Reply
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
0

DCU, WF, Cap1, and PNC Secured Denied

I am currently in the process of trying to rebuild my credit, which is in pretty bad shape following a prior job loss.

 

I put in an app for membership to DCU which was denied due to my EQ report (not Chexsystems, I pulled a copy of it and it is clean). No biggie, as PNC approved me for a checking and savings I set up in order to apply for their secured card. After giving them my $2500 almost a month ago, I found out today that it was also denied. Lame! Hopefully my money comes back with the denial letter. I then tried Wells Fargo today, and got denied for a savings account, which was needed to apply for their secured card. Capital One shot me down as well. I hate this!

 

I did get approved with Merrick though, which helps. I currently have an app in with First Progress, as I researched and found them superior to Applied Bank. Hopefully it will be approved.

 

Still waiting for the welcome package for the Amex Oasis program. It's been almost 5 weeks now since paying Nationwide Credit. This was supposed to be my ace in the hole. Hopefully the welcome packet with application comes in the mail soon, and they didn't lie to me.

 

I'm going to attempt to open a secured card with a local credit union in my area tomorrow, but I don't have high hopes. Here's to the power of positive thinking!

 

Other than Applied Bank and Open Sky, does anyone have any suggestions for easy secured cards?

 

Thanks so much!

 

 

Here we go again...
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: DCU, WF, Cap1, and PNC Secured Denied

you should post in rebuilding section since they might be able to help you more.

 

why are you getting denied for savings / checkings account? did you overdraft on your account(s) before? Did you check teletrack as well?

 

There're easy secured cards to get like premier one, but they usually come with ridiculous fees.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
0

Re: DCU, WF, Cap1, and PNC Secured Denied

I have no idea why I WF denied me for a savings account. The lady mentioned my EQ report, but I pulled it from MyFICO last night and I didn't see a hard inq from them, though it is possible they soft'd it.

I got approved for a virtual wallet account with PNC that I planned to use if they approved my secured card, but I am going to close it since they didn't. I also got approved for the checking and savings accounts I use with ABNB, with whom I bank.

My ChexSystems report was clean, and the only info I saw on it were inqs. I'll have to look into Teletrack, as I am not familiar with it.

I am hesitant to apply with First Premier, Applied Bank, and any of the Cerulean Matrix Discover cards because of the ridiculous fees, though it may come to it. I can understand the fees from an unsecured standpoint, but not from a secured. If I'm putting money down up front, they make money from interest.

I'm going to attempt to open a savings and secured CC with Bayport FCU later today. I hope it works.
Here we go again...
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
0

Re: DCU, WF, Cap1, and PNC Secured Denied

I just called and found out that First Progress approved me, so hooray! I only did $500, as I've seen a couple horror stories with it taking forever for folks to get their funds back when they closed their accounts.

As it stands now, I have Merrick secured at $1000, and First Progress for $500. Hopefully I'm going to add Bayport FCU secured for $2500 later today!
Here we go again...
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: DCU, WF, Cap1, and PNC Secured Denied


FretlessMayhem wrote:
I have no idea why I WF denied me for a savings account. The lady mentioned my EQ report, but I pulled it from MyFICO last night and I didn't see a hard inq from them, though it is possible they soft'd it.

I got approved for a virtual wallet account with PNC that I planned to use if they approved my secured card, but I am going to close it since they didn't. I also got approved for the checking and savings accounts I use with ABNB, with whom I bank.

My ChexSystems report was clean, and the only info I saw on it were inqs. I'll have to look into Teletrack, as I am not familiar with it.

I am hesitant to apply with First Premier, Applied Bank, and any of the Cerulean Matrix Discover cards because of the ridiculous fees, though it may come to it. I can understand the fees from an unsecured standpoint, but not from a secured. If I'm putting money down up front, they make money from interest.

I'm going to attempt to open a savings and secured CC with Bayport FCU later today. I hope it works.

Since you have 1 CC in good standing I would stop applying for new credit, you are further damaging your scores with new INQs. Id take a look at the garden thread, I think a year gardening will help you out a lot!!! Good luck!!!




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Regular Contributor
IECredit
Posts: 212
Registered: ‎07-15-2012
0

Re: DCU, WF, Cap1, and PNC Secured Denied

[ Edited ]
Congrats =) time to garden
Current Score:TU 717(Walmart 1/9/14) / EQ 766(DCU Monthly 1/28/14) EX Fico 723(MyFico 9/15/13)
Goal Score: All above 800
Wallet: PenFed Visa Sig $9,000 | DCU Plat. $10,000 | Logix 10,000 | Chase Freedom $1,000 | Discover $3,600 | WalMart $3,500 | Paypal MC $6,000 | Cap 1 QuickSliver $6,000 | Barclay NFL $3,400 | Best Buy $1,000 | Cap 1 Venture $4,000 | 11 Accounts $57,500 Revolving
Moderator
09Lexie
Posts: 26,284
Registered: ‎09-13-2012
0

Re: DCU, WF, Cap1, and PNC Secured Denied

I agree with LS. Also, since 3 banks have denied you due to EQ there has to be something on there that's spooking them. CA, bank collections, liens, judgments something.
IMO
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: DCU, WF, Cap1, and PNC Secured Denied

Grats on the approvals.

I would call the banks and equifax to find out what's going on your report. It's strange to get denied for a checking / savings account if you didn't default on them in the past
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}