Denied for a BOA secured card?

[Breakthecycle2]

I have been reading that some members on here have actually been denied a secured credit card. My question is, how can a company deny someone a secured card? Isn't it there money they are fronting?

[haulingthescoreup]

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@Breakthecycle2 wrote:

I have been reading that some members on here have actually been denied a secured credit card. My question is, how can a company deny someone a secured card? Isn't it there money they are fronting?

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Well, not so much a question of "how can", but why: I would guess that they look at someone's credit report and think that at least for now, the applicant looks too much like they're going to be high-maintenance. Even if the bank technically won't lose money, they would still have to send reminders and late notices and deal with frequent phone calls and wonder if they were going to be included in a future BK or something.

Kind of the same way as when you're single and checking someone out, and you decide they've got just a bit too much baggage to want to deal with.

This is completely a guess, though.

[llecs]

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Breakthecycle2 wrote:

I have been reading that some members on here have actually been denied a secured credit card. My question is, how can a company deny someone a secured card? Isn't it there money they are fronting?

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Ditto to HTSU. I was denied for a BofA secured CC early on with an EX of around 580 or so.

[Anonymous]

I was declined as well. There was an issue with the funding. Call the 800# on the Application, and talk to them, they fixed it (their fault) and overnighted me the card at no additional charge.

[Breakthecycle2]

I wasn't denied (being I haven't applied yet)but I've seen a few members get denied, so I wasn't sure what the real scoop was.