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Valued Contributor
dodgerslv
Posts: 1,757
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: (Citi x6) (Chase x5) (US Bank x3) (Amex x3) (Barclays x3) (BofA x2) (Cap1 x2) (WF x2) (Penfed x1) (Discover x1) (Sync/GE x4) (Macys x2)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).





Regular Contributor
Give_Me_Credit_Please
Posts: 235
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
Give_Me_Credit_Please
Posts: 235
Registered: ‎12-11-2012
0

Re: Secured Card: Bofa or Wells Fargo?

How long did it take for your cli?

Senior Contributor
Wolf3
Posts: 3,198
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.

Regular Contributor
Give_Me_Credit_Please
Posts: 235
Registered: ‎12-11-2012
0

Re: Secured Card: Bofa or Wells Fargo?

I thought so as well. Thanks


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