jennica415

1 Contributions 22 People Helped

Member Since: October 2010

Most Helpful Contribution

What is a secured credit card?

Dec 08, 2010
Helpful to 22 out of 24 people

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.

Activity (1 Total Contributions)

What is a secured credit card?

Dec 08, 2010
Helpful to 22 out of 24 people

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.