05-08-2010 10:56 AM
What's the max credit limit for the secured card? I kind of want a card with at least $5000 credit limit so I can charge for airline tickets. I am willing to deposit that much if I can get the credit limit. So, do secured card offer the same benifit as unsecure card, like travel protection benefits and stuff.
05-08-2010 11:06 AM
unfortunatly it is only up to $3000 dollars with this card..
05-10-2010 08:43 AM
Thanks mizzcharles for the heads up on this new card. I've been following your progress and I applied as well. I got the email mine was shipped on the 7th, so hopefully I'll get it in the next few days. I really love the ease of applying and adding money. I was actually getting ready to send in an application for an Orchard secured when this came about. Thanks again!
05-10-2010 01:40 PM
HEY NO PROBLEM,
I'd hope to be given a heads up on good offers as well. We're here to help each other out. I love how easy everything was as well, especially not having to mail in money and the customized cards..
05-11-2010 09:03 PM
Just wanted to suggest users check into secured cards from Digital Credit Union or Addison Avenue Federal Credit Union, both of which have no AF and you get all the benefits of their regular Visa cards.
Note that Wells Fargo is no longer converting secured cards to unsecured until the ramifications of this credit crunch and new credit law flush out. Also for those seeking to rebuild credit through HSBC or Orchard, both have just revised their policies and are not extending any CLIs to anyone.
Here's an interesting article I found:
05-14-2010 03:46 PM
when this account shows up on your credit report please let us know if it reports as secured or not. when this product was around years ago i think it was just reported as a credit card since clis were given after the intial deposit.
05-26-2010 12:17 PM
I just got off the phone with capital one & I was told that all I have to do now is setup my security deposit & once it clears I'll be getting my card mailed out. The confusion was, when I called last week they said all they needed was address verification so, I faxed over my check stub from my employer & another week went by & I called the automated number to check on the status of the application & it still said they were reviewing my app. So, I called back & spoke with a rep & asked her why are they still reviewing the app. when I already faxed over the document they needed to process the app. She said they are waiting on the security deposit which I told her I wasn't given that option until the app. has been approved but, she said everything on her end is fine & we just have to wait until the transfer of funds clear before they can send out the card. I told her I'll call them back with the banking info. on Friday & she said that'll be fine & that I need not worry because everything has been approved. Why can't they tell you that the deposit is all that was holding up the process on the automated system ? Anyway, it's approved & I'll be adding another positive TL to my reports.
05-26-2010 12:35 PM
I would be annoyed by that too. I had no problems thank god.
my friend did tho. She applied for 2 cards and sent in the deposit. they accidentally put all the money on one card and could not reverse it. They noticed the error and apologized but thank god she had the extra money to send another deposit in for the other card. I wouldn't have had enough to do that.
07-14-2010 04:05 PM
I applied for this and got something in the mail that said I needed to send in proof of address and social security number. I called the number today and the woman gave me a fax number if I wanted a quicker decision.
I saw there is an inquiry on my EX report (my worst score I think) from the date I applied.
I imagine I'd have been declined outright at this point? I don't know if it's a good sign or not. I guess I will know tomorrow when I fax it in.
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