question... lets say you have a secured card and you put down 2000 deposit and get a 2000 cl. Would you get a 2000 cl when it gets unsecured. I have bank of america. Or if you put 5000, will you get a 5k cl?

Sportsfan, I am updating as I promised. My first statement for my Citi secured mastercard cut on Oct. 3 and I saw it on my report on Oct. 4. They reported it as secured. It doesn't really matter because you get to build your credit while you earn interest as you stated earlier. I would definitely apply for the Citi and BOA secured cards.

Good Luck

Thanks for the input. I am going to apply to B of A and Citibank for their secured cards. The Citibank card puts your money in a CD for 18 months- so waht the heck, I gain interest while I build my credit back. Also, it could not hurt to have 2 cards from 2 of the bigger banks. Nice to hear from you both and I will report on my results.

Thanks for the input rwmtd.

Does anyone know if the Bank of America or Citibank secured cards reveal that they are indeed secured cards to the bureaus? Is there a way to see this on a credit report viewd by someone?

Also, does anyone have any experiences with either of these cards and what was it?

Thanks- just joined the group here.

Hello sportsfan and welcome to the board. I have a secured card from Bank of America and it reports to all three bureus as a secured card (I've seen it listed that way on my credit report). The fact that its secured should have no effect on how creditors view you what is important is your utilization and pif (paying in full) every month. I've had my card for several months now and I PIF every month. BofA will unsecure the card if you do good with the account anywhere from 9 months to a year, give you your money bank and increase your CL.

Hope this helps you.

Welcome to FG! The main purpose of having a secured card is to rebuild your credit and the only way of doing that is for them to report to all 3 credit bureaus. I don't have the BOA secured card but I have 2 unsecured cards with them. I believe they report to all 3 credit bureaus. We have some members here who have the BOA secured card so hopefully they can add to this thread soon.

I do have the Citi secured card because that was the only way I can get my foot into the door with them at the time. My statement is supposed to cut today and will update on how they report to my credit reports.

Do you currently have any credit cards?

Does anyone know if the Bank of America or Citibank secured cards reveal that they are indeed secured cards to the bureaus? Is there a way to see this on a credit report viewd by someone?

Also, does anyone have any experiences with either of these cards and what was it?

Thanks- just joined the group here.

Congrad on your checking experience with BoFA checking account. They are one of the first accounts I had since my BK. Pretty decent bank.

Well I thought since I'll be getting my BofA secured card any day now that I would open a BofA myaccess account (since it's free). That way I can pay my bill directly from that account. I've talked to CS at BofA and they are very friendly and helpful.

exactly...I have 3 checking accounts, a citibank ez checking, a WAMU checking and savings, and me and my wife have a joint checking w/national city. None of my accounts charge a monthly fee. The BofA Myaccess checking is free and one of the easiest checking accts.

Bank of America offers a free checking called MyAccess checking. You don't need a direct deposit for it stay free. It's a good deal.

they don't have free checking in IL, only if you have direct deposit. They do have an account of $6 a month..however it paperless and you don't get any checks...hope this helps...(IL only)

Oh my, they need to understand competition and future. What is going on down there?

Thanks for the info all.

Never use checking accounts. Utilize money market accounts.

HJM331, i have a checking account that charges $7 a monthly. they don't have free checking in IL, only if you have direct deposit. They do have an account of $6 a month..however it paperless and you don't get any checks...hope this helps...(IL only)