IF you were going to get secured, which would it be?

[BoysMumx2]

I know the prime companies all seem to have secured cards available.  I'd like to get my toe in the door with one and I just came into a bit of money for some extra work I did, so....  if you were going to get one prime secured card to establish a relationship with a company - which would it be?

I see that CITI, Chase and BofA all have them.  Which is the best in your opinion?  Who is most likely to graduate you in a year or less?  Which one seems like it would open the most doors to prime?

Thanks!!

[modernsurrender]

BofA is really really well recommended, plus there's the extra bonus of the 99/500 secured possibility.  They graduate from what I've seen in a year, some people say they've had their CL's doubled upon graduation.

Wells Fargo also has one with a reasonable fee.  Those were my top two choices.

[BoysMumx2]

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@modernsurrender wrote:

BofA is really really well recommended, plus there's the extra bonus of the 99/500 secured possibility.  They graduate from what I've seen in a year, some people say they've had their CL's doubled upon graduation.

Wells Fargo also has one with a reasonable fee.  Those were my top two choices.

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As much as BofA drives me nuts, their card does look like a good possibility. My only concern is that there are some posts that make it sound like they are strict on approvals.

I didn't know Wells Fargo had one too... I'll check it out! Thanks!!

[Anonymous]

BoysMum, IMO Citi might be easier to work with. BoA has great cards, depending on your score.

I applied for a Visa Platinum Plus on Oct.1 last year. I was denied for that but they counter offered with the 99/500 card. That card is only available as a counter offer to keep your business. MY EQ FICO score was 633 at the time.

[modernsurrender]

I got the plain, cut and dry, 300 min secured card.

I'm in Tx they pull EX (twice) during my process.

My EX report had 11 accounts on it, only 1 in good standing.  Several chargeoffs that are a few years old, 4 collections (two of which for sure were first reported fall/winter of 07), and just my one little student loan in good standing lol

I apped with them end of Feb, so it was the lower EX score that they saw most likely

Good luck if you do go with them

[BoysMumx2]

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@Anonymous wrote:
BoysMum, IMO Citi might be easier to work with. BoA has great cards, depending on your score.

I applied for a Visa Platinum Plus on Oct.1 last year. I was denied for that but they counter offered with the 99/500 card. That card is only available as a counter offer to keep your business. MY EQ FICO score was 633 at the time.

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I did get my denial on BofA for the alumni card and I was hoping they'd offer the 99/500 then, but they didn't. They also didn't include mention of the secured card. I wonder if this means that they don't want me as a card holder. My ficos are decent (but not outstanding) 668-680 range.

Do you think CITI might be more likely to approve secured? Thanks for bearing with my questions!!

[Anonymous]

WE are all here to help one another. Noooooo problem.

What are your current FICO scores, and the baddies. Collections, charge off's, BK's, etc? Hard to offer an opinion without not knowing more. Sowwy.

[BoysMumx2]

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@modernsurrender wrote:

I got the plain, cut and dry, 300 min secured card.

I'm in Tx they pull EX (twice) during my process.

My EX report had 11 accounts on it, only 1 in good standing.  Several chargeoffs that are a few years old, 4 collections (two of which for sure were first reported fall/winter of 07), and just my one little student loan in good standing lol

I apped with them end of Feb, so it was the lower EX score that they saw most likely

Good luck if you do go with them

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That's where I seem to be leaning - with BofA. I have bk7 from 5/2001, 3 lates from 2002 and nothing negative since then. I have good accounts open, with good limits and my ficos have ranged from upper 600's to low 700's, but recently are back down to upper 600's thanks to inquiries.

I applied a few weeks back for an alumni card with them and got back denial due to bk, with no other information. I'm nervous about applying if they won't accept my bk, even on a secured card. I really want a toe in the door with a good lender, but I also don't want to waste the inquiry if they aren't a good prospect (yes, this is me sitting on the fence).

[BoysMumx2]

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@Anonymous wrote:
WE are all here to help one another. Noooooo problem.

What are your current FICO scores, and the baddies. Collections, charge off's, BK's, etc? Hard to offer an opinion without not knowing more. Sowwy.

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Sorry! Here's the skinny:

TU 673, EX 684, EQ 672 (this has to be a record for me, having the scores so close!), bk7 5/2001, 3x30 day lates from 2002 - but no lates or baddies since then, no collections, no other public records, util ranging between 10% and 30%, depending on reporting (ie, right now higher because PIF accounts not showing). Everything that can be cleaned off reports is gone and now is a case of waiting out bk to drop in 2011.

[Anonymous]

Since you've already been declined with BoA because of the BK, I'd try elsewhere. I honestly don't know if Citi is BK friendly. I'd do an extensive search if you are interested in app'ing with them before you apply.

I'd think that there are several ccc's out there that would look at you especially if your FICO scores are above 675 range. But that's only my opinion.