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I was declined for BOA secured. and also capital one i was declined a few months ago. what secured card should i go for i am willing to put $700-$1000 as a deposit. Any help would be greatly appreciated. I was thinking either wells fargo or US bank. i thought about citi but i had an unsecured card for them that was closed so i dont want to do that. i am paying it off and it is current. i would like a card that graduates to unsecured.
thanks
anthony
@Bigtonyp24 wrote:I was declined for BOA secured. and also capital one i was declined a few months ago. what secured card should i go for i am willing to put $700-$1000 as a deposit. Any help would be greatly appreciated. I was thinking either wells fargo or US bank. i thought about citi but i had an unsecured card for them that was closed so i dont want to do that. i am paying it off and it is current. i would like a card that graduates to unsecured.
thanks
anthony
Bank secured cards unfortunatley seem to be limited to relatively clean profiles with a few old baddies. If you weren't able to get BofA or Cap 1 (which tends to have more lenient requirements) I do not think you will qualify for WF or US Bank absent a very strong relationship (and even that maybe questionable).
Try SDFCU. It doesn't graduate, but it also doesn't require a HP if I remember correctly. At least that will give you some positive history while you're cleaning up baddies in the meantime.
+1 for SDFCU. I believe you have to call in to apply in order to not get a HP. You might want to search this sight about the SDFCU secured card before applying.
You'll have to become a member first, as well.
I can confirm that SDFCU SP's for membership application & secured card app
For unsecured card they do HP.
@ceemee2203 wrote:+1 for SDFCU. I believe you have to call in to apply in order to not get a HP. You might want to search this sight about the SDFCU secured card before applying.
You'll have to become a member first, as well.
I didn't call and didn't have any issue with a HP.
If you can't qualify for BOFA, SDFCU is the second best secured card that I'm aware of from a use perspective.
@OP: what were the reasons you were denied? Should've been explained, those are your targets for fixing in short order if possible. If I had to guess, having a closed card with a balance trying to qualify for a secured card might be problematic (various fraud and other possible issues), much like having an open judgement. If the security deposit can be yanked away by court order, most lenders tend to shy away from that.
@eagle2013 wrote:
@Bigtonyp24 wrote:I was declined for BOA secured. and also capital one i was declined a few months ago. what secured card should i go for i am willing to put $700-$1000 as a deposit. Any help would be greatly appreciated. I was thinking either wells fargo or US bank. i thought about citi but i had an unsecured card for them that was closed so i dont want to do that. i am paying it off and it is current. i would like a card that graduates to unsecured.
thanks
anthony
Bank secured cards unfortunatley seem to be limited to relatively clean profiles with a few old baddies. If you weren't able to get BofA or Cap 1 (which tends to have more lenient requirements) I do not think you will qualify for WF or US Bank absent a very strong relationship (and even that maybe questionable).
Try SDFCU. It doesn't graduate, but it also doesn't require a HP if I remember correctly. At least that will give you some positive history while you're cleaning up baddies in the meantime.
I don't think this is accurate, but rather there's certain types of derogatories which scare them. I had a closed BOFA card (by creditor after a 60 day late), an open collection, and an unpaid state tax lien on my report from the back half of 2010, and was able to get a BOFA secured card in 10/11 less than a year after the tax lien and collection at least.
Actually, I found WF to be a forgiving bank. I was able to open a secured card (with 4 baddies and a tax lien) with them quite easily. I had heard that PNC was also easy to get. I have paid my WF for 12 mos straight and hoping I could graduate in April or Oct. Good luck....
Revelate, why do you consider BoA's secured card better, because it unsecures?
It does have a 39 dollar annual fee, which sdfcu's sec card does not
Tony, do you remember me from the forums on Dodge?????
@Bigtonyp24 wrote:I was declined for BOA secured. and also capital one i was declined a few months ago. what secured card should i go for i am willing to put $700-$1000 as a deposit. Any help would be greatly appreciated. I was thinking either wells fargo or US bank. i thought about citi but i had an unsecured card for them that was closed so i dont want to do that. i am paying it off and it is current. i would like a card that graduates to unsecured.
thanks
anthony
When were you declined? If you get the 30day message, that may or may not be the decline.
Call BOA and check the real status or ''wait until you get the denial letter'' to be sure that you were actually declined.
I have heard some getting the 30day message and no sooner, the security deposit cleared from their bank and went to BOA. (indicating approved).