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Valued Contributor
Posts: 2,056
Registered: ‎06-16-2012
0

Re: Secured Card: Bofa or Wells Fargo?


Give_Me_Credit_Please wrote:

Thank you very much!! My first prime card (even though it's secured) and very excited.


Congrats!!! and treat it good and you could even get an auto CLI (without a deposit) just like they did to my account.

Cards: (Chase x8) (Citi x6) (Amex x6) (BofA x3) (US Bank x3) (Barclays x4) (WF x2) (Cap1 x4) (Synch x4) (Penfed x2) (Macys Amex, Discover, USAA, Fidelity, NASA x1), PLOC: Citi (18k) WF (10k), Personal Loan: USAA (25K), Auto Loans: Ally, Audi Financial.
Regular Contributor
Posts: 242
Registered: ‎12-11-2012
0

Re: Secured Card: Bofa or Wells Fargo?

I always thought, "okay a secured credit card? That should be easy approval?" But from what I've been reading here, a secured prime card can also deny you as well. So I'm just fortunite that they gave me this opportunity. Questions? Is it better to have a revolving balance every month and pay double the minimum or is it better to pay balance in full every month? Thank you.

Regular Contributor
Posts: 242
Registered: ‎12-11-2012
0

Re: Secured Card: Bofa or Wells Fargo?

How long did it take for your cli?

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: Secured Card: Bofa or Wells Fargo?


Give_Me_Credit_Please wrote:

I always thought, "okay a secured credit card? That should be easy approval?" But from what I've been reading here, a secured prime card can also deny you as well. So I'm just fortunite that they gave me this opportunity. Questions? Is it better to have a revolving balance every month and pay double the minimum or is it better to pay balance in full every month? Thank you.


It is always better to PIF the balance by the due date every month.   Interest charges are expensive and they only help the bank make more profit.

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Regular Contributor
Posts: 242
Registered: ‎12-11-2012
0

Re: Secured Card: Bofa or Wells Fargo?

I thought so as well. Thanks

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