Elan Financial Secured to Unsecured

Anonymous · ‎02-04-2013

Ok so here is the deal. Exactly one year ago this month I got approved for my $300 Fulton secured card through Elan Fincancial. Friday I called to unsecure and I got an alert they pulled TU same day. Today I recieved a letter in the mail that I qualified to be unsecured. When I called the number on the letter they sent to ask about the limit they told me it would be the same as on my secured and that I'd recieve the $300 back.

I asked the underwriter for a bigger credit limit and she said I'd have to use the card a few months first **bleep**? I just spent a whole year with a $300 limit. My discover It card is $1500 and my Walmart Discover is $800. Now my question to you all is do I even bother keeping this card at all since it seems they don't really want my business and close it or do I keep it and maybe try to recon again when I get the card in the mail. This is my oldest account. I'm thinking of closing the Capital One card I have to that is only $300 but will go up to $500 after 7th statement.

Anonymous · ‎02-12-2013

OK so after talking to the underwriter a few days ago she insisted that I needed to use the card for atleast 6 months after being unsecured before they would consider giving me a CLI so I told her close the account that I couldn't even rent a nice hotel room for a couple days and eat a nice dinner for me and the girlfriend with a measly $300.

After saying that the phone went silent for a brief moment and she said she would see what she could do and asked me how much I wanted so I told her $1000 would be reasonable being my Discover is $1500 and my Walmart Discover is $800. Today I called back and they approved the $1000 and it will reflect on my next statement.

Just thought I'd update just incase anyone was interested. They did a soft pull but I'm guessing that is because they did a hard pull on my TU when they unsecured me....

civilitermortuse · ‎02-12-2013

If I were you I would use the EO to get your Cap1 cards increased after the 7th statement!

Anonymous · ‎02-12-2013

@civilitermortuse wrote:
If I were you I would use the EO to get your Cap1 cards increased after the 7th statement!

To late I already closed it after pleading with them to remove the AF. I've got all the card I need for now. Going to garden these for atleast a year then app for Amex and CSP.