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Stopped into a credit union in Tampa and picked up a useful tip on secured cards
I was at Suncoast Credit Union last Tuesday asking about their secured card options. The loan officer told me that if I keep the balance under 30% and pay on time for 6 months, they'll auto-review for an unsecured upgrade. Has anyone else had luck with a specific credit union's secured card program?
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lewis.brian2mo ago
Right, because credit unions are famous for keeping their word on those auto reviews. I've seen more people get stuck in secured card purgatory than get upgraded. They'll hit you with a "your credit profile changed" line at month 6 and suddenly it's a hard pull and another 6 month wait. Plus keeping under 30% on a $300 limit means you're basically paying for Netflix every month. Better off just getting a Capital One Platinum or Discover student card if you have any credit at all.
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susan812mo ago
I mean, is it really that bad though? It's a $300 limit, not a mortgage. If you can't handle the basics of a secured card for a year then maybe building credit is the least of your worries.
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wren_mitchell2mo ago
ngl susan, i feel you but i think it's a bit more complicated than that. @lewis.brian kinda nailed it with the secured card purgatory thing - i've heard way too many stories of ppl getting stuck in that cycle.
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