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jennica415

1 Contributions 18 People Helped
Member since: October 2010

Most Helpful Contribution

What is a secured credit card?

Helpful to 18 out of 20 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.

- Dec 08, 2010

Response by jennica415

1 Contribution
18 People Helped

Activity (1 Total Contributions)

What is a secured credit card?

Helpful to 18 out of 20 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.

- Dec 08, 2010

Response by jennica415

1 Contribution
18 People Helped