01-02-2008 06:06 PM
01-02-2008 06:10 PM
01-02-2008 06:20 PM
concorduser wrote:I really doubt checks system would have any thing to prevent you from getting the CC. In this case you are not really writing a check. You are only depositing money into savings account. I could be wrong, but I dont think it should effect you from obtaining a Secured CC.
01-02-2008 06:21 PM
PS- this is not at a bank, at the local CU.
concorduser wrote:I really doubt checks system would have any thing to prevent you from getting the CC. In this case you are not really writing a check. You are only depositing money into savings account. I could be wrong, but I dont think it should effect you from obtaining a Secured CC.Actually, I have heard rumors of this happening. Never met anyone in person, but these days one doesn't have to have checking for direct deposit- they can just have savings. However, w/ savings comes a Visa/Atm credit/debit card, and since it can be used as a CC, I personally was denied many many years ago for the Visa ATM/credit/debit card. I had to get ATM only. I could still set up the savings account.Made me so mad at the time it happened that I have never gone back and asked for the Visa CC/debit version. My debit/ cash only card still has the Visa logo- but I can't use it as a debit/credit card.ATM strictly.
01-02-2008 07:44 PM
01-02-2008 09:33 PM
01-03-2008 03:26 PM
concorduser wrote:I guess it all depends on each CU how they process the apps. For instance last year when my scores are low and around mid 500, one of the CU forget about the Visa/Debit card, they would not even open a checking account for me. Only thing would allow me to open is a savings account wtih atm card. Now my scores are close to 700 that is all a thing of the past.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.