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Regular Contributor
Client9
Posts: 159
Registered: ‎03-13-2008
0

Credit Union secured cards

I was wondering do CU secured cards carry the same weight as a BOA secured card?
I have been a member of a CU since 4-2006.  My scores are in the 620's.  I have 0 inquiries the past two years and I don't want to take the chance to get dinged with one and declined for an unsecured Visa with my CU.  I called my Cu and they do have a secured card which reports to all 3 CRAs.
 
Has anyone here had a secured card through their CU?
 
 
Epic Contributor
Creditaddict
Posts: 22,045
Registered: ‎10-23-2007
0

Re: Credit Union secured cards

I currently have a secured card with my credit union.
But with 620, why go secured, you could get seceral unsecured.
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Regular Contributor
Client9
Posts: 159
Registered: ‎03-13-2008
0

Re: Credit Union secured cards

I have this bad feeling that I would get turned down. 
My CU is great, but I would just hate to get that inquiry and not have anything to show for it.
I will probably open up a Crown Jewelers and a Kay's card here to boost up the scores and that might help.  Probably with those cards I can inch my way to the 670's or something
Epic Contributor
Creditaddict
Posts: 22,045
Registered: ‎10-23-2007
0

Re: Credit Union secured cards

do the pre-qual for capital one, householdbank and bank of america.  See if your qualified for something before you take the hard inq.
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Frequent Contributor
creditreformer
Posts: 395
Registered: ‎04-25-2008
0

Re: Credit Union secured cards

depending on the cu, they may be more strict than others w/their secured ccs.  for ex., penfed denied me for their secured cc even w/scores in the mid-high 600s, more than enough $ to cover the secured cc limit (500 lol), and no new baddies since '03.  and no, i wasn't pyramiding debt and didn't have a ton of inqs.  in their words, they are very very very very (and yes, very) conservative.  if possible, go into your CU in person and try to 'feel them out' before apping.
Regular Contributor
Client9
Posts: 159
Registered: ‎03-13-2008
0

Re: Credit Union secured cards

I have a judgement from '04 from BOA, so BOA is most likely out of the question.
I have an Orchard card with a 2700 CL (started @ 400 in 12-05).  I could try Capital One.
 
My CU said they could do the $500 secured Visa no problem.  I migth go in and feel them out or call the customer service number

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