I'm wondering if those actually help your credit (with timely payments) or if it's just a sam.

Also, if they do help, which cards are recommended?

Thanks!

Spazmo

Hedwig · 07-10-2008, 11:59 AM

They will help build your history. It's better if you get one that doesn't report as secured. I believe that Bank of America doesn't report as secured. Not sure about Cap One.

Whatever you get, make sure that you always pay on time and keep below the credit limit.

aleo1203 · 07-31-2008, 05:37 PM

Do a search for 'bad credit credit cards' or something of that sort. I'm sure you can find a card that will report not as secured. Be sure to:

1.Make payments on time
2.Try and stay under 35% of your credit limit
3.Not apply for a lot cards at once

apexcrsrvc · 08-01-2008, 05:00 AM

National City reports as unsecured. Focus on building and repairing at the same time.