Got a Preapproval letter in the mail for a $300 Credit Line when my credit score was 630. After just a few months of on time payments, my credit score jumped about 30 points and they offered an additional $150 credit line increase. (I don't recall any fee for the increase but I have seen others post there is a fee if you ask them for an increase) After 10 months, my credit score is now 670 and am beginning to receive credit offers from different companies.
PROs: online/paperless statements, free bill pay for standard payments (usually posts on account in 1 or 2 days but takes about 5 days before that payment is able to be used as usable credit), free monthly credit scores (based on experian credit file), phone customer service if you need it, and user controllable email alerts for just about anything you could possibly want. Best of all NO DEPOSIT required to open account like all the other "secured" credit cards.
CONS: Yes, the annual fee is $75 and interest rate is high, but everything is disclosed up front and IMO a small price to pay to reboot your credit. Be aware of additional fee for an authorized user, $19/year extra and they constantly ask you everytime you sign in online if you want a "custom" looking card for an extra fee of $6.50 but only give you about a 8 options for card design. I selected the basic looking card at no charge.
TIP: Your credit score increases faster IF you keep this and any other credit card balance UNDER 30% of the credit line. Also, after the initial 30 point bump for having the credit card, your score will still go up a point each month you have the card for length of use. Many people here are quick to close this account out as soon as they qualify for a slightly better deal but you may consider keeping this card and paying the annual fee just to keep increasing your credit score.