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jennica415
Member since: October 2010
Total Contributions: 1
Most Popular Contribution
What is a secured credit card?
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(1 Total Contributions)What is a secured credit card?
Nowadays it's difficult to get your first credit card without one of these. I turned 18 this year and decided it was time to start my credit. This was the only thing I could get approved for without a co-signer. $100 deposit, $39 annual fee, and 22% interest. Pretty much sucks, but one of the only ways to start. After about 3 months of using it carrying over only a small balance like $5 or $10, my credit score was already 734. Great to start credit, but don't keep it for more than a year and don't carry a big balance over or you'll just end up losing more money than it's really even worth. Plus you get your deposit back as long as you're good with it.
Response posted 1 year ago
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Credit Card Offers Just For You
These are the most popular credit card offers from Credit Karma members with credit similar to yours.
Orchard Bank Classic MasterCards
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
- Email and text messages to remind you of your upcoming payment due date with online enrollment
Orchard Bank Classic MasterCards
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
- Email and text messages to remind you of your upcoming payment due date with online enrollment
Capital One® Secured Mastercard®
- Get the credit you need with no processing fees or application fees
- Automatic reporting to the 3 major credit bureaus
- Track credit with access to your credit score and other tools
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Nowadays it's difficult to get your first credit card without one of these. I turned 18 this year and decided it was time to start my credit. This was the only thing I could get approved for without a co-signer. $100 deposit, $39 annual fee, and 22% interest. Pretty much sucks, but one of the only ways to start. After about 3 months of using it carrying over only a small balance like $5 or $10, my credit score was already 734. Great to start credit, but don't keep it for more than a year and don't carry a big balance over or you'll just end up losing more money than it's really even worth. Plus you get your deposit back as long as you're good with it.
Response posted 1 year ago