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What are the best credit cards for the following?

1. Secured card that reports to all bureaus and will switch to unsecured?

2. Best fair to good credit card?

2. Best balance transfer card with good credit?

The best secured credit cards IMO.....are credit union cards. They are usually pretty good at switching over after 1 year.

Most credit unions also have good balance transfer.

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What are the best credit cards for the following?

1. Secured card that reports to all bureaus and will switch to unsecured?

2. Best fair to good credit card?

2. Best balance transfer card with good credit?

One card that I've had that has always been fair to me and has from time to time increased my credit line for perfect payment, and kept my interest low for the few years I've had it is HSBC Gold MC. I'm sure many would disagree, but I'm just sharing my own experiences.

Citi Bank MC closed my account after not using it for 2 years, but I called and they re-opened it with the same balance, and a very low interest rate (under 9%).

Chase has been ok, not spectacular, but I think they are one of the more solid institutions right now in the banking implosion; they also respond to any questions submitted online fairly fast.

I've never transferred balances or anything, so can't help you there; best of luck...

Oh, something that was very helpful that I read here on CIC, is some companies (HSBC maybe it was?) do a "Soft Pull" on your credit before approval I believe - so if you're shopping around maybe it wouldn't help to check with them also? I'd confirm that though, but I remember reading it about some card comapny. :)

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My advice- join a credit union- set up a savings account to be used ONLY for credit repair. Put 25 or 50 a paycheck into this account- wait until you have at least $1000.00 and ask for a secured card. Continue making deposits into the account- never leter utilization over 25%- pay in full pay no interest and you will have a nice tradline- good saving habits and after the account goes unsecure- a nice saings account. I toyed around for years with 300 and 800 cards and never got decent credit offers. I think what helped me was the year of onetime payments and the >1000 tradeline- after about 9 months I got a offer for a Chase platinum- 4000- I don't think I would have got that if I still had the CRAP1 and HSBC cards- I made an effort to weed them out- it hurt my score a little- but in 10 months I've gone from avg.530 FICO to now I'm around 670- I am looking for another bump in few months when my credit union card hits a year- and my chase card hits 6 months.

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My advice- join a credit union- set up a savings account to be used ONLY for credit repair. Put 25 or 50 a paycheck into this account- wait until you have at least $1000.00 and ask for a secured card. Continue making deposits into the account- never leter utilization over 25%- pay in full pay no interest and you will have a nice tradline- good saving habits and after the account goes unsecure- a nice saings account. I toyed around for years with 300 and 800 cards and never got decent credit offers. I think what helped me was the year of onetime payments and the >1000 tradeline- after about 9 months I got a offer for a Chase platinum- 4000- I don't think I would have got that if I still had the CRAP1 and HSBC cards- I made an effort to weed them out- it hurt my score a little- but in 10 months I've gone from avg.530 FICO to now I'm around 670- I am looking for another bump in few months when my credit union card hits a year- and my chase card hits 6 months.

Why did you weed your HSBC card out? Was it hurting your score because of util? I haven't had any issues with my HSBC in the past, aside from the fact that I have made perfect payments for over 3 years (since it was opened) and my balance remains under 2k... I don't get it, but whatever, I use it to buy gas/groceries, then come home and pay it online.

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I should have clarified- my HSBC was one that was charging a annual fee- I could not get them to waive it It was stuck at 300 and the only way to get a CLI was to pay $$. I realize that some HSBC cards are great- mine was a junk card.

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I should have clarified- my HSBC was one that was charging a annual fee- I could not get them to waive it It was stuck at 300 and the only way to get a CLI was to pay $$. I realize that some HSBC cards are great- mine was a junk card.

Oh, I gotcha! Yeah I have not had luck with CLI's regarding HSBC; not that I need it or would want to utilize it at all, but a higher CL translates into a better overall picture of your credit as long as you are at 1-7% util according to the FICO model I believe; just from what I've read.

If I had the choice... I would get one card with a $10-15,000 balance, at 4.99% APR and 2% cash back, with no annual fee; but, I live on Earth, not Dream planet. ;)

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I am curious at what percentage the credit card balances need to be under to have a positive or non-negative effect on your credit score. I heard that under 30% is the cut off? Does it make a difference at 40, 50, or 60%?.... What is the difference in credit score between carrying 50% of your credit limit compared to carrying 30% of your limit?

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I am curious at what percentage the credit card balances need to be under to have a positive or non-negative effect on your credit score. I heard that under 30% is the cut off? Does it make a difference at 40, 50, or 60%?.... What is the difference in credit score between carrying 50% of your credit limit compared to carrying 30% of your limit?

I believe that utilization is one of the largest factor in scoring. I've been told that a good mark to shoot for is <10% overall with no more than 30% on any card. YMMV

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Talk to a rep at Citibank and told me about their credit monitoring program they use. He said at below 50% balance - it has a positive effect on credit on a sliding scale - 40% better than 50 - 30 better than 40... Makes sense. But in the big picture under 50% is not considered a negative....I just paid two of my three cards from 70% balance down under 50% and I got a 23 point jump in my credit rating. Also got an email from this web site - Is this legit? http://www.agedcredit.com/ ...

