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Established Contributor
Andy77
Posts: 605
Registered: ‎10-02-2007
0

Secured Card That Graduates...Sugestions...

I am looking for a secured card that graduates.

 

Included in BK so can't apply for : BofA, Capital One, Orchard

 

It has not been a year since my BK was dischared so I can't apply to Wells Fargo yet and now I don't know if they unsecure

 

Already have cards with First Premier

 

I have a Citi secured but the limit is 200.00 (too low)

 

 

Any Suggestions?

 

 

 

 

 

 

 

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: Secured Card That Graduates...Sugestions...

[ Edited ]

 


Andy77 wrote:

I am looking for a secured card that graduates.

 

Included in BK so can't apply for : BofA, Capital One, Orchard

 

It has not been a year since my BK was dischared so I can't apply to Wells Fargo yet and now I don't know if they unsecure

 

Already have cards with First Premier

 

I have a Citi secured but the limit is 200.00 (too low)

 

 

Any Suggestions?

 

 


 

Why is the CITI secured too low? Can you increase the deposit on it?

 

Wells Fargo has started unsecuring their cards again (several posts on it lately).

Contributor
gadixie
Posts: 95
Registered: ‎03-27-2009
0

Re: Secured Card That Graduates...Sugestions...

The best way is to open a savings with a credit union. They will hold for about a year then release it to a full card. They also have low intrest rates so it is not like you are being penilized.

Regular Contributor
92235
Posts: 140
Registered: ‎03-30-2010
0

Re: Secured Card That Graduates...Sugestions...

I have only had two unsecured cards. Unfortunantly you can't get Orchard, but they made mine unsecured in only 11months without me having to request it. They simply sent me a check for the $300 + interest and it was unsecured. I have had Wells Fargo for 2.5 years now. I understand they are unsecuring now, but what that means is they run a new credit check and if you pass they give you a new credit limit which could be more or less than your secured amount. They also give you a brand new account number so its like you have a new account on your CR. Atleast that is what I was told by the agent I talked to. I have heard some people have had theirs accounts simply switched.

Valued Contributor
Datx
Posts: 1,051
Registered: ‎05-20-2010
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Re: Secured Card That Graduates...Sugestions...


92235 wrote:

I have only had two unsecured cards. Unfortunantly you can't get Orchard, but they made mine unsecured in only 11months without me having to request it. They simply sent me a check for the $300 + interest and it was unsecured.


 

If you dont mind sharing...Did Orchard unsecure your card with the same credit limit? And was it basically the same with Wells Fargo where they run a new credit check to determine your credit limit on the now unsecured card?

TU: 603 – EQ: 569 – EX: N/A – May 2010

Regular Contributor
92235
Posts: 140
Registered: ‎03-30-2010
0

Re: Secured Card That Graduates...Sugestions...

I don't remember them pulling my credit. I am pretty sure I had credit keeper at the time and there was never a pull. They just sent me a letter saying that we are making your card unsecured and we will send you a check in a couple weeks. I got the check for $300.83, the $300 I gave them plus interest. Also that card did not have and still does not have an AF. I had a $300 limit and that is what it stayed at when they unsecured it. Of course all of this happened at the end of 2008 before the credit market really tightened up.

Epic Contributor
Creditaddict
Posts: 20,370
Registered: ‎10-23-2007
0

Re: Secured Card That Graduates...Sugestions...

I would keep checking the pre-approval at Capital One, they will give you a second chance at some point, just varies how long you have to wait.

How about a Best Buy Mastercard? you can search for best buy mastercard pre approval and get the link.

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