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Contributor
Posts: 221
Registered: ‎07-11-2012
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Is there really a credit card that guarantees approval?

Is there really a credit card that guarantees approval?

Yes.  If you want a 100 percent guarantee that you will be approved, apply for a secured credit card.  A secured credit card will help you build credit history with low risk to you.  Secured credit cards work just like regular credit cards and are also reported to the three major credit bureaus.   The only difference between a secured card and a regular credit card is that a secured card requires a security deposit and your credit limit matches the amount of the deposit you put down – the minimum is $200.  Your credit limit can be as little or as much as you choose – you can increase your limit by simply adding more to the amount that you initially deposited.  The great thing about a secured credit card is that it can act as a personal savings account while building your credit history at the same time.

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
Contributor
Posts: 221
Registered: ‎07-11-2012
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Re: Is there really a credit card that guarantees approval?

I don't know about this.  I copied this off of myFico's website, but as BofA showed me.  That is FAR FROM TRUE!

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
Valued Contributor
Posts: 1,971
Registered: ‎09-16-2011
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Re: Is there really a credit card that guarantees approval?

The only guaranteed credit is from "First Parents  Savings and Loan" mostly loan :smileyvery-happy:  but they only report to the family and their friends. 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 12/15/2014
Regular Contributor
Posts: 200
Registered: ‎03-15-2012
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Re: Is there really a credit card that guarantees approval?

I've seen many people get declined for secured cards on these forums.

2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 10k Discover, 3.5k Freedom, AmEx Green, SL, Auto Loan - EQ myFICO 695
Regular Contributor
Posts: 232
Registered: ‎02-02-2012
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Re: Is there really a credit card that guarantees approval?


jamesdwi wrote:

The only guaranteed credit is from "First Parents  Savings and Loan" mostly loan :smileyvery-happy:  but they only report to the family and their friends. 

 

 


That was hilarious!

Wallet:
CapOne QuicksilverOne $500/VS $700/Express $500/Walmart $2000/Old Navy $600/SC Telco Visa $1K/HH Gregg $1500/Target REDcard $200



Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Is there really a credit card that guarantees approval?

Not all secured cards are 100% approval.  Actually most are not.  However there are some that are 100%

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Contributor
Posts: 101
Registered: ‎12-08-2011
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Re: Is there really a credit card that guarantees approval?

it is a waste of your time to do business with BofA.  BofA SUCKS!!!!!!!!!!!! 

 

 


......NPSL.........14.5 K............30 K..........20 K.........10 K...............8 K.............7.5 K..........
Established Contributor
Posts: 1,002
Registered: ‎12-06-2011
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Re: Is there really a credit card that guarantees approval?

[ Edited ]

tboy1977 wrote:

I don't know about this.  I copied this off of myFico's website, but as BofA showed me.  That is FAR FROM TRUE!


Open Sky Secured Visa® Credit Card

 

https://www.openskycc.com/pages/applicationscreen1.aspx?NID=1691

 

This one guarantees approval and there's no credit check!


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620
Take the FICO Fitness Challenge! | Diamond Spade Garden Club Member: App free since 7/2012
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Is there really a credit card that guarantees approval?


tboy1977 wrote:

Is there really a credit card that guarantees approval?

Yes.  If you want a 100 percent guarantee that you will be approved, apply for a secured credit card.  A secured credit card will help you build credit history with low risk to you.  Secured credit cards work just like regular credit cards and are also reported to the three major credit bureaus.   The only difference between a secured card and a regular credit card is that a secured card requires a security deposit and your credit limit matches the amount of the deposit you put down – the minimum is $200.  Your credit limit can be as little or as much as you choose – you can increase your limit by simply adding more to the amount that you initially deposited.  The great thing about a secured credit card is that it can act as a personal savings account while building your credit history at the same time.


Secured cards are great, I've had 3 in the past few years.   But only a few are guaranteed approval, I have been turned down by US Bank for a secured card.

 

Only a few secured cards guarantee approval.    The "Open Sky" for example.   I got it when it first came out.

 

 

Contributor
Posts: 221
Registered: ‎07-11-2012
0

Re: Is there really a credit card that guarantees approval?

But at what cost with Open Sky?  BofA sucks......still no letter of denial from BankofAmerica

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)

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