Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Sec

Has anyone ever done a secured credit card to help your credit? Any pros and cons you can share with me about them? Maybe a suggestion on which one to get? Actually any info you can give me would be greatly appreciated! Thank you!

Answer Question
 
Anonymous

Asked by Anonymous at 1:39 PM on May. 24, 2010 in Money & Work

Answers (3)
  • Credit is a hoax, credit is just a way to keep you in  debt, its what got this country in trouble in the first place. If you need more money look into a new career. http://www.newcareer4me.info

    IraqiVetWife

    Answer by IraqiVetWife at 2:53 PM on May. 24, 2010

  • every bank has different info on their secure cards.. its good if you have been with a bank for about a year.. my score went up 50 points when i got a prepaid card through accountnow.. i heard bad things about them but ive had nothing but great times with my card!
    swaney06

    Answer by swaney06 at 6:52 PM on May. 24, 2010

  • My fiance and I both had secured credit cards through Fifth Third Bank...it worked really well for DH...he paid on time every month and it DID help his credit....he eventually closed the card after a year and a half because we really needed that $300 they had locked up to secure the card. I however, did NOT have such a good experience with mine. I paid $25 on the card every 2 weeks when I got paid and assumed that it was helping my credit because i was making consistant payments. Well, they counted my first payment of the month as a random payment and not the actual payment since they usually got it around the 5th, and the due date was like the15 or 17, then the second payment I sent, they kept counting as a late payment!! So my credit got screwed and the card got revoked and the manager said there was nothing he could do since I wasnt paying close enough to the bills due date. I was livid. So it CAN be good, but be careful :)
    landons.mama

    Answer by landons.mama at 10:39 AM on May. 25, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.

Next question in Money & Work
Noah's Animal Workshops

Next question overall (Just for Fun)
Secured credit cards?