Do these exist? I did a search, and gleamed through the credit card faq post, but I could not find any additional information on this. The 2 no credit/bad credit cards recommended in the faq both carry fees, and require you to have a savings account with that bank. Looking for a no-fee credit card to rebuild credit. My CR is ~620. I have no active cards atm, but I am paying off a car, which is raising my credit monthly. I don't mind a secured card, but I'd like it to have the ability to move to unsecured after a set time.
If you get a secured card, you may increase your credit score enough to be approved for unsecured ones. As far as keeping the card for age, it may not be a good idea to have sub-prime issuers show on your credit report after you get the better cards, so you should probably consider applying for new cards once your credit report is better. What about some store cards? Can you get those? Of course, showing higher household income may help as well
shootthemoon said: Do these exist? I did a search, and gleamed through the credit card faq post, but I could not find any additional information on this. The 2 no credit/bad credit cards recommended in the faq both carry fees, and require you to have a savings account with that bank. Looking for a no-fee credit card to rebuild credit. My CR is ~620. I have no active cards atm, but I am paying off a car, which is raising my credit monthly. I don't mind a secured card, but I'd like it to have the ability to move to unsecured after a set time.
kranky
Ancient Member
posted: Nov. 21, 2007 @ 11:58a
National City has a secured card which many people have been happy with, but it has a $36 annual fee (charged $3 monthly). It's not on their site, you have to call and request an application. It can be converted to unsecured but you must request it, and it may take over a year until they agree.
Wells Fargo is supposed to have a secured card with no fee that automatically converts to unsecured after a year if the account is handled cleanly (no lates, no overlimit, FICO of over 600). I only was able to find one discussion of this one though.
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