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Secured Card: Bofa or Wells Fargo?

Valued Contributor

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.

gardening since 5/21/2016
Message 21 of 25
Regular Contributor

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.

Message 22 of 25
Regular Contributor

Re: Secured Card: Bofa or Wells Fargo?

How long did it take for your cli?

Message 23 of 25
Senior Contributor

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.

Message 24 of 25
Highlighted
Regular Contributor

Re: Secured Card: Bofa or Wells Fargo?

I thought so as well. Thanks

Message 25 of 25