- Centurion Member
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- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
CCRider wrote:IMO Capital One Secured is the way to go when rebuilding credit. They have the name recognition and you don't have to join a credit union to get the card. Once you've established a track record with them over time they can upgrade you to an unsecured card which none of the others on your list can do to my knowledge.
Capital One has name recognition, yes, but...
1. Name recognition doesn't matter for FICO purposes - only subjectively when an analyst is manually reviewing a report, and it won't necessarily matter then.
2. In those rare cases, Capital One is hardly on par with American Express, Chase, or US Bank.
3. Cap One has a reputation for encouraging people to apply for new cards, and actual same-account upgrades are less common.
4. Cap One's fees are higher than credit unions
The listed card options are there mostly because those cards advertise a lot so are well-known and get a large market share from people in a hurry. That doesn't mean they are the best options.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech