What is the best Secured Credit Card to get?

I'm looking to help bump up my credit score. I would like a card with low annual fee's and possibly no application or processing fee's.





But I also heard that it can be just as good to take out a small personal loan and pay it back on time, and that it will do the same thing as a secured card. Is this true?





Thanks!|||The best are offered by Orchard and Citi Bank.


They don't have the lowest annual fees - but are not scam cards.


Compare both of these to the bank you have a checking account with.





It is best to make a secured loan.


You drop $1,500 to $3,000 into an savings or a cd and make a loan against it.


Tell the bank you plan to do this first to develop your credit.


They don't care - they are making money.


Make sure they report to all 3 credit bureaus.





A personal loan is extremely hard to get.


You will see interest rates that you didn't know existed.


Only if you have amazing credit or strong collateral can you get a good deal on a personal loan...|||Barclays