I am looking to apply for a secured credit card but I have no idea what I'm doing.
I'm 23 years old, currently receive supplemental security income every month (lots of medical problems) I don't have a job because of my health issues at this time so that is my only source of income right now. Along and along I've saved up about $500 and I want to put it towards a secured credit card so I can try to make a better life for myself after I can get my health issues fixed and get a job/go back to school.
I don't have any credit at all, and I realize that without a job, a secured credit card is my only option. There is a local credit union in my town that has a Visa secured card with 14.90% APR, is this good? I really have no idea. I've also been reading about the Capital One secured card, apparently a lot of people really like that one, but I would like to have a card with an actual bank/CU, that I can go to and make a relationship with, so that in the future if I need to get a car loan, mortgage, etc. I've built a relationship there. If that makes sense. What would you do if you were me?
I really have no idea what I'm doing and some helpful advice would be greatly appreciated. Thanks so much!