I have had this card for around 4 months now. The whole process from applying for the card and receiving the card took about a month, but it was definitely worth it! This is not a card you want to use to carry a balance after all it is a secured card and is for rebuilding credit not using the card because you actually need the credit. So keeping this in min this is how I use my card... I use no more than 30% of my $300.00 credit limit. I pay my balance off in full every time I receive my statement. To pay off my bill I purchase a money order and mail it in and it usually takes 6 days to credit my payment (this is the best and quickest way to make your payments with this company). I will say that I've contacted customer service a couple of times before I received the card and no, they aren't the nicest people, but it is a secured card and not an AMEX card so I don't expect red carpet service. All in all having this card has contributed to raising my FICO score 58 points in 3 months. I have been using CK for around 4 months now and it has helped me trmendously. I have read so many extremely helpful reviews on here! Between this website and MyFico.com I have raising my Fico score from a 591 to a 649 and I now qualify to purchase my first home! I am 28 and have made some mistakes in my past and have been very irresponsible, but I am proof that it can be done. It took me around 4 months for this score jump and some money to pay off some bills, student loans, collection accounts, (you name it I had it lol), but I'm getting there and I couldn't be more thankful for websites like this one :)
ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL
- Balance Transfer Intro APR Not Applicable
- Balance Transfer Regular APR Not Applicable
- Annual Fee $44
- Purchase Intro APR Not Applicable
- Purchase Regular APR 11.99%* Variable
Most Helpful Positive Review
Most Helpful Negative Review
While this card has its benefits, it's pointless to apply for it. It's an $89 processing fee PLUS a $75 annual fee which is $164 that you will never get back. You can get the same benefits with a capital one secured credit card. I paid the $89 processing fee then the woman in customer service said I have $225 available because of the annual fee. I immediately cancelled to get my $89 back, applied for capital one secured and was approved for $99 security deposit that I will actually get back! Plus the annual fee is almost 1/3 with capital one. $37. So instead of losing $164 to get a $300 credit limit, You lose, worse case, $236 with $199 that you get back, and it's easier to get approved for the capital one card. With capital one you will have to pay either $49, $99, or $199 deposit based on your credit. But as I said, you get it back in the end. Plus with on time payments in your first 5 billing cycles, your credit limit will be increased. So essentially, you are getting the same benefit with much less cost. It may cost a little more upfront, but you get all but the $37 annual fee back when you close the capital one card.
Compare Holders of this Card
Sample Size: 3,617
Data Created: February 02, 2015
Note: Sample data consists of Credit Karma members who hold this card.
The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
See Your Approval Odds Before You Apply
Sign up for a free membership, and Credit Karma can estimate your chances of approval based on your credit profile. You’ll also get:
- Credit scores and reports
- Credit monitoring
- Personalized recommendations
See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.
† Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there's no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.
‡ Average score refers to the arithmetic mean and typical low score to the 5th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from June 2014 through November 2014. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.