Secured Credit Cards

[coffeegrl]

Has anyone ever had a secured credit card before? I understand the basics of how they work. I'm just looking for opinions, likes/dislikes, etc from anyone who has had one. 

Thanks!

[Deleted]

I have a friend that got one a couple of months ago to rebuild their credit score. From my standpoint they are pretty straight forward and that is really about the only time you would want to use one.

[NoNamePerson]

I also had a friend who got one years ago. He paid in full every month and I think after maybe a year or two at the most I know they issued him an unsecured card. I don't remember if he called and wanted to close the account so they offered an unsecured card or if card company just offered it. The limit was not real high but it did let him build more credit over time.

I think he said the secured card was reported to credit bureaus just like a regular card - no designated that it was secured but don't hold me to that - long ago and memory isn't what it used to be

[msventoux]

When I was first trying to build credit I couldn't qualify for a credit card. I got a secured one via my credit union and used it for a couple of years until I qualified for other offers. It was just like any credit card, no bad experiences. I closed it after a few years as by then I had other cards and it was annoying to me that they were holding onto my money.