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I am curious at what percentage the credit card balances need to be under to have a positive or non-negative effect on your credit score. I heard that under 30% is the cut off? Does it make a difference at 40, 50, or 60%?.... What is the difference in credit score between carrying 50% of your credit limit compared to carrying 30% of your limit?

1-7% according to some literature from Fair Isaac Co.

I keep mine at 0% just to be safe ;)

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PS: Just to touch on something you mentioned in an earlier post, utilization is a substantial factor in your overall credit picture and subsequent FICO... the pie-chart for calculation is as follows:

- 35% Payment History

- 30% UTILIZATION (1-7/9% is optimal for breeding higher credit scores)

- 15% History (length of credit... over 90% of FICO High Achievers have 19 years or more of their trade-line activity)

- 10% Inqueries (Applications for new credit, Credit Cards/Revolving loans are most evident here, as car/mortgage loans follow a specific and individual set of rules for reporting and grouping on your report.)

- 10% Mix of Credit (According to the FICO High Achievers, 720+, on this site and MyFico website a good mix of credit is inclusive of a mortgage, 3 revolving trade lines, and perhaps an installment loan/auto-loan)

If you have any other questions let me know, I have been doing very steady research for months now and have started a notebook with references and bulleted points.

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PS: Just to touch on something you mentioned in an earlier post, utilization is a substantial factor in your overall credit picture and subsequent FICO... the pie-chart for calculation is as follows:

- 35% Payment History

- 30% UTILIZATION (1-7/9% is optimal for breeding higher credit scores)

- 15% History (length of credit... over 90% of FICO High Achievers have 19 years or more of their trade-line activity)

- 10% Inqueries (Applications for new credit, Credit Cards/Revolving loans are most evident here, as car/mortgage loans follow a specific and individual set of rules for reporting and grouping on your report.)

- 10% Mix of Credit (According to the FICO High Achievers, 720+, on this site and MyFico website a good mix of credit is inclusive of a mortgage, 3 revolving trade lines, and perhaps an installment loan/auto-loan)

If you have any other questions let me know, I have been doing very steady research for months now and have started a notebook with references and bulleted points.

Nice lay out; good for the newbies to look at, as well as, some of us who've cleaned up our CR but need a little refresher course :)

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PS: Just to touch on something you mentioned in an earlier post, utilization is a substantial factor in your overall credit picture and subsequent FICO... the pie-chart for calculation is as follows:

- 35% Payment History

- 30% UTILIZATION (1-7/9% is optimal for breeding higher credit scores)

- 15% History (length of credit... over 90% of FICO High Achievers have 19 years or more of their trade-line activity)

- 10% Inqueries (Applications for new credit, Credit Cards/Revolving loans are most evident here, as car/mortgage loans follow a specific and individual set of rules for reporting and grouping on your report.)

- 10% Mix of Credit (According to the FICO High Achievers, 720+, on this site and MyFico website a good mix of credit is inclusive of a mortgage, 3 revolving trade lines, and perhaps an installment loan/auto-loan)

If you have any other questions let me know, I have been doing very steady research for months now and have started a notebook with references and bulleted points.

I'm sure I will have some questions down the line; like what do you think of this: http://www.agedcredit.com/

Yes, I am using that model in trying to build up my credit. Thanks so much for the advice and feedback!

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2. Best fair to good credit card?

Patelco Mastercard. 1% cash back at the end of the year, 9.9%apr, 10 day grace period on ALL monthly payments, and even after the 10 day grace period the late fee is $10. No over the limit fees either. They are extremely consumer friendly.

Downside- still no online payment system in year 2009. Get with it!!

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I'm sure I will have some questions down the line; like what do you think of this: http://www.agedcredit.com/

Yes, I am using that model in trying to build up my credit. Thanks so much for the advice and feedback!

Is this an authorized-user for sale website? Personally I have never been involved with this or had any experience through friends or forum members to speak of... I am always weary of websites that either offer something with extra wording that sounds too good to be true (you know the rest)

Or...

if the website looks like it could be made in Microsoft Word 2000, I usually stray away.

Let us know what experiences you have

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XFryingPanXhttp://www.agedcredit.com/ ::BigGun::

looked fishy to me. i wouldnt even suggest anyone access that sight.

Ah ha!!! Mark one for me, lol.

I don't understand how any scam business stays in business that long in 2009 with all the sites like this, forums, and reputable companies that stick out. I guess people are so desperate for a quick fix or a conderella story, they'll ignore the fine print, or even worse WANT to believe the baloney they are being told and simply invest in it without researching it at all... well, I guess I answered my own question. There will always be the cut-corner crowd out there that assume they are 2 steps ahead of everyone else because they stumbled onto a 'secret magic pill' and none of us know. ;)

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Thanks for the heads up on this. Like I said earlier, “it looks too good to be true” and ; it is!.... I had some great success after my BK 7 by having my wife add me to two of her CC. I did the BK 7 before we were married so it doesn't affect her directly. I then added care credit on my own and have my FICOs back up in the 630-650 range after just 9 months. I was just looking for something to push it up to the 680-700 range by the end of the first year. Thanks for all the input....

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