Hey gurus I do my banking at BBVA Compass and wanna know if there secured credit card
is a wise choice. My credit was ruined last year with some charged off accounts, medical bills and then 2 credit cards that had some medical bills charged to them those were Citi and Bank of America. The BBVA Optimizer secured card has a $40 annual fee and 16.24% interest. The only thing I don't like is that the minimum security deposit is $450. I wish it was a little bit lower.
My 2nd question is how many cards do you recommend to start rebuilding with. I was told that 2-3 credit accounts in good standing is preferable. The thing is I already tried to get approved for a card from a jewelry store and was denied and that is surprising because I heard they approved anybody. Now I'm leaning towards opening 2 different secured cards